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Are You a Wholesaler or Fix and Flip Investor?

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The term “flipping” is thrown around a lot by the media, real estate gurus and Realtors. Heck, our site is called flippingphoenixhouses.com. But there’s a big difference between flipping a house and fixing and flipping a house. There’s the person who flips a house for a profit without putting any real time or capital (their own or someone else’s) into the property and there’s the person that in...
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The iPhone – A Tool Every Fix and Flip Investor Should Have

The carpenter has a hammer. The plumber has a plunger. And the real estate investor has an iPhone 4s or 5? Why of course. Watch this 4 minute video and you'll see that the panorama camera feature makes the iPhone 4s or 5 a must have tool for the fix and flip investor, Realtor and real estate investor.
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Why I Love Do-It-Yourself Homeowners

Everyone has a weakness. For Superman, it was kryptonite. My business partner, Manny Romero, can’t handle the smell of cat urine (I know this because we walked through an REO house once that reeked of it and he had to make a fast exit after just two minutes). As for me, I get turned inside out for the new, shiny, techy stuff like iPhones and flat screen TVs (the new iPad with retina display is on ...
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The Pros and Cons for Hiring Licensed Contractors

I like to fix and flip houses. I also like to save money, which is why I’m always conflicted when it comes to deciding whether or not to use licensed or unlicensed trades for my rehab projects. There are pros and cons to both. Licensed tradespeople are required to carry insurance, which protects me, the property owner. If a licensed plumber burns my house down with a blowtorch then his insuranc...
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Phoenix Housing Market Update: 8/10/12

Haboob. Say it out loud. Haboob. Sounds funny right? Almost dirty. What is a haboob? A haboob is a dust storm. So I guess it is a dirty word. In August, haboobs are pretty common here in the desert southwest. These towering walls of dust approach our city limits quickly and cover everything in their path with a thick layer of silt, much to the delight of local car wash owners. But automobile...
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Determining Your Target Fix and Flip Property

When the latest gadget hits the market, whether it’s a laptop, camera, smartphone or application, I’ve got to have it. The bottom line is I love new stuff. I love new, or newer houses too. Thus, my target property is a home built in the last 20 years. Here are my buying criteria: Tile Roof Wood frame construction Stucco exterior Minimum 3 bedrooms, 2 bathrooms, 2-car garage Home built ...
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To be or not to be a Realtor-Investor

Do NOT get your real estate license. He made it very clear. My attorney explained to me that, as a Realtor, buying a house directly from a homeowner in foreclosure was a big mistake. Why I asked? He told me that the home seller could mistakenly assume that I represented him in the transaction. If this happened my fiduciary responsibility would be breeched when I flipped his house for a profi...
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Simple Staging Tips for a Fix and Flip Deal

I’m no Martha Stewart.  However, I know a kitchen looks better with staging than it does without. Professional interior designers will tell you that a vacant home’s kitchen, dining room, family room and master bedroom should be staged with furniture, pictures, bath accessories and greenery to help “identify” the space (a fancy way of saying these items help the buyer figure out how their stuff ...
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Phoenix Housing Market Update: 4/22/12

They say what goes up must come down.  This was true for the Phoenix housing market through much of 2009-2011.  It seemed like anytime we got any traction with upward pricing some external market force (i.e. expiration of the federal housing tax credit, robo-signing scandal) would push values right back down again. With the worst of the foreclosure crisis behind us (trustee’s deeds for last mon...
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Short Sale Diamonds in the Rough

The last house I bought at a trustee’s sale was November 22nd, 2011.  The last REO I purchased was December 20th, 2011. It’s not from a lack of effort. The last week of February and the first two weeks of March I bid daily, on as many as 6-8 houses.  The closest I came on one property was $11,000 short of the winning bid.  Needless to say, it’s silly season down at the courthouse steps. ...
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