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If You Are Looking For Everything You May Find Nothing

Monday, April 20

    Looking for profitable deals in metro Detroit. Want 20% ROI and at least $250 per month positive cash flow. Will not pay more than 70% of ARV minus rehab costs. Prefer seller financing, lease option, etc.     How many times have you heard this type of pitch? Is there any investor who wouldn...


It’s Just a Meeting. Why Bother?

Thursday, April 16

    I attended a real estate investor meeting last night. (This is an unusual meeting as there is no speaker—it is just a networking event.) It is one of several meetings I put on my calendar. (This one was started by a couple Bigger Pockets members). It is a rare month that I don’t attend at le...


Multiple Exit Strategies May Multiply Your Profits.

Monday, April 13

    Some people claim you earn your money when you buy and get it when you sell. Often, you earn your money well before the sale—you earn it when the contract to purchase (purchase agreement) is signed by the seller. This can be true even if you don’t know what you are going to do with the prope...


What Rates And Terms Should You Expect From Your Private Lender?

Friday, March 27

    The answer to the title question is the same as the answer to many real estate questions—it depends. To answer this question we must have a common understanding on some terms that are not well defined. When I say “private lender” I mean someone who is not a professional lender. They are ofte...


If You Say It Do It

Tuesday, February 24

    I do very little soliciting for deals. Most of my partners are referred to me or we connect at REIA meetings. Many of these new connections are potential partners, especially those who are referred by current partners. Unfortunately, many of them take themselves out of consideration for sill...


Money is Everywhere.

Thursday, February 12

0.01, 0.1, 0.75, 0.9.     Any guesses as to what the figures above represent? C’mon, be a sport, take a guess. OK, I’ll tell you. Those are the interest rates I am earning on some of the accounts where I currently have cash balances. That last one, 0.9%--it takes a fairly large balance to earn t...