Strategic Real Estate Coach
6 Parts to Rehabbing Successfully
Thursday, August 25th, 2011 | Foreclosures, Real Estate Investing | No Comments
Rehabbing is a great way to get started in real estate investing. Doing it properly will help you avoid becoming overwhelmed – and keep your budget intact. Here are six basic parts of the process that are consistent among successful real estate rehabbers:
Part 1: Before Work Begins
• Rekey or change out all locks (make extra key copies) and place a lock box on the front door. If the property is in a depressed area, board up the windows.
• Put all utilities in your (or your company’s) name and schedule them to be turned on the day you close.
• Getting the permits out of the way will free you up and help you avoid potential problems.
• Some work can begin pre-closing. Foundation repair, if necessary, is critical before doing any other work.
• If the property needs pest control services, have them come by before you start work.
• Have a plumber and electrician go through the property to completely shut things off before you begin related work.
• If the seller allows it, start tearing down cabinets, etc. Get a cleanup crew to pick up the debris. Sanitize the house.
Part 2: Roughing Out
• Replace plumbing under the house or route additional plumbing if necessary.
• Remove rotted framing and subfloor. If damage is structural, get the right permits and people to repair it.
• Replace damaged exterior doors, ensuring that they are to code.
• On a standard rehab, replace only those windows that need it.
• Prepare the exterior for painting or replace with siding. Replace and paint exterior trim, including soffits and fascia.
• Curled, warped or faded roof shingles signals a replacement job. Get a good roofer for extensive repairs. Replacing a few shingles, flashing or vents can be done inexpensively.
Part 3: Mechanical Systems
• Hire a chimney sweep to inspect and clean the fireplace.
• Have a specialist inspect and clean out the heating, ventilation and air-conditioning (HVAC) system.
• Have new plumbing and electrical installed to code. Be sure you have all permits and get the work inspected before moving on.
• After inspection, install insulation in exterior walls.
• Repair or replace driveway, patio and walkways.
• If the septic system needs repair, be sure it’s reported in the purchase contract and negotiate who is responsible for the cost.
Part 4: Unfinished Surfaces
• Replace or repair drywall in walls and ceilings.
• Replace the garage door if necessary.
• Examine and replace gutters and downspouts.
• Install wood floors, if worthwhile.
• Replace or reface cabinetry.
• Repair or replace interior doors.
Part 5: Finished Surfaces
• Paint the interior and exterior.
• Replace countertops with your chosen material.
• Replace flooring with your chosen material.
• Ensure that all plumbing is installed properly and leaks are eliminated.
• Install cover plates, jacks, lights, smoke detectors, etc.
• Install new thermostat and vents.
• Finish or refinish wood floors last, to minimize damage from traffic.
Part 6: Final Details
• Little additions, like doorknobs, hardware, house numbers, towel bars, etc. can add to the appeal – and the budget. Take care not to overdo it.
• Install appliances. It’s often cost-effective to work through one supplier.
• Install carpet, if any. Neutral colors are best.
• Have landscaping done after the major work is complete to prevent damage to the lawn.
• Perform final cleaning.
• If desired, a local designer is inexpensive and can help stage the property for extra appeal.
• Do a final walkthrough to ensure nothing is overlooked.
Many people get their start in real estate investing by buying a house wholesale or in foreclosure and rehabbing it. Following these key parts will help keep your enthusiasm up (and your budget down).
To learn how you can start your real estate investing business, click here.
Share this post with your friends on Facebook, Twitter and more! Be sure to rate, review and share this post with your friends on StumbleUpon!
Note Buying Mastery
Friday, June 24th, 2011 | Bank owned, Foreclosures, Real Estate Investing, Uncategorized | No Comments
Hey, Josh Here,
Did you miss my friend Chris Gleize’s “Be the Bank” webinar last night? If you did, you’re in luck, because you can check it out here… it’s really some awesome stuff, so sit back, grab a pen and get ready to take on a new opportunity in real estate investing! You can also learn more at www.noteswithjosh.com.
