Creating Wealth Through Real Estate

I hope you all have enjoyed our videos as much as we had producing them! They were a lot of fun and hopefully eye-opening for you.

Nationwide Property Investments has a new hands on program called Make Me An Investor which is an 8 week program teaching students EXACTLY how to maximize profits on REO rehab flips. Our next program starts soon, so take a look at our final video right here:

We are now under contract on our Granada Hills home! Listed on MLS Monday and agreed purchase contract just three days later! Not too shaby!

Buyer has 17 days of contingencies and then must close or lose the EMD (earnest money deposit). It was difficult, to say the least, to inform the now back up offer buyers that they are not getting the home. They loved it and are quite dissapointed.

Competition is certainly fierec in our market and the back up offer buyers agent eluded to that fact by explaining they have been second best several times. I feel bad as I understand their position.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Our Granada Hills REO rehab flip went very well and we just put it on the MLS late Sunday night, so Monday was the first work day that the agents could see it. We had 5 showings on Monday, plus two walk-ins. On Tuesday, we had 9 showings, and today, my phone keeps ringing from agents who want to show the property!

I alsready have three offers in, and they are very strong offers indeed. One is above ask price with 20% down (not too shaby!). I am telling the agents today that they are more than welcome to show the property, but their clients had better get there fast and write an offer tonight, as tomorrow will be too late. Looks like I have the offer I want, but will give it one more day to see what else comes in.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

After only one day on the MLS, we have received a very strong offer from a potential buyer which will be scrutinized closely. We have had 7 showings from RE agents in just one day and have been informed to expect another offer which is to be all cash!

This is great news for us and was to be expected as the low inventory levels and all our other due diligence pointed to this result. The offer (which can not be discussed at this time) is very strong, conventional financing and I like the buyer. The buyer has a very strong credit score and history. We have until tomorrow to respond/counter and I will update you all on the outcomes.

As I type this blog post, I just answered another call from an agent who will be showing the property and has a very strong buyer with a large downpayment. We will see what the offer comes in at.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

We have completed the rehab in Granada Hills, CA and it now awaits a buyer, We have pre-marketed the property and it just now hit the MLS. It was a lot of work and we put more into it than originally planned, but we are very happy with the results and all potential buyers and agents have loved the home and complimented on the quality of the workmanship.

If you would like to view it on the MLS, you can by searching the MLS # T09089044 and you can also view it both on our wbesite and on realtor.com  All agents are encouraged to bring their conventional (or all cash) buyers as we do not expect this georgeous home to last long.

I will update you all on the progress of the sale as it happens and post any details that occur. Be sure to keep an eye out for our next video and if you are interested in doing what we do, then you must join our next make me an investor program which is a hands on educational experience lasting 8 weeks and no details are left out. We are accepting requests for interviews as not all candidates will be accepted. Contact us by email with any questions or for an interbiew request.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Time is running out! If you want to learn EXACTLY how to profit from REO properties in this market and stop wasting time with the other unsuccessful methods, then contact us immediately for an interview. We will review each candidate for entry into our program and there are limited spots available. Send an email to info@nationwidepropertyinvestments.com for details and an interview request.

Our Granada Hills, CA rehab project is near completion and we are offering all agents and buyers a preview of the home BEFORE it goes to the MLS. If you are an agent or buyer, contact us via email to express your interests.

The minimum price that will be accepted is $480k and the buyer must be conventional (no FHA). The home is a 4 bed 2 bath 2307 square feet wih 2 car attached garage. It has a pool, spa and bonus room with office, room for pool table and built in bar area. This home has been completely remodeled with new stucco, new paint in and out, new windows and sliders, new kitchen appliances, pool was re-plastered, travertine tiles in bathrooms, granite countertops, new carpet, new ceiling fans in each bedroom, and much more.

This is a must see and due to the very low invesntory on the market, this equity sale will go FAST! Get your preview and have the opportunity to submit offers BEFORE competing with the MLS buyers.

10564 Collett Ave, granada Hills, CA 91344.

Previews will start This Friday, August 7, 2009 and you must contact us for a showing.

