“Using Hard Money the Right Way”
Wednesday, June 11
A couple of years ago, I received a call from an potential investor/house flipper. He told me that he had given up his cushy job in corporate America. Even though he was making good money, the job was going to kill him and at 35, he felt it was time to make the plunge to do what he said he was...
“Looking at a 100 Year Old Home with NO Closets”
Tuesday, May 27
“Looking at a 100 Year Old Home with NO Closets” The price of this home had dropped 25% over 6 months, my curiosity got the best of me. It is not usually a style that I go after, but decided to check it out. It was obvious what the problem was, there were no closets in this home, I mean no...
Using a Reverse Mortgage to Buy a Retirement Home
Thursday, May 08
I got a call from a prospective client from Alabama. He had been referred by her cousin that lives in a new over 55 community. She shared with me that she was planning on selling her existing home, but at the age 75 didn’t really want a mortgage. The value of her existing home was quite a bit ...
Profiting from a 203K Mortgage
Wednesday, January 29
Beverly wanted to purchase a bank owned property, as she was not afraid of doing repairs. She was able to find a 3 bedroom home that she negotiated for $102,500. The bid to do the renovations was $26,340. When the appraisal is done, two values have to be established, the purchase pr...
“Buy it Wrong Sell it Wrong, Buy it Right Sell it Right”
Thursday, January 16
I have been buying, renovating and reselling homes for more years than I care to admit. My philosophies are different than most, so I’ll share one of them with you. I am not about location, location, location, but rather price, price and price. I have purchased many homes in not so great loc...
CFPB Director Says Lending Now Back to Basics
Wednesday, January 15
Not so fast, they are taking way too much credit for how resilient the industry really is. Once lenders figured out that they were much too loose with their guidelines they tightened them, actually too much in my option, but that is another story. One of the so called new guidelin...