Learn More at www.noteswithjosh.com
Investors Rule the West Coast
Wednesday, June 15th, 2011 | Bank owned, Foreclosures, Real Estate Investing, Real estate short sales | No Comments
If you’re a real estate investor on the West coast, you’re sitting in a great position these days. Why? Because according to ForeclosureRadar, “third-party investors are reselling foreclosure properties they’ve scooped up at auction at a rapid pace in states along the country’s western seaboard,” including California, Arizona, Nevada, Washington, and Oregon. Here’s the best part – investors are moving distressed homes faster than banks are.
ForeclosureRadar tracks foreclosures and auction activity in the states listed above, and has seen one consistent statistic in all those states in May – a decrease in the amount of time investor’s need to sell properties purchased at foreclosure auctions. For example, in Arizona, investors were able to sell properties in 95 days, versus 150 days for banks. In California, it took just 134 days, versus 227 for banks. Similar numbers were seen in Nevada, Washington and Oregon.
The reason for this gap is that investors have “become better at turning a foreclosure into a marketable property that attracts buyer interest,” according to the CEO of ForeclosureRadar.
To read more, click here.
To learn more about kicking your real estate investing into high gear, it’s easy to get started – just click on the “Click here to gain access” button in the box to the right – “Join Josh on the 4 Strategies That Create An Instant Cash Infusion Online Event.”
IMPORTANT: Investors Coalition Election Analysis and Legislative Briefing
Wednesday, November 3rd, 2010 | Foreclosures, Pre-foreclosure, Real Estate Investing, Real estate short sales, Short Sales, Wholesale properties | No Comments
Good Morning, A couple of months ago we shared some very important information with you about GSE Reform and the potential impact on all real estate investors. Jeff Watson let you know that he is working with a lobbyist to get our voice heard in Washington D.C.
Well, our efforts are paying off and now that the elections are over, change is imminent. In fact, they already have a meeting scheduled for Nov. 9th at 2:00 p.m. with the Congressional staff that are drafting the Fannie/Freddie reform bill. At this meeting they will present the white paper they created. Jeff is hosting a follow-up webinar with his direct contact in Washington D.C. to share the latest progress with you.
Drop whatever you’re doing and mark your calendars for a super important webinar tomorrow night, Nov. 4th, 2010 at 8pm Eastern.
Click here to reserve your spot.
Jeff is going to share the latest information and analysis on the recent 2010 election AND a briefing on the latest lobbying efforts of the Investors Coalition. This is information critical to your business that you cannot get anywhere else.
Topics will include:
• Impact of 2010 Elections on Real Estate Investors
• Update on Short Sale Flipping Issues at Freddie Mac
• Update on GSE Reform, SAFE Act, and Lender Issues
• Discussion of NEW Investor Coalition White Paper – Our Briefing Presented to Congress Proposing Various Legislative and Regulatory Changes to Make It Easier to Buy and Sell Homes
• How You Can Support This Effort
Spaces will fill up very quickly, so make sure you register for the webinar now!
See you on the webinar,
Josh Cantwell and Jeff Watson
P.S. A special thank you to everyone who supported the GSE Reform efforts through their very generous donations, shown below. Your efforts ARE making a difference, and the voice of real estate investors will be heard!
Moe - Lomita, California
Francine - Bowie, Maryland
Miles - West Hills, California
Godric - South Richmond Hill, New York
Bob - Fort Lauderdale, Florida
Raymond - Mitchellville, Maryland
Roger - Castle Rock, Colorado
David - Charleston, South Carolina
Yvonne - Rockwall, Texas
Sharon - Columbiana, Alabama
Larry - Cape Girardeau, Missouri
Chelle - Phoenix, Arizona
Samuel - National City, California
Doug - Plantation, Florida
Lawrence - Fairfax, Virginia
Bruce - St George, Utah
Paula - Edmonds, Washington
Keenan - Orlando, Florida
Hilda - Long Beach, California
Tim - Ft. Lauderdale, Florida
Steve - Lawrenceville, Georgia
Ron - Louisville, Kentucky
Timothy - Naples, Florida
John - McAllen, Texas
Mark - Naples, Florida
Pamela - Roscoe, Illinois
Maria - Tucson, Arizona
Susan - Los Angeles, California
Manny - Miami, Florida
Daniel - Charlotte, North Carolina
Shaina - Winter Park, Florida
Julio - Fullerton, California
Carol - Glendale, California
Jeff - Jacksonville, Florida
David - Elmhurst, Illinois
Richard - Livingston, Louisiana
Tony - Festus, Missouri
Fabiano – Austin, Texas
Steven - Columbiaville, Michigan
Darlene - Sterling Hts, Michigan
Michael - Chicago, Illinois
Michael - Uxbridge, Massachusetts
Karen - Lancaster, Massachusetts
This Can Change The Way You Think And Work
Thursday, September 23rd, 2010 | Foreclosures, Real Estate Investing, Real estate short sales, Short Sales | No Comments
I wanted to send you a quick reminder about tonight’s training call.
