Welcome

Welcome! You are reading the blog for Wealth-Steps.com. If this is your first visit make sure you start at our homepage and check out the many articles we have on real estate investing, building wealth, getting out of debt and personal financial planning.

Wednesday, September 26, 2012

Flipping House #10: The "After" Pictures

Our house flipping project #10 is fully rehabbed and on the market!!

I will tell you that I think I set a new record with this one in terms of how easy and smooth it all went. I believe we got this one done right at three weeks. I have to credit the general contractor I used for doing outstanding work ( and me for hiring him ;-) ). Not only was the work done very well but my "management" (aka control) was seldom needed.

This made for an awesome finished product and a bit more sleep for me at night. I am so proud how this house turned out. You can look at the before pictures to see the dramatic difference.

Allow me to walk you through the improvements...

Before

Cleared out a lot of brush. Fresh paint on shutters, windows
and trim. Trimmed bushes up front and fresh pinestraw all around.

Thursday, September 20, 2012

House Flip #9: Final Financial Analysis

House #9, our latest house flip project is now sold! 

Although there is no such thing as an easy house flipping project (those only happen on TV) this one made me loose quite a bit of sleep. Between the disagreements with the contractors that worked on the job and the running around to get the work done on nights and weekends while still keeping my daytime job, this flip was a challenge.

However as you will see, I think it paid off:  

Thursday, September 13, 2012

Real Estate Investing Blogs You Should Read

I am a believer in learning from others that are doing what I want to do. Fortunately there are a few investors out there that chronicle their real estate investing adventures on the net. I have learned a great deal from many of these real estate investing blogs and I have even got to know some of these bloggers personally. 

When I was starting out one of the frustrating things for me was learning about real estate investing from some speaker that was trying to sell me a course or “seminar”. Although those courses could teach me something, some of these blogs have taught me more…for free.

By following these blogs I have seen how deals get put together from beginning to end. This is very helpful in allowing you to see how you can do it too. That is one of the reasons I was inspired to start my own site and blog.

Here are some of the real estate investing blogs I read and that I recommend you do too. One of the neat things about these is that you will see different styles, business models, markets, and techniques to invest in real estate:


Thursday, September 6, 2012

Selling House #9 - Dealing With Inspection and Appraisals

It has been a while since I have posted on the status of House #9. The house is under contract and we are very close to selling it but we have had delays due to problems with the appraisal.  

In the last update I posted for this house I had mentioned that due to the buyer using an FHA loan and I having owned the house for less than 90 days, two appraisal would be required. I knew that was coming. 

First off, the buyer did his inspection and no major items came out of it. That always makes me happy because it means we did a good job with repairs during the rehab period. The only repairs the buyer requested were minor: adjust the patio door, fix a leaking (loose) shower head, fix the latch for the attic door, add smoke detectors and minor adjustments elsewhere.