Today was a very productive day at our Southern CA rehab project. While I had to deal with some quality control issues on one end which set us behind on our time line, I was productive in other aspects.

Cleared the pile of scrap in the backyard and tossed it into the dumpster, went to my second home (Home Depot) and picked up some sheets of 5/8" plywood to lay down as flooring in the master bedroom (the floor level in this room was 5/8" below the hall and other bedrooms and needed to be raised so the carpet had no transition problems once it is laid), the toilets for the two bathrooms, some misc. supplies, and materials to build a small fence around the pool equipment.

The flooring in the master bedroom (plywood purchased) was installed and screws were used to keep in place, the bricks and mortar were completed in the front entryway (they look great), and I repaired several of the broken fence pieces in the backyard. It was hot today (not quite as hot as the previous few days) so I jumped into the pool to cool off towards the end of the day as I have the previous few days. What a life saver this pool is!

 I was not satisfied with the texture coating and paint job in the bedrooms so I had the project coordinator come to the job site to talk about my concerns. He will have the workers sand down the texture and repaint the areas so that the quality meets my standards and I was happy with the implementations he instructed the workers to perform. Tomorrow, I will again check the quality of the work to make sure it is to the standards our potential buyers would expect in a home of this quality and cost.

This set-back is a perfect example of why it is so difficult to perform and manage a rehab project form out of state and why I will not do so again. All of my rehab projects are and will be local, and when the time comes that the market is not condusive to this strategy, I will adjust and adapt as I have always done.

We had the livingroom fireplace completely refaced with red brick (the existing brick was old and ugly, and some were missing or broken) and it looks fantastic. It really makes the room and since we removed the ugly 70's style wood paneling on the walls in the living room and dining room, the new look will dazzle the potential buyers who see it. I am very pleased with the outcome (although it was an added cost not factored initially, the expense will be re-couped in the sales price).

Looking forward to what tomorrow brings!

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

As most of my blog readers know, my most recent REO purchase was made in Granada Hills, CA for the very low price of $312,500. I have since put $42,000 into it in rehab expenses and it looks like a brand new home! It will be sold to an end buyer for at least $485,000 which will give a gross profit of $130,500. After holding costs and re-sell costs, the net profit (pre-tax) will be over $90,000 on just one deal!

Follow our video series on this rehab project and watch how we do it. We have several students in our "Make Me An Investor" Program and they are in their 5 week of the 8 week program. They are doing fantastic and are learning the process in a hands on fashion, getting all their questions answered, and travel with us to potential rehab projects, to our current rehab project, as well as listening to actual phone calls with agents and service providers.

We are announcing the second round of our Make Me An Investor Program today and invite each of you to contact us by email for an interview request. As in the first round, not all applicants will be accepted. We are looking for dedicated and motivated people who want to learn the right way and who are truly committed to success! In doing so, our student success rate will be second to none. Getting the tools and contacts necessary is only one step in this process. The other is up to you! You must do the work as the profits will NOT just fall into your lap. Our program is not a get rich quick scheme or some bogus means to artificially excite you. You WILL be required to put forth the efforts required to be successful and those who do not show the qualities to do so will not be allowed into our program.Limited spots will be available so contact us ASAP for an interview request.

If you had an interview for round one but were not accepted or did not enter the program, we may require you to re-interview so please contact us by email to check in. We can take both local or out of area candidates. The local candidates have the advantage of personally visiting our rehab projects, but our out of area ones are certainly invited to do so and we also have many videos and visual aids to make you a success.

Our 8 week program will teach you exactly how we locate, negotiate and close REO properties at steep discounts, rehab them, and then re-sell them for maximum profits. The program includes building your team, funding your deal (includes locating private funding), dealing with contractors, exit strategies (including wholesaling), market and financial analysis, calculating rehab costs, and much more! No stone will be left un-turned and ALL of the strategies and techniques we use for success will be shared with our students for this money making investment strategy.

