From the category archives:

Rehabbing

Real Estate Investing

The Best Real Estate Deal Might be the One You Never Do!

by Richard Warren | August 24, 2009

Sometimes your best real estate deal may be the one you don’t make. As realDSC00838 estate investors we are always looking for the next “perfect” opportunity. You look around and see potential everywhere and are afraid of missing out. If you aren’t careful it can lead to a fatal case of gotta-do-a-deal-itis.

In your quest to stay in the game you may convince yourself that a marginal deal is one worthy of your attention. Even worse, you may find yourself ignoring warning signs about the potential investment or the market as a whole. When you are knee-deep in the investment world it isn’t always easy to remain objective but your long-term survival depends on it.

Case in Point

A couple of years ago I was offered the opportunity to partner on a rehab deal. Another investor had found what seemed like a great opportunity but was short on cash. I had cash looking for an opportunity so I looked at the deal. It was an REO (foreclosure) in a blue-collar section of Las Vegas. It was an area that had reasonable demand and there was enough of a profit margin in the deal to make it attractive. I was in and we moved ahead with the plan.

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Blogs

Rehabbing To Flip

by Richard Warren | December 8, 2008

I’m on the final leg of my 2-1/2 week cruise of the Pacific Ocean.  Here is another repost of an article on rehabbing.  I’ll be back with a new post next week.

The Most Dangerous Game: Rehabbing to Flip
This week we will look at rehabbing with the intention of flipping. Of rehabbing for personal use, rehabbing [...]

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Blogs

Rental Property Rehab

by Richard Warren | December 1, 2008

I am now halfway through my 2-1/2 week vacation and currently in Hawaii. Here is another repost of a previous article on rehabbing.
Rehabbing A Rental Property
Last week we discussed rehabbing a home for personal use, this week we will explore rehabbing for the purpose of renting. Of the three main types of rehab, personal use, [...]

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Rehabbing

Getting Your Start In Rehab Real Estate

by Richard Warren | November 24, 2008

I am curenlty sailing the Pacific on a 2 1/2 week cruise (yes, this is a great business).  Rather than skipping my weekly posts, I thought I would share a previous article on getting started in rehab real estate investing.  And you thought re-runs only happened on TV!

Getting Started In Rehab Real Estate
You want to [...]

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Blogs

Municipal Building Inspector: Friend or Foe?

by Richard Warren | August 18, 2008

It’s 10am, do you know where your building inspector is? You certainly know where he isn’t, he isn’t approving the most recent work so that you can move on with your project. Your inspection was scheduled for first thing in the morning and the inspector finally shows up near the end of the day.  [...]

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Blogs

Real Estate Investing in a Small Town

by Richard Warren | August 11, 2008

I made my first foray into small town real estate back in 2005.  Having been used to large suburban markets, I soon discovered that this was a different animal.  Many large markets had run amok with rampant speculation that was driving real estate prices into the stratosphere and I wanted no part of the risk [...]

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Real Estate Interviews

Meet the Investor: Interview with Real Estate Investor and Landlord, Tom Cmunt

by Joshua Dorkin | March 21, 2008

We certainly have not been focusing on our investor interviews lately and we’re making a concerted effort to change that. We’ll start with an interview with one of our active BiggerPockets contributors, Tom Cmunt.
Tom has given much of his time to help fellow BP’ers through our forums and has become a staple in the [...]

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Flipping Houses

You Found A Great Rehab Deal. Now, How Do You Fund It?

by Richard Warren | March 10, 2008

You’ve been hunting for that perfect rehab deal like a Neanderthal stalking a mighty Mastodon. You’re sure you’ve found it. The after repair value and renovation costs will allow for a hefty profit. You should even be able to set a price that will result in a quick sale when the rehab is complete. There [...]

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Commentary

Haunted Rehab?

by Jim Watkins | February 11, 2008

This past week I saw a thread on the forum boards where an investor asked if anyone had experienced any type of ghost in any of the properties they have been involved in.
There was a fair amount of sarcastic answers which I thought were pretty funny and there were a few answers that were more [...]

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Rehabbing

Rehab Pros: DIY or Hire it Out?

by Connie Brzowski | January 13, 2008

You don’t need the construction skills of Bob Vila to be a rehab professional, yet it’s no secret you can save if you do some of the work yourself. As a general rule, estimates from contractors in our area run 1/3 for materials and 2/3’s for labor. So theoretically, we save 66% by doing the [...]

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Flipping Houses

The Rehabber’s Eye

by Richard Warren | January 8, 2008

Who hasn’t dreamed of buying a run-down house and fixing it up? For most it remains a fantasy as very few people actually pursue the idea. Of the few people who do make the attempt many fail miserably. Finding a house that needs to be rehabbed is easy; finding one that will allow you to [...]

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Rehabbing

Carpet or Tile? Rehab Decision Making for Nervous Newbies

by Connie Brzowski | December 29, 2007

Rehabbing a house can be a nail-biting experience, particularly the first time around. Sometimes, nice readers over at my blog email asking advice about their latest rehab project. Generally, the questions involve finishing issues such as whether to paint or replace kitchen cabinets, or if carpet or wood floors work better in a rental. I [...]

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Rehabbing

The “Ick” Factor

by Richard Warren | December 18, 2007

I had just acquired my second rehab project and I couldn’t wait to get started. Like the first, this was going to be my personal residence. It was a three bedroom ranch in a great area that I had acquired from HUD. Like many foreclosures it had been badly neglected and needed a fair amount [...]

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Real Estate Law

A Contractor’s Failure to Properly Register was a Crime Under New Jersey Law

by Joshua M. Marks, Esq. | December 17, 2007

In July 2006, Martin Korab hired Eric Rowland, a contractor, after seeing one of Mr. Korab’s advertisements under the name “Mercury Woods Carpentry” in the telephone book. Mr. Rowland gave Mr. Korab a written proposal along with a diagram detailing a bathroom renovation project, and accepted a deposit of $3,750.00 upon Mr. Korab signing [...]

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Commentary

A Nightmare Closing Saga – Part I

by Jim Watkins | December 16, 2007

Last year, I bought a house, rehabbed it and finally sold it. When I got a contract to sell it, the experience I endured was simply gut-wrenching. I got “sand-bagged” just about every way possible until I fought back… And WON! Here is what happened…

This house was the first house deal I had done since [...]

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