Live & Flip

Contractor Bids and Hard Money

I have been in touch with contractors on the Tree Times house. So far I have taken two contractors through the house. 1 just for electrical and the other for the entire job. I'm still waiting to hear about the entire job bid (broken down into sections), but the electrical bid came in higher then I wanted. I will need about 3 more whole house bids before I make a selection. Here is a copy of the scope of work for anyone interested in a sample. This does not include time lines or cost. Tree...

New Home, Maybe!

Gonna make a bid tonight on a possible new home. Its a SS that needs around 30k worth of work. Its in a southern neighborhood of my farm. Has everything were looking for. No other bids yet and I'm going to offer 12k less than asking. The BPO will take place on Thursday. If we happen to get that property, my current one will become our third rental. My current property will rent for $1000/mo. The mortgage will be $585. I'm looking at positive cash flow of $50-$100/mo. My combined cas...

Back from Napa

We got back last night from Napa Valley. We had a great time. Tried dozens of wines, cheeses and I even got to try some local beers. We ended up purchasing 15 bottles of wine before the week was up. Several were a bit above our price range, but will make great special occasion wines. We stayed at the Old World Inn bed and breakfast. It was my first experience at a B&B. If your staying in Napa its the way to go. Breakfast was great every morning, complimentary wine all day, cheese in the ...

Mush!

Ive been driving my neighborhoods for sometime now. I'm getting a much better feel for street qualities and areas with problems. I'm finding vacant properties and I'm recording the addresses. I'm looking up the owners of those homes. For some reason, I haven't gotten a letter out. Fear is a damned thing. I'm not afraid of phone calls, making offers, buying or selling houses. Its a fear of not knowing every bend in front of me. I am a very analytical person. I need to know all the fa...

Busy 3 weeks

I let 3 weeks with no post slip by and did not even realize it. Crazy. I have been doing my coaching items whenever I can fit them in. Life simply took hold and did not give me any free time what so ever. With the help from my folks and brother-in-law I completely redid the landscaping on our yard. Its almost done. Bought 2 dozen plants and 3 tons of mulch. Added a new brick border wall up front, removed those three bushes, removed several trash cans of trash and rose bushes, had the ...

Busy Week

I had a fairly busy week. Sadly very little to help my progress in real estate. I thought I would give a quick update. I am still waiting on the probate house. The owner is still hesitant of selling just yet. The wholesaler is confident that it will happen soon. He doesn't know it, but I am in no hurry. I will keep working all my other deal paths in the mean time. I looked at a house on Thursday. The owner is asking 120k now originally 150k. FMV is 120. Their agent is uninformed. I wou...

CEO or Employee of my life?

Now that I have completed my review of 2009 to see where I stand, it’s time to do my goals. I know it’s Feb and I slacked off, but in truth goals have become so important to me, I don’t want to take them halfheartedly. As I write these goals, I sit back and think about last week’s mastermind meeting. A simple question was proposed. Are you the employee or CEO of your life? An employee completes tasks, a CEO works towards a vision of where he or she want to take their company. Employees...

Self Analysis Conclusion

20. How much time have I devoted to unprofitable effort, which I might have used to better advantage? I would say I have spent about 50% more of my available time towards wasted time then I would like. It’s not a matter of not having enough time to get things done. It’s a matter of using the time I available more efficiently. 21. How may I re-budget my time, and change my habits so I will be more efficient in the upcoming year? I think the best thing I can do is start work immediately. ...

Calibrate you life, Now!

I read posts and I listen to folks who talk about the future in such odd ways. If I just made an extra $500 dollars a month I could put that into savings. If I just had 2 more hours in the day, I could accomplish my goals. When I'm successful, my money issues will be solved. I just need to get that promotion, sell that widget, finish this big project. I have a newsflash for you, your absolutely wrong. How in the hell can you be expected to handle more money, and time when you can't handle it ...

Self Analysis Part II

Its time to do part 2 of my self analysis. Questions 11-19. 11. Has my relationship with my associates in work been pleasant or unpleasant? I get along with nearly all my coworkers. The workers at my plant are a fairly tight nit group. 12. Have I dissipated any of my energy through lack of concentration of effort? Yes, I am easily distracted. I have gone to starting my real estate work as soon as I get home rather then wind down and start. This has helped me stay focused to complete...