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Thursday, August 23, 2012

House #10 Before Pictures

Here is what House #10 currently looks like. We have already started work trying to change that. I think overall the house is in good shape. It has a water problem in the basement which is pretty common here in Georgia for a close to 30 year old house. 

What I really like about the house is the location and the neighborhood. The neighbors houses are very well maintained and this one stood out like a sore thumb but we will take care of that...

I really like the brick front. We will be painting the windows and getting
rid of all the overgrown vegetation. The exterior does not require
too much work other than some siding and trim repairs all around.

Tuesday, August 14, 2012

6 Reasons Why Starting A Side Business Can Change Your Life

Starting a side business is one of the smartest things I have done in my life. I call myself an entrepreneur but I still chuckle when I say that because that is not something I could have imagined calling myself 5 years ago.

Starting a side business
Once I left the military I joined Corporate America only to face its harsh reality and find myself laid off soon after. With no clue where my next check was going to come from and lining up at job fairs with 5,000 others looking for the same thing I realized I had to do something different.

That experience was all I needed to figure out that I could not rely a 100% on a J-O-B for my financial well being. It was at that time that I started my full-fledged real estate business and this website.

Monday, August 6, 2012

House #9 "After" Pictures

The rehab on House #9 is complete and since my last update it is under contract and we expect to have it sold by the end of August (knock on wood). As you will see from the pictures we did not leave anything untouched with this house and pretty much either replaced or upgraded everything. 

Take a look at all the before pictures so you can see the dramatic difference. 

New roof, new paint, new garage door, all new windows and
fresh landscaping.

Friday, August 3, 2012

Flipping Houses and The FHA 90 Day Rule

I had mentioned last week that as soon as we put House #9 on the market we got two offers on it. So we quickly went under contract with that house unfortunately that was short lived. You see, since I have owned this house for less than 90 days and the buyer wants to use an FHA loan to purchase it, things get a bit more complicated with the loan approval…

HUD has this “90 day rule” where properties that have been owned less than 90 days AND are being sold for more than 20% of the price they were last purchased for have to “jump through more hoops” to qualify for a loan. I already knew about this limitation but many times the buyer, their agent and their lender do not know about this rule.