All candidates are required to interview for a spot in the program. You may do so by sending an email to us at will@nationwidepropertyinvestments.com expressing your interest in entering the program.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Follow his new video series on buying, rehabbing, and flipping REO's for maximum profits at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

We just completed part IV of our Make Me An Investor Video Series and are very pleased with it. It has been a lot of fun doing both the rehab on this project and filming the videos so that you all can follow along with us.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Today, the pool was replastered at our Granada Hills, CA rehab project and it looks great. The pool will sparkle now once the water has filled. (Can't wait for the pool party!) The tile in the entry way, dining room and kitchen was picked up today and our crew got a great jump start on the install of it. It really looks fantastic and will be a warm and inviting experience for potential buyers.

The roof repairs were also completed today and the two bathroom remodels are done except for the vanity installs (all the travertine is installed and the walls are all done and repaired). I spent a few hours cleaning up the scrap from the back yard and front yards and tossed it in the dumpster, watered the lawn in the front and cleaned up the front appearance as we get closer to having potential buyers look at the property now that it is close.

Monday or Tuesday will be the day in which the interior walls get texture coated,  the remainder of the baseboards installed, and then the painting. The exterior is mostly complete other than a few touch-ups and the front elevation, which has been dramatically changed, looks fantastic! The before to after pictures of the front elevation are going to show a dramatic improvement, so much that it will look like two different homes. Of course the interior has some dramatic and fabulous changes as well!

We also had another conference call with some of our students today going over the weeks work as well as the past two weeks. It was another great session and our students asked some great questions. Next week they hit the streets again and get some offers made. We look forward to seeing their first deal contracted!

Stay tuned for our next update as well as the next video in our Make Me An Investor Video Series.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Welcome back to our updates on our new investor program called, "Make Me An Investor" It is all about teaching our students EXACTLY in full DETAIL from start to finish, how to buy REO's, rehab them, and re-sell them for maximum profits. Our current students are doing great and are loving every minute of the program. We are real educators teaching othres what we do, as we do it!

Take a look at our video series, part III.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Today was another very productive day at our Granada Hills, CA REO rehab project. The plumbers put in the new pipes and fittings for the bathrooms (shower, bath, and sinks) and got rid of some of the old piping that was no longer used and just in the way. The master bath shower is completely framed in and the hot mop guys came out and did their thing. (Dang does that stuff smell!) After they completed the work, the shower was filled with water and then it will be checked tomorrow to be sure there are no leaks.

I went to our tile suppliers today and picked up some great looking travertine tiles that are 18" squares. They will go into both the master and hall baths for the floors and shower and bath. I got a smoking deal on these and when the buyers walk through this home, they will be very impressed indeed!

The finishing crew has all the new door jams and doors hung and the door moldings have been installed. Some of the baseboards have also been installed and it all looks great. Most of the paint prep is complete and the walls are ready for painting but that can not start yet until some other items are completed, such as the tile installation in the bathrooms and some electrical work in the bedrooms (ceiling fans and wiring install) as well as some other minor items.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Today was a very productive day. Almost all the 6 panel interior doors were hung (they look great), much of the drywall and paint prep is finished, and the floors in the bathrooms that were bad have now been replaced. The master bath shower has been re-framed and the layout of the lighting and fans for the bathroom and shower are now confirmed.Tomorrow, I will go back to Home Depot and get some more electrical supplies and lighting fixtures and then install them so the finishers can complete the drywall and prep in the master and hall baths.Today also marked the first phone conference with our "Make Me An Investor" students and they had many great questions. The phone call went very well and was most productive. I felt very excited as if I was learning for the first time again! I enjoyed all the questions and hope that our students equally enjoyed the answers. I am very confident that with hard work and perseverance, each of our students will reach success!

Until next time, stay tuned. . .

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Part II of our video series is now released. Today at our rehab project in Southern CA, we had some surprises in the bathrooms, completed all the demo work, got a great start on the drywall and paint prep, and even had one of our students present on site! He was able to walk the entire project with us, asked many questions and went back home with a greater understanding of how this business works.

