Archive for February, 2007:


Carnival Of Real Estate Investing Feb 26 Edition

Carnival of Real Estate Feb 26, 2007 Edition

I hope that I am doing this thing correctly I am a computer illiterate, anyway there were some great articles written, and some very insightful thoughts into real estate investing. If I had to pick a winner of this carnival it would be…………….drum roll please…………………………………….. Steve Burns presents Get Started Investing With A Rock Solid Plan posted at Cash Flow Treasures. His article offers great insight into real estate investing for both newbies and seasoned investors.

Flipping
mike simonsen presents Flipping homes in a down market posted at Altos Research Real Estate Insights, saying, “Looking at the Flip markets in Palo Alto and Morgan Hill CA”

Rehabbing

Nigel Swaby presents Real Estate Investing – Look Before You Leap posted at Salt Lake Real Estate Blog.

Real Estate tips and Insights

Will Chen presents Why not to use a buyer’s agent posted at Wisebread.

Wenchypoo presents Social Security Alternatives posted at Wisdom From Wenchypoo’s Mental Wastebasket, saying, “How to incorporate real estate into your retirement plans.”

Michael Cook presents Negotation 201: Dont Just Think about the Best Price posted at BloodhoundBlog, saying, “Have you ever negotiated your way out of a good business relationship? I certainly have and I have often regretted it. Novice investors typically fall into two camps: the pushover or the bulldog. While there are certainly times to be both, the context of the situation should remain paramount. Some times the biggest winner in a negotiation can really be the biggest loser in the long run because of relationships that get crushed over a few dollars.”

Rental Property

Matthew Paulson presents Roommates: Can’t Live With Out Them posted at Getting Green.

Joshua Dorkin presents Vacant Rental Property or Bad Tenants? posted at Real Estate Investing For Real.

Anesia Springborn presents Does the Headache Quotient Make Investing Worthwhile? posted at Anesia Springborn, saying, “Here’s a real life typical tenant headache with some thoughts on how to prevent it, solve it, and view it.”

Other Real estate articles

Spencer Hill presents Podcast: Dr. Glenn Mueller; Real Estate Investment Strategist posted at Hill’s Personal Finance.

Steve Burns presents Get Started Investing With A Rock Solid Plan posted at Cash Flow Treasures.


Ironman presents Political Calculations: Real Estate Investing: The Capitalization Rate posted at Political Calculations, saying, “Political Calculations has built a tool that will allow you to compare properties in which you might be investing based upon their value, instead of getting into the detials of how you’ll be structuring your financing.”

Nina Smith presents GayRealEstate.com – Part 1 posted at Queercents, saying, “GayRealEstate.com is the largest company in the nation representing the rights of queer home buyers and sellers. Queercents asked Jeff Hammerberg, the founder of GayRealEstate.com for a series of articles specific to the gay and lesbian community.”
Will Chen presents Why not to use a buyer’s agent posted at Wisebread.
Wenchypoo presents Social Security Alternatives posted at Wisdom From Wenchypoo’s Mental Wastebasket, saying, “How to incorporate real estate into your retirement plans.”

Michael Cook presents Negotation 201: Dont Just Think about the Best Price posted at BloodhoundBlog, saying, “Have you ever negotiated your way out of a good business relationship? I certainly have and I have often regretted it. Novice investors typically fall into two camps: the pushover or the bulldog. While there are certainly times to be both, the context of the situation should remain paramount. Some times the biggest winner in a negotiation can really be the biggest loser in the long run because of relationships that get crushed over a few dollars.”

Craig S. Higdon presents Effective Real Estate Strategies For Slow Markets posted at Investment Property Insider.

Other Non-Real Estate Related

Phil B. presents Rising Sea Levels « Phil for Humanity posted at Phil for Humanity, saying, “By the end of this century according to Time Magazine, sea levels could rise by more than 4 feet!”

Praveen presents Review of “The Rich Jerk” – Get It Free, Plus $1 posted at My Simple Trading System, saying, “Review of the Rich Jerk ebook, which has a section on wholesaling”

A Samuel presents Euro Disney and Pierre Vacances to build ecotourism vacation village posted at Nubricks.com.

That concludes this edition. Submit your blog article to the next edition of carnival of real estate investing using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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Flipping Fools Foreclosure Odyssey

My posting has been rather limited lately as I have been unbelievably busy doing real estate though I wish I had more time to write about it. Let me tell you in 2007 we are blowing the doors off of the “Slow” Grand Rapids Real estate market. Here is a samplings of deals completed and done so far, I dont put numbers down to brag or toot my own horn (though I have grown to love that sound) but more to show what any idiot like me can do in real estate, in one of the worst real estate markets in the nation. I think Michgan is either #1 or #2 in the nation for people migrating elsewhere for work.

