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Friday, July 27, 2012

House #9: Done, On the Market and...Under Contract!

This post was supposed to be to let you know that we were done with all the work on House #9 and the house was on the market. I was just not expecting to also be announcing that the house is under contract!

That's right, within 24 hours of listing we had two offers. But first let me  backup a bit and go over what it took to get this house on the market... 

Saturday, July 21, 2012

Is it All Worth It? Finding the Motivation to Push Through

There is a lot going on for me right now and it's been more challenging than usual trying to juggle all my responsibilities. It is at times like this where my motivation wanes and I stop and question if what I am doing is worth it.

I have been finishing the rehab for House #9 (and the difficulties that came with it) and getting that house ready to go on the market. I have also managed to find and purchase House #10 and to top it all off we are in negotiations for what could soon be House #11. 

I can only do this part time because my day job comes first during normal business hours. So really my wife handles a lot of this and I help her with what she can't. But that still leaves plenty of work for me on nights and weekends. She is truly a champ because after all her first responsibility is to be the great mom that she is to our children. So being able to handle both as well as she does is admirable. 

Monday, July 16, 2012

Wealth vs. Financial Independence (part 3)

In this three part series I have been discussing the factors that you need to consider when trying to figure out what financial independence is for you. In the first part I asked you to figure out how much income you need to live the life you want. In the second part you needed to choose what strategy is going to help you get there. 

In this part I am going to ask that you figure out what is your number...what net worth you need to achieve to reach financial independence...

Wednesday, July 11, 2012

House #9: Flipping Houses and Dealing With Contractors

The rehab on House #9 is coming along slowly but surely. Unfortunately the emphasis on that is on S-L-O-W-L-Y. There really hasn’t been any major problems to cause a delay…no repair surprises, materials delay, bad weather, budget problems…none of that. It just turns out to be one of those contractor-just-does-not-show-up-to-work cases!

This is unfortunate and a bit embarrassing to report here because you would think that by this point I should know better. No, they haven’t been perfect in the past and I don’t expect them to be but without a doubt they have dropped the ball on this one. What’s more troubling is their continued lack of regard for our contractually agreed upon schedule.

Thursday, July 5, 2012

Tools for the Cash Strapped Entrepreneur (part 2)

Evernote for the Real Estate Investor

In the first part of this article I talked about using the awesome Sugarsync to store and synchronize your files between all your computers and mobile devices. The other tool I use that is incredibly useful and powerful is Evernote.

Sugarsync is great for files but Evernote is amazing for all kinds of information storage not just files. If you don’t know about it yet Evernote is an application that allows you to create, store, share and organize notes.

So what's so great about that?…you might ask.

What makes Evernote so fantastic IMO is that it lets you store any kind of note. It could be a text note, a voice note that you record on your mobile device, a picture of anything that you take along with notes, a sketch drawn with their sketch utility and more.

Monday, July 2, 2012

The Difference Between Wealth and Financial Independence (Part 2)

In the first part of this article I wanted you to think of how much money you need to live the life you want. So you should have by now an idea of the lifestyle that you want and the money you need to achieve that lifestyle without having to go to work every day for it. 

You are now creating a vision...and end goal...a picture of how you want your life to be. Next step then is to set the wheels in motion now.