Watch our newest video right here on our BP blog as well as on our website at www.nationwidepropertyinvestments.com/videoseries

Today, I had two crews working on the balance of the demo today on our Southern CA REO rehab flip. The bathrooms are now gutted and the walls are knowcked out in the areas needed where we will be re-arranging some items. I personally did the demo on the tiles in the family room where I will be changing the flooring to carpet to warm up the place.

The second crew finished the rest of the baseboard and door casing removals as well as the balance of the interior doors and jams (all will be replaced new). They also scraped the hallway ceiling where the acoustic was and the bonus room was prepped for painting. Tomorrow, the bathrooms will be looked over by myself and my contractor to decide exactly how much tile and other materials are needed.

I went to Home Depot again today to pick up the panel boards for the new skirt around the spa I wil have built as well as the cast iron tub for the hall bath. Unfortunatley, the trip to HD tok longer than expected, so by the time I got back, all the workers were gone, so I could not unload the tub out of the truck on my own. It remains there now as I had to leave it in my truck (no harm, no foul).

Today marked the start of our "Make Me An Investor" program and our students received the first weeks information to get started building their team. A phone conversation is set for Wednesday to go over in detail everything that is needed to accomplish as well as answer any and all direct questions our students may and will have.

What is even more exciting is that our students have been invited to the rehab project to see first hand the process in action. Not only that, more filming will be done on the project and any students present will have the opportunity to be part of the videos. There will be more opportunities for the students who do not make it to the job site tomorrow, as we will make sure each of them get first hand experience. Stay tuned for our next blog post which will update you even further on the process and the exciting things that are to happen!

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Today was major interior demo day! I did much of the work myself, for one to keep costs down, and for two, it is great anger management! There are so many ways to release aggression doing demo work, and best of all, it is productive.

I took the sledge hammer to the bathroom countertops, shower tiles, and vanity. The only thing left in the hall bath is the toilet and the tub (my crew will get that on Monday). In the master bath, more of the same, but the shower is not finished with the demo work as we are moving some walls and re-arranging the layout.

The floor tiles in the living room were pulled up as well and the dumpster received lots of action today! My pool guy (also a very good friend of mine) drained the pool and cleaned it out. It is now ready to be re-plastered next week. It will look great when done and really add value to the home. My bathroom remodel crew starts Monday and they will finish the demo work, finalize the material order and start the rehab.

Stay tuned for the Monday report on this exciting rehab project and we should have more videos for you soon.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

We have finished the filming and editing of part one of our new video series, "Make Me An Investor" and you can watch the video by following us on twitter. Just go to my profile and click on the twitter link, "what am I doing right now"

As soon as I figure out how to embed the video right here on this blog, I will do that as well. If you know how, feel free to comment here with instructions. I appreciate any time saving assistance I can get!

As we work through this particular REO rehab project in Southern California, we will be filming the progress and posting the videos here on our BP blog as well as on our website at www.nationwidepropertyinvestments.com/ourblog so be sure to watch it. It will be a great learning experience and lots of fun too!

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Our Granada Hills REO rehab project is moving along. Today, I took delivery of the roll-off dumpster for all the trash and demo debris. We also started the demo work on both the interior as well as the landscaping. Trees were trimmed back, bushes removed, etc. On the inside, we took down the pony wall in the living room, removed the old style wood paneling in the living room, and started the demo on the bedroom walls where we will adjust the closets (details to follow. Much of the demo work and debris was hauled into the dumpster which was placed in the front driveway. We are off to a great start!

I also finalized the timelines with the contractors as well as lined up some electrical work/planning to be done on Friday. My partner and I took a break for lunch and met a couple of fellow investors for lunch at the Bear Pit which is right around the corner. I have met several investors there, including one from BiggerPockets (You know who you are). Boy do they have great BBQ! Anyways, one of my friends we had lunch with was Rosie Nieto who runs a great real estate investment club in Los Angeles called the naked Real Estate Investors Club, "The bare truth about RE investing". We had a great time and she confirmed us as her guest speakers again for this August's meeting. All you local CA investors should come and check out her club and us speak! Her last meeting was a blast!

