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Closing costs!

Closing costs are the fees you have to pay when the title to the property is conveyed to the buyer at the closing of a real estate transaction. These costs must be incorporated into the total amount of expenses you estimate that you are in for, for your property. Though closing costs can fluctuate, the [...]

ARV (After Repair Value)!

The After Repair Value, or ARV, is an estimated value of a property after it has been completely renovated. It is one of the most critical things you need to know when buying an investment property in need of rehab.  What is the property going to be worth when the rehab is finished? And it’s [...]

What is a REHAB?

A rehab is a property which requires some amount of repair, renovation, or other type of structural or cosmetic improvement. Other terms for rehabs include fixer-uppers, handyman specials, and flips. Another phrase for purchasing, renovating, and selling a property is called flipping a house. Essentially, what you do with a rehab is you buy a [...]

Numbers, numbers, numbers!

When you start to get into a rehab property you are really getting into a mathematical situation. This can be scary if you are not mathematically inclined, but if you understand that with a rehab it’s all about the numbers, you will be able to calm down a bit and know what you have to [...]

My Perspective!

I was there too and it was so much fun. We were basically doing the rehab ourselves because we just didn’t have the money to hire someone to do it for us. Even though this was not my first rehab deal, it was Michelle’s and she was involved in every piece of it so that [...]

The potential to make money!

One of the most beneficial aspects of wholesaling real estate is that it gives you the potential to make a lot of money and build your real estate empire. Once you are established in your area, know the good deals from the bad ones, and have a good list of sellers and buyers, you have [...]

Building your Seller’s List!

As you build your buyers list, you may also feed your sellers list. This list comprises resources of those people who are looking to sell properties. This will run the gamut of individuals or families who are moving to other areas, or are upsizing or downsizing their living arrangements, to realtors, asset managers, banks and [...]

What is your monthly income?

A recommended standard of minimum monthly income for a tenant should be two and a half to three times the rent amount which helps to ensure that the tenant will be able to afford to rent your property. This isn’t a guarantee at all though, as the tenant may have high monthly bills and obligations, [...]

How many people will be living in the rental?

Knowing how many people will be living in the property lets you determine how much more wear-and-tear the property will experience. You may want to adjust the rent or security deposit, or restrict the number of people who can live in the house. Also find out if they have any pets that will be living [...]

The Watch Story: Michelle

Camilo and I were walking by a watch booth at the mall. He pointed out a particular watch that he really liked. I made sure to remember which one it was because I had been interested in giving him a "congratulations" gift for closing a very significant deal that he had to work very hard [...]