In 2008, I bought this brick 5-bedroom, 1-bathroom end-rowhouse with a tiny kitchen for $76,000 via a short sale. I borrowed $100,000 from a private investor. I had a few things fixed, put in new carpet, and had the interior painted. I thought I could...
In the over 1,000 real estate transactions I've been a part of, I've seen some doozies. I want you to learn from the mistakes of others (including mine!) without having to pay the price that others paid. I bought my first investment property sight unseen at...
For aspiring homeowners and real estate investors, purchasing a multi-unit property has just become more accessible. Fannie Mae, one of the government-sponsored enterprises (GSEs) that plays a significant role in the U.S. housing market, has recently announced an exciting change in its lending policies. Starting...
In many cases, yes! Here is what you need to know. Lenders often expect a borrower to have at least six months' worth of payments in reserve, just in case it stays vacant or becomes vacant later. If you have enough savings to cover a half...
Almost everyone in real estate is talking about high interest rates. Interest rates are certainly higher than where they were two to three years ago. Are they high going back decades? The average mortgage rate going back to 1972 is 6.8%, so at 7.5% today,...
You're an experienced house flipper. People see your success. Many want to flip houses like you do, yet they don't do any deals on their own. Maybe they don't feel they have the knowledge or the knack for finding deals. Perhaps they don't have the...
Today on my 48th birthday, I wrote down a set of principles that run through my head on a daily basis. This is my gift to you. You are always just one decision away from a totally different life. The #1 skill for success in today's world...
It seems like the answer should automatically be, "Yes, give me my deposit back and terminate the contract for this money pit!" If your gut tells you to back out during the inspection contingency period, then do so...
Some people like the idea of buying a foreclosure but don't actually enjoy the experience of buying one. A lot of investors and bargain-hunting homebuyers tell me that they want to buy a foreclosure. I ask, "Why do you want a foreclosure?" A common response...
Over two decades, I've consulted hundreds of people who were looking to buy real estate. Some were novice real estate investors, while others were looking to purchase a home to live in. Some people were just too afraid to buy a house. I recognize that...
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