Hello everyone.... today I'm flying off to Utah for my very first real estate seminar. As I said in a previous post, I signed up for Bob's KISS Flipping seminar and am TOTALLY looking forward to it. I'm hoping to learn skills/tips to consistantly find deals and take my RE business to the next level! Woo HOO!
I pre-signed for the "auction house" closing last night. The buyers are closing today so all should be good. I think we will walk away with about $6.5k on this one which is pretty good, certainly no slam dunk, but decent nonetheless. With the KISS Flip training under my belt I'm hoping to locate properties with a MUCH higher profit margain. If I can close 5 deals/yr with a $20k - $30k profit margain vs. 10 - 15 deals with $5k - 15k profit margain my life would be a lot less stressful. I also want to investigate other ways to make monthly income. My 'end date' is fast approaching and I can honestly say that I am no where near where I need to be as far as situating my living expenses! Focus, focus, focus!
We never had any interest in our rental property so we are now in the process of putting on a new roof, fixing some siding, putting in some new windows, painting the inside/outside, new carpet and then doing some minor landscaping. I'm still not sure we'll be able to sell it so I'm thinking we're going to have to put a renter in. After we get the renter in I'll probably put back on the market because it seems rentals are easier to sell with a renter in place?! At any rate, when we the work is complete on the property I think I am going to ask the RE agents in the town where this property is located their thoughts on price and selling vs. renting. I'm not really sure how I am going to approach my current agent about this but I think it would be in the best interest of selling the property quickly to go with a local agent!
Another 2 weeks has gone by and only 1 thing has been done on the "A Hole house". 2 Weeks! I am really getting stressed about their lack of concern. I have told them time and time again that I would be happy to help get things done, organize/schedule work to be done, etc. and they always tell me they have it under control. URGH!
The bank ended up accepting our price of $45k on the property we were negotiating last week. However, after going over the numbers again, taking a look at the property/work needed we decided the numbers were just too tight and we didn't accept their acceptance. Maybe of we could get it for $20k? Ha, ha. I'll keep watching it, you just never know!!!
I think that's all the updates I have for now. It doesn't look like I am going to make Steph's 30 day challenge AGAIN! We'll see...
I hope you all enjoy the rest of your week/weekend. I know I will!!!!!!