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Author: Marty Boardman

The 70% Rule and Why You Should Break it 100% of the Time

If you’ve spent much time studying the business of real estate investing, specifically fixing and flipping houses, then you’ve probably heard of the 70% rule. It goes like this… If the after repair value (ARV) of a distressed home is $100,000, then you should never pay more than $70,000. In other words, your purchase price should not exceed 70% of the ARV. This is what “they” call the 70%...
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How to Know if You’re a Wholesaler or Fix and Flip Investor

He was angry. And who could blame him? This man was going through a very stressful experience. Behind on his mortgage payment and facing foreclosure, no doubt he’d already received dozens of phone calls from his lender. Followed by an endless stream of letters from distressed property buyers offering to pay cash for his house. So when I knocked on his door and asked if he was intereste...
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Why You Must Have This Before You Start Fixing and Flipping Houses

They all looked so… Desperate. Tired too. As the speaker, slickly dressed in a dark blue suit and matching tie, addressed the half-full room I could feel the sales pitch rapidly approaching. I recall looking around at the attendees. Could any of them really afford the real estate investment program this guy at the front of the hotel conference room was about to sell? Probably not...
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The Best Real Estate Investment Advice Ever

I've done a lot of dumb things. I've said a lot of dumb stuff, too. As a matter of fact, most of my day is spent just trying not to say, or do, anything dumb. For example, my wife once sent me to the grocery store for a ham hock. She needed it for a dish she was preparing. I circled the entire meat department at least three times. The butcher, sensing I couldn't find what I was looking for, ask...
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Non-Permitted Work: A Fix and Flip Investor’s Nightmare

My spider senses were tingling. Something didn’t feel right. It didn’t look right, either. The house, located just east of the Milwaukee airport, had a lot of curb appeal. The sky blue vinyl siding was brand new. And the roof was flawless. The houses on each side, and across the street, were adorable. The price was definitely right. But, stepping inside the cute little Cape Cod style home...
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5 Lessons Learned From a Bad Fix and Flip Deal

He was like an angel, hovering three stories above the ground. Okay, he wasn’t really hovering. This contractor, likely sent from Heaven, was actually standing on a 32-foot extension ladder. His name was Santos. And, he’d come to our rescue. It was a chilly October afternoon. Dressed in a red sweatshirt and a warm smile, he climbed to the top peak of our Victorian rehab in Wauwatosa, ...
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6 Ways to Immerse Yourself in the Fix and Flip Business

She was upset. My youngest daughter, Audrey, didn’t want to be the red fish in the school drama club performance of Seussical the Musical. To her, the role was small and unimportant. Audrey was in the 4th grade at the time. And fortunately, she didn’t get too discouraged about receiving such a brief appearance in the show. As a matter of fact, the experience made her work that much har...
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What Exactly is a Foreclosure (And How Do You Buy One)?

Did you know that the word “run” has 179 different meanings? The word “take”, according to Dictionary.com, has 127. You can use these words as a noun, verb, or in verb phrases. Thanks to the website EnglishWithATwist.com for these examples for the word “run”: My dog loves to run about in the park (move quickly with legs) She runs a very successful business (manages) The bus compan...
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Why You MUST Ask (Almost) Every Contractor This Question

My brother lives about three hours away in Yuma, Arizona. Situated halfway between Phoenix and San Diego, this little desert town is known by most people as the point you stop to get gas on your way to the beach, or on your way home from it. Growing up in Yuma, I appreciate it for more than just a restroom stop and place to grab a combo meal at the interstate McDonald’s. What I love most ...
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Deal or No Deal: 3 Problems Price Can’t Fix

He was standing on the outer fringes of the crowd. I don’t remember his face, only the writing on his T-Shirt. The words read… There is no problem price can’t fix.  The man was a bidder at the Maricopa County Trustee’s sale. Held daily on the courthouse steps in downtown Phoenix, this auction attracts a crowd. At least it used to. Immediately following the real estate market crash of 2008...
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