The best part about today was the video filming started and we got many great shots and footage which will be professionally edited and completed by Thursday, and then posted here and on our website shortly after. Let the videos begin!!!!! Stay tuned for my next post on this rehab project, as it will have real life videos of us in action.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

I was scheduled to close today with the Granada Hills, CA REO Rehab flip, as all the funds have been wired into escrow (last week), and all the documentation has been signed (no loan docs as it is all cash). Unfortunately, the people working for this bank and their escrow company have their heads up their (well you know the saying). My broker just emailed me the HUD which he JUST now received (we have been requesting it for a week now) and stated that in ALL his years dealing with REO's, these people are the biggest idiots he has ever come across.Oh well, guess we close Tuesday (I hope).

So I planned on doing some of the exterior demo today but could not as I don't officially own it yet, but I went there anyways to get a head start. First thing I did was water the lawn (on the banks dime!) and then I started cleaning off the roof which was full of leaves and pine needles that appear to have been up there for several years. I used a large push broom for some, but the best was the blower which blew that crap right off the roof. It was kind of fun, but dusty.Next, I trimmed the many tree branches which were hanging down over the driveway, over the roof, and over the front yard. They were low enough that you could hit your head on several of them. After that, I cleaned up the area, stacked the branches in a nice pile and filled up the trash cans with the debris. I spent about 2 1/2 hours there all together and the end result was a much more appealing look from the curb. You now have a clear view of the house from the street, as before, the view was blocked by the low hanging tree branches.

Assuming we close tomorrow, & it does not rain, I will start ripping off the wood paneling on the house in the back yard and hopefully get to the front as well. Once complete, the window installers go first, then the stucco guys go next. The two front windows facing the street are going to be ripped out and I will have the areas re-framed to hold a 3' X 5' replacement window rather than the long vertical existing ones. It will make for a much better curb appeal from the exterior and more wall space in the two bedrooms on the interior. I also will have the roll-off dumpster delivered so that all the demo trash can be tossed into there for easy storage and haul off.If it does rain, I will start on the family room wall demo work & the dining room wood paneling removal to get a head start on the interior. If I have time, I will also start on the bathroom demos which will involve removing the shower doors, removing the tub, removing the existing floor and tub tiles and removing the existing old and ugly cabinetry/sinks.

Photos and videos to follow. The video footage starts tomorrow. I am very exited about that. Videos will be posted here on my BP blog as well as on our website/blog - stay tuned!

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

And the candidiates are . . . . .

Not quite yet, the public will have to wait just a bit longer. The selected candidiates are being informed via email as we speak as to their slecetion into our program. They each have a deadline to meet which is Monday at 3 PM. Once we have all of our selected candidates meet their given deadline, I will publically announce who they are. This will take place on Monday, sometime after 3 PM Pacific time.

We are setting up times and dates for our videos to be recorded so that each of you can follow the rehab project as well as follow the progress of our students. We are working on something very special and top secret and it will also be announced in the near future so stay tuned for that as well.

To be continued . . . .

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

I am getting ready to close on my Granada Hills, CA property in which I will do a rehab and flip to an end user (retailing). Most of the funds are my own cash and I have lined up a private investor to pick up a small portion of the acquisition (only 23% LTV)

Today, I will speak with my contractors and arrange a schedule of which items get done first, second, and so forth. Scheduling is an important factor as you need to do certain things in sequence. For example, you don't want the carpet guys scheduled to install carpet before the painting is complete. The other important factor is keeping my crew on schedule and not falling behind. I will allow some cushion time in each scheduled task so that if anything does get delayed, it does not push back the entire project due to the cushion time allowed. Many of the items can be done on the same day. For instanc, the exterior stucco work will be one of the first to get started and the intereior bathroom remodels will be started at the same time as both tasks do not interfere with each other.

Once we actually start the rehab, I expect to have some video feeds for you all to watch. Until my next post, happy investing and I look forward to creating wealth through real estate!

