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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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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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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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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What a rush, closing on that first rehab deal! Now it’s time to start making every mistake in the book, at least that’s how it was for me. On the surface it looked like a great deal. I had purchased a bank REO for about 60% of the market value after repairs. I had construction [...]

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Doom and gloom is everywhere. Foreclosures are at record highs, builders are swimming in inventory, the mortgage market is in a shambles and there seems to be no end in sight. Buyers are afraid to buy because the market might go lower. Sellers are in a panic because there seems to be no hope of [...]

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I realize that the title of this post is a bit cryptic, but it will soon make sense to you. We’ve all heard of the shows: Flip this House, Flip that House, Property Ladder, and I’m sure there are even more of ‘em out there.
These shows romanticize the act of rehabbing properties and [...]

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