The other reason for my lack of writing is the Real Estate Business in a box that I have been putting together. I have essentially taken every element that has lead to my success, and made it available for others. The business in a box will include: well branded ugly house vanity number, website (the best I have seen), business cards, signs, guide to business, and weekly group coaching calls, member only forums with experts for each part (mortgage, realtor, inspectors, accountants, attorneys, etc. I put this kit together to help anyone from a newbie to a seasoned investor take the guess work out of all aspects of their real estate business. The amazing part is that the cost for the kit is actually far lower than trying to buy your own vanity number and website. Originally I had designed the Real Estate Business in a box for bird dogs, but after using the system myself, I realized even seasoned investors could add thousands to there bottom lines.

Real Estate Wholesalers ,Real Estate Birddogs and Real Estate Agents will benefit from the website, simply for the added percieved image value that the website provides. Along with a great website you will also have access to some fantastic domain names that have made me thousands. The ugly house vanity number can increase memory retention of your phone number 10 fold, which will skyrocket the revenue generated from each advertising dollar.

Anyway onto some deals:

Real+estate+Bird+Dog+Program+2 Flipping Fools Foreclosure Odyssey
This supermodel of a home was bought in aug 06 for $30k I put about $11k into it and sold it for $62k in January of this year. I put a tenant in this one while I was waiting to sell and she paid me $675/mo Profit around $16,000
Picture+035 Flipping Fools Foreclosure Odyssey
I picked this one up for $50,500 and put it under contract in under a week for $64,000 on a 6 month lease option in “As Is” condition. We just closed this one Feb 2, 2007 with the end buyer.
Profit around $12,000(I never did anything except for find this one)
Yes thats the toy I bought myself as a gift with real estate money.
Grand+Rapids+HUD+homes,Grand+Rapids+Foreclosures Flipping Fools Foreclosure Odyssey
This is a HUD foreclosure that I purchased last year for $30,500 and recently sold for $62,000. I only put about $3,000 into this one for repairs. While I was waiting to sell I had about $675 coming in for rent.
Profit around $22,000
Bird Dog Real Estate Flipping Fools Foreclosure Odyssey
This little beauty I bought for $26,000 in August of last year, I put about $3,000 into it and sold it this year for $62,000. This was my most profitalbe flip to date. Cash on cash return was over 100% in under 6 months.
Profit around $28,000
Picture+006 Flipping Fools Foreclosure Odyssey
I picked this one up from a real estate bird dog that I use. I paid him $3000 for the lead so he was happy. I ended up paying $30,500 (including the bird dog fee) for this one then putting an additional $14,000 into it. Then sold it for $62,000.
Profit was around $13,000
We will have to ad many more to the list this year to complete our income goal of $300,000, but we are well on our way. I have bought an addition 8 homes already that we are currently working on. Just last week we put another of our completed rehabs under contract with profits looking good. Many of the homes that I buy are Grand Rapids Foreclosures, Grand Rapids HUD homes, or Grand Rapids Rental properties.
Eric Medemar

Follow Me Flipping Ramblings of a Real Estate Investor part deux

Grand+Rapids+Foreclosures Follow Me Flipping Ramblings of a Real Estate Investor part deux

So I forgot my flashlight the day I wrote the offer and normally I dont look at any Grand Rapids Foreclosures that I buy for more than 5 minutes (No i’m not kidding) for fear of what I might find. I usually just figure there will be something wrong with everything. So I ordered the termite inspection and as always elected not to have the guaranteed inspection which would have only been $50 more.
Well, it had termites which turned out to be a blessing if you can believe that. Because of the termites I decided I should go check out the house a little closer, this time with my flashlight.
Now, usually I count on something being wrong with the furnaces, in this case there were supposed to be two. I also usually count on some serious electrical issues, along with some leaky plumbing, and a fix up or two on the water heaters, little did I think…….
As I walked down the basement steps (this time with my flashlight). I looked around for the furnaces to see what I had missed. Well I didnt miss any problems with the furnaces, because the furnaces werent there. The leaky water heaters that might need work, well they were stolen to.
Onto the electric issues, were there any electric issues? The question should have been was there any electric at all. Evidently copper prices are rising, because some brilliant fellow decided to steal all of the wiring all the way to the panels.
Thank god the pipes were iron, steel or whatever old pipes are made of, evidently not something that is not worth alot of money so they left them behind.
Whats an investor to do……………………to be cont
If you would like to get going, flipping homes for a living vistit www.TheForeclosureCollege.com
About the Author:
Eric Medemar specializes in Grand Rapids Foreclosures, Grand Rapids HUD homes, and Grand rapids Rental Property. He owns 32 Grand Rapids Rentals and has already made over $100,000 flipping real estate in 2007. Eric is developing an awesome real estate Bird dog program, along with some fantastic internet technologies for realtors.
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