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Author: Marty Boardman

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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How to Determine the Foreclosure Discount in Your Real Estate Market

It was March of 2012. I was in Denver at the BiggerPockets.com real estate investment summit to teach an evening session on fixing and flipping houses. At this conference I met a very intelligent man named Steve Cook. He told me he used to work at the National Association of Realtors as the vice president of public affairs. As it turns out, Steve was also at the BiggerPockets.com summit to l...
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6 Things That Will Balloon Your Rehab Budget

You probably own a car, or truck. And, if you own a car or truck, then you’ve probably had to have it repaired. There’s nothing worse than knowing you have something wrong with your vehicle, but not knowing how much it’s going to cost to fix it. Whenever we have something wrong with one of our cars, my wife and I like to play the “how much it will it cost?” game. It’s kind of like the gam...
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House on a Busy Street: Profit Killer or Killer Profit?

They say there’s no problem price can’t fix. As a matter of fact, I say this all the time to just about everyone that brings me a distressed property deal. Does the house need a new roof? Easy, take an extra $7,500 off the asking price. What about the HVAC system, does it work? No? Then give me a $4,000 discount. However, after almost 15 years in the real estate business I still have a...
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The Question Every Fix and Flip Investor Should Ask

When I first learned that my wife was pregnant 14 years ago, I was certain we’d have a boy. I’m not sure why. At the time I guess I figured I was a boy, and my only sibling was a boy. Plus, I wasn’t good with girls. In elementary school I had no interest in them. And by the time I was interested in girls, they had no interest in me. My biggest problem was I didn’t know how to talk to them. I...
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3 Ways Lazy Fix and Flip Investors Find Deals

“I will always choose a lazy man to do a hard job because a lazy man will find an easy way to do it.” - Bill Gates (maybe) The first thing a lazy man does when writing a blog post is start out with a famous quote. Unfortunately, according to Quote Investigator, Bill Gates never said, “I will always choose a lazy many to do a hard job because a lazy man will find an easy way to do it.” Nei...
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