If you haven’t registered, you’re going to want to do so right now:
On the call I’ll reveal how to become my “Apprentice Partner” in your local area where you help find a deal – using my proven strategies, and my experts do all the heavy lifting to negotiate, fund, close, and sell the deal.
Then we split the upside of the deal 50/50.
I’ll also be sharing my 33 unique ways to find deals, 17 ways to sell the houses you find, and 9 ways profit. This is the very same automated system I use to cash a check from a deal every 4.2 days.
Follow these steps I share tonight and you’ll be on your way to making $5,000 in the next 30 days, and start making as much as $100,000 (or more) a month in real estate without using your money, credit and with no previous experience.
The call starts promptly TONIGHT at 8:30 PM Eastern / 5:30 PM Pacific.
Follow the link below to register:
And you won’t want to miss out on my new “SOS” that accelerates and triples the number of deals you do each month. This is proprietary and patented stuff that you won’t see anywhere else.
See you tonight.
Josh
Are You As Frustrated As I Was?
Wednesday, September 22nd, 2010 | Real Estate Investing, Real estate short sales, Short Sales | No Comments
In 2003 I was broke, burned out, living paycheck to paycheck, and working 60 – 80 hours a week.
Frankly, it wasn’t the life I dreamed of.
Today I make millions of dollars a year in multiple businesses.
It’s not because I’m any smarter than the next guy, any better looking, have the right connections, or am gifted in any way what-so-ever…
It’s simply because over the last few short years I’ve perfected a system for buying and selling real estate without personal risk or previous experience that works for anybody, time and time again.
Yesterday I sent you an invitation to a special webinar I’m holding tomorrow night. If you haven’t registered yet, I highly recommend you do so right now:
Register for the call now at www.webinarswithsrec.com.
******************************************************************************
Tomorrow night at 8:30 PM eastern / 5:30 PM Pacific I’ll share with you my proven automated system, explain why it’ll work for you regardless of where you live, and I’ll back it up with PROOF you can see with your own eyes.
Register for the call now at www.webinarswithsrec.com.
******************************************************************************
Today I live an amazing lifestyle with my wife and kids, and it’s all thanks to what real estate has done for me.
I don’t say this to brag or try to impress you.
In fact, it’s quite the opposite… I want to impress upon you that this system works, and can work for you no matter what your current situation is right now.
I have a few very specific and important things I plan on sharing with you tomorrow night.
Here they are:
- How you can make $5,000 in the next 30 days, and start making up to $100,000 or more per month in real estate without using your own money, credit and with no previous experience.
- How I went from broke financial planner working 60 – 80 hours a week living paycheck to paycheck to financial independent in just two years time… and how you can follow my proven system to shortcut the process.
- Show you my S.O.S – Secret Operating System – what will accelerate your path to profits and triple the number of deals you do.
- Give you 33 unique ways to find deals, 17 ways to sell the houses you find and 9 ways profit. This is the very same automated system I use to cash a check from a deal every 4.2 days.
- How to gain access to over $1 MLLION dollars to fund your deals.
- Reveal to you specific strategies that will automatically overcome the 7 reasons why investors fail.
- An easy way to tap into a nationwide database of cash buyers who have purchased properties cash in the past 30 days, who are hungry for your properties.
- Show you the techniques, systems, secrets, software and company I built to automatically close real estate transactions for me and my partners all over the US.
- Share with you the opportunity to become my “Apprentice Partner” in your local area where you help find deals – using my proven strategies, and my experts do all the heavy lifting to negotiate, fund, close, and sell the deal. (Then we split the profits 50/50… sound fair?)