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Hellow fellow investors. As promised in my last blog post, I would blog about my Granada Hills, CA rehab flip project I currently have in escrow with the bank. For those who missed my other post, I got this REO at a steal and was originally going to wholesale it to an investor, but my numbers came in even better than expected and I decided to keep it all for myself.

Now that the difficult part of getting the right deal under contract is complete, I have been getting my bids from contractors and service providers on all the rehab work needed for this project. I have been meeting several contractors at the property location going over in fine detail what I want done, and what I expect of them. I am still waiting for some final bids to come in and then I will make all the decisions as to who gets what job for each item.

Here is a list of items I will be doing on this project:

Demo wood paneling on exterior, stucco all areas where panelling was removed, replacing two windows and two window sliders, paint entire exterior including the eaves, repair damaged wood on eaves, very minor roof repairs, adding an attic fan with thermostat control, repairing pool tiles, replacing pool heater, replacing spa skirt with new wood siding and paint, adding carpet to living room and master bedroom, remodel both bathrooms including new shower, new tub, new tile, new vanities, new countertops, new sinks, etc, replacing all interiro doors with new 6 panel prehund doors from HD, adding new baseboards & door mouldings throughout entire house, painting entire interior of home, adding new stove, oven and dishwasher in kitchen, building shelving in pantry and adding a nice glass door, and finally doing a complete overhaul of teh landscaping both in front and back to create a very nice curb appeal.

My original budget was for $38,000 and it looks like I will be able to keep it to $30,000 or under. Next is to have my home inspector come out and inspect the property. I ALWAYS hire these professionals, no matter how well I self-inspect, simply for peace of mind and to have another set of professional eyes on the problem. I could easily have missed something or two. The cost is minor and is worth it to me. I recommend investors to get this done. Cutting corners to save a few hundred bucks does not seem like a smart move to me and if your deal is so tight, you can't afford this, you don't have yourself a good enough spread in your deal. Same goes for the appraisal. I will be ordering this as well. Although I pull my own comps and visit each of the properties in person, I want to have another opinion on my ARV price point. Again, it is worth the extra costs to me for another pros opinion. I am paying all cash for this deal, so an appraisal is not required, but it is by my standards and I also recommend other investors do the same. A mistake in your own inspection or appraisal could cost you much more than the simple costs of these two services.

In my next blog post, I will provide some photos of the project and update you on how the quotes came in, who gets the jobs, and what the status of the closing is.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

When the real estate market was going crazy and prices were climbing 50 times faster than incomes, flipping in CA was so easy, even a cave man could do it. In fact, several did! (ha ha) In a down market, flipping is not so easy and requires a combination of great contacts, extensive market analysis and research, tons of man hours, and a bit of luck getting the right place for the right price.

So, can investors flip in Southern CA, making nice profits while not exposing themselves to undue risk? The simple answer is yes, but as previously stated, it is easier said than done.

I currently contracted an REO in Granada Hills, CA and was able to get this great property for a steal from the bank. I had sent out some emails to persoanl contacts as well as posted an ad for it here on BP and had quite a lot of responses, all wanting more information, which I provided. During the process of my due diligence, which included getting bids from contractors and service providers for the rehab/upgrades, I found that the projected repairs were higher than the actual costs and the re-sell value projected was lower tahn the actual. That is a very uncommon occurance, usually the other way around. That being the case, I have decided it has too much equity and profit to give away and thus, I will be completing the transaction and rehab /flip myself and not wholesaling it to anyone.

Lesson to be learned here? If you snooze, you loose! If any one of the many interested parties had pulled the trigger fast enough and contracted with me, they would be reaping the rewards of my aggressive repair numbers and lower re-sell numbers.

Since I intend on posting more frequently on my BP Blog here, I will be writing about this project from start to finish so that you may all benefit from reading and viewing an actual CA rehab flip from start to finish (including the pool party bash after rehab work is done). The before pictures may be found on my property listing, however, keep in mind that I will no longer entertain an offer to purchase it.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!