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Acquisition

16 Reasons Fix and Flip Investors Need MLS Access

Posted on by Marty Boardman
What if I told you that there was a database full of valuable real estate information that could earn you hundreds of thousands, and possibly millions of dollars? How much would this be worth to you? What would you be willing to do to have access to this precious data? Your Local Multiple Listing Service (MLS) Nearly every town and city in the United States has a local multiple listing ser...
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The 70% Rule and Why You Should Break it 100% of the Time

Posted on by Marty Boardman
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

Posted on by Marty Boardman
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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Non-Permitted Work: A Fix and Flip Investor’s Nightmare

Posted on by Marty Boardman
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

Posted on by Marty Boardman
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

Posted on by Marty Boardman
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)?

Posted on by Marty Boardman
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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How to Determine the Foreclosure Discount in Your Real Estate Market

Posted on by Marty Boardman
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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House on a Busy Street: Profit Killer or Killer Profit?

Posted on by Marty Boardman
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

Posted on by Marty Boardman
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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