If you…
…are not happy with your current financial situation…
…want a way to free yourself from your dreaded JOB…
…dream of retiring early and retiring rich….
…want more quality time with loved ones…
…finally want to take control of your own financial future…
…Then I invite you to join me on tomorrow night’s call.
Lines are limited, register now at www.webinarswithsrec.com.
Talk soon,
Josh
P.S. Tomorrow night I will show you proof my system will work for you, once you apply what I share with you. In fact, I’ll show you at least 76 recent profitable deals and introduce you to 19 students who’ve recently made a total $1.65 million.
Check Out This Contest Video Submission!
Thursday, June 17th, 2010 | Foreclosures, Pre-foreclosure, Real estate short sales, Short Sales | No Comments
This great video is Mike “Stubby” Kleinstub’s submission to Strategic Real Estate Coach’s Building Lifestyle and Design contest. Mike did a great job of describing his life before and after SREC and where he plans on taking his business in the future. If he wins the contest he will win his very one 2011 Harley Davidson.
The BLD contest is all about building a business that give you the lifestyle that you desire. The Short Sale Business is booming as the economy gets weaker. In fact this fall with all of the Option ARM, ALT-A, and Commercial resets coming due, we feel that we are in the eye of the hurricane right now. We haven’t even begun to clean up the Sub-Prime mess.
The best thing about the Short Sale Business for investors is that it is just difficult enough to keep the average investor out of it. This means a growing market of foreclosed properties + few investors to take advantage of the market = HUGE MONEY!
Enjoy the video and a quick reminder that all videos must be in by no later than July 1st!
-Chris Duane Director of Operations SREC
Fannie Mae Promotes Short Sales?
Friday, January 16th, 2009 | Uncategorized | 1 Comment
During the past month, we’ve heard of several ideas and seen several attempts to give some relief to distressed homeowners facing foreclosure. Here are a few: interest rates have been lowered, loan modifications are being proposed, foreclosure moratoriums have been suggested as has the use of bankruptcy courts to restructure loans.
The whole thing gives and appearance of a “back-lash” on my old bait casting fishing pole. A bait caster is really just a rod and a spool of fishing line (think of a spool of thread). I love using it because I can cast a heavy lure a long way out, but if I use too much muscle and get too ambitious, the force causes the spool to rotate faster than it can let out line . . . and I get a huge mess . . . one big knot that takes a long time to undo…
Check out this rest of this article by clicking here
The rest of the article even includes the new email address to use to submit your packages to Countrywide.
Talk to you Soon!
- Josh Cantwell
Fannie and Freddie – What are we in for?
Friday, September 12th, 2008 | Uncategorized | 1 Comment
By: Josh Cantwell
I probably shouldn’t be suprised by the recent chain of events regarding Fannie Mae and Freddie Mac, but still, I am.
With the deterioration of the housing market, our huge national debt, and Fannie Mae and Freddie Mac’s 5 trillion dollar debt, I think that this is something that we really need to stay on top of and be aware of.
I just wrote a new article about what’s going on with Fannie and Freddie and the extreme measures that are being taken to keep our financial system from collapsing.
Click Here for Fannie Mae Freddie Mac Article
You’ve got to check this article out, it’s super important, not only as a U.S. citizen but also as a real estate investor, to know what’s going on with our economy.
Click Here for Fannie Mae Freddie Mac Article
The right steps have been taken, but we’ve definitely got some work to do.
The Launch is officially closed…
Thursday, September 4th, 2008 | Short Sales | No Comments
By: Josh Cantwell
We have officially closed the Short Sale Success Blueprint Launch after an overwhelming response!
We had over 1,000 orders in the first 90 minutes, which was super exciting!
We have over 2,300 new customers to support, and have over 1,500 people on the waiting list just in case we launch the Blueprint again in the future.
If you’re not on the waiting list, but would like to be, you can click below to be notified if the Blueprint is launched again or sold at a discount…
Short Sale Success Blueprint Waiting List
If you got in on this awesome deal and ordered the Blueprint, you should be expecting your first package soon. You should also be on the lookout for your username and password for the Short Sale Success University.
I can’t wait to get started!!!
Just enter your first name and email in the
box below for free immediate access!
Recent Posts
Categories
