I made a Ton of Money Flipping House’s – Oh Yeah?

” Gold I tell you there’s Gold in them thar Hills!” Yes there is excitement in the air and much like the days of the Hollywood westerns a call to action. Gold? Well, maybe and maybe not. Certainly there is a profit to be made for the well prepared Real Estate Fixer Buyer. Is this You? Or will you just be one of the countless stories of failure.

Real estate investments in Fixer’s Flips and Rehabs be it Short Sales and or Foreclosures or in the Derelict/Abandoned homes  market can be very lucrative, If you know what you are doing.

It is that IF that separates the Men from the Boys so to speak. Even with the most experienced of us all there are mistakes made and money lost. But there are many things you can do to help eliminate those losses are at least lessen there effects on your bottom line.

Taking a seminar and listening to the rags to riches stories is one of the sure fire ways to quickly lose your shirt. They may be very motivating and fun to listen to but they are no recipe for success. While education is all good and well you can be over educated as well.

One simple plan that can set you on the right path is to look at investing in Real Estate as a Team Sport. Who would you pick to be on your team, assuming that you have done all of the preliminary work such as financing etc.

The Workers :

1. You ( will or can you do the work)
2. Contractor ( Save your self some headache early on a hire a Licensed Contractor for those jobs that you yourself are not capable of doing )
3. Special Contractors ( Roofer, Electrician, Plumber, HVAC, etc.) You do not have to have these people on the pay roll or at your beck and call but you should at least have done the leg work to check out the quality of work they can do and to compare their prices.
4. Real Estate Agent. ( Did you know that a good real estate agent can make you or break you in the Fixer and Flips market?)

Choosing the right Contractors and Real Estate Agent have many parallels. Your entire team should understand your goals. No member of the team including you should put their needs ahead of the others. A good team understands their place and the places of the other members.

So you have assembled your team and you’re ready to go! What then is a 365 Real Estate Investor? Given that there are only 365 days ( more or less ) in a year a budget needs to be set to meet your goals.

• How much money do you want to make per year after all expenses are paid?
• How much profit is there per project?
• How many projects will it take to reach my goal?

Experience is of course the best teacher. Start small and do not get carried away on that first project. Take on one that even if you fail will not take you down don’t let Greed get in front of the learning curve or your common sense. Build upon your successes for they are the foundation for a bright and profitable future in the world of Fixers and Flips.

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” A Real Estate Transaction with Herb is one YOU will Profit from “

Why Buy a Portland Oregon Home Now

As much as we would all love to believe in the ability to read the future I suspect that most of us do not have that uncanny ability. If we did then there would be no point in the lottery. So how is it that we make our present decisions for future purchases. Often times it is based on the Media, friends, family, gut feelings and the almighty did it on a whim.

When it comes to major purchases like automobiles and homes, the process most often takes into consideration ones ability to make the payments. Certainly when it comes to buying a new car the emotion of getting into something new plays a big role. Most of us need transportation but we also would like something for our ego’s. Perception is often reality. What are others perception of you should you be driving that old clunker or the new shiny sports model that is all the rave.

Home purchasing is another matter all together. Media certainly plays a big emotional part as well as the ability to make the payment. Ego as well comes into play as we all would want to show others how successful we are. I own a House vs I Rent. So when is it the right time to buy?

Should you buy in a Buyer’s market ( as many people say it is now ) or in a Seller’s market ( as we clearly have been in over the last several years )? I submit to you that the right time to buy a home is NOW. If you are capable of financing you should be owning. Look at real estate from a historical perspective. Do real estate prices go up and down? Yes they do in some areas of the country. It is often a product of wild price escalations in a short period of time. Something akin to 25% or more increase per year. This kind of price increase has no hope of being sustained.

Price ranges in Portland Oregon have had a steady increase of somewhere between 6 % to 9 %. This has been since statistical information on the Portland Oregon Housing Market has been kept. When looking at a snapshot in time the steady increase of property values in Portland have remained constant. Given the fact that prices continue there slow methodical rise, waiting to purchase a home only erodes your buying power.

A home selling for $200,000 today with a 9% a year increase could be worth $218,000 at the end of the year. Is your income increasing at that rate? If not then you will have to buy a lesser home. A few years ago many 2 bedroom homes in Portland could be purchased for less than $150,000. Try to find a listing for one now.

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