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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Google Maps: A Fix and Flip Investor’s Most Important Tool

You’ve probably heard the old saying, “Give a man a hammer and every problem is a nail.” This may be true, but hammers are awesome. Especially sledgehammers. As a matter of fact, the sledgehammer is the only tool our crews allow us to use at our fix and flip projects in Phoenix and Milwaukee (if you’re fixing and flipping houses and do some, or all of the work yourself, read this article to fin...
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5 Inexpensive Items That Give Your Fix and Flip a Million Dollar Look

They call it the Happiest Place on Earth. As I child, I loved going to Disneyland because of the rides. Each of them provided a unique experience. One minute I was a swashbuckling pirate sailing through the Caribbean, and another I was traveling at light speed through deep space. Okay, maybe it wasn’t minutes between rides. More like hours. Those lines were terrible. These days when I...
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The 4 Categories for Every Fix and Flip Project

Each Saturday I ask my wife “What would like me to get done for you this weekend?” Then she reads me her list, which is longer than my arm. My next question for her is “Okay, what’s the most important thing on this list you want me to get done for you?” I once heard that if everything is important, nothing is important. This truth applies whether you’re getting your honey-do list done ...
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Why You Should Partner Up to Fix and Flip Houses

Since 2009 Manny Romero, my business partner, and I have fixed and flipped more than 100 houses in Phoenix, Arizona and Milwaukee, Wisconsin. Our partnership began out of necessity. At the time I was working for a local real estate investor in Phoenix who was buying houses at the courthouse steps (known as trustee’s sales in Arizona). Manny was on the road, a traveling salesman of sorts. ...
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5 Easy Steps for Finishing Your Fix and Flip Project Fast

I do all of the grocery shopping for my family. And I hate it. First, I have to come up with the list. That means planning all our meals for the week. Good luck getting two pre-teen girls and a wife to not only to decide on a menu, but agree to eat what's on it as well. Then there’s the store. Always crowded on the weekends, I’m lucky to find a cart and make it through the meat department wi...
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