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house_hustle

🥳Under contract!! Stats are showing that home b

🥳Under contract!! Stats are showing that home buyers are dropping out of contracts due to affordability, uncertainty of the economy and recession fears being high 😬

Warren Buffet once said: "Be fearful when others are greedy and be greedy when others are fearful."

In this case: We locked in the house with an offer already on the table...but the buyer got cold feet from the current economy and where it may be headed.

As an investor - I'm thinking long term and not short term gains or loss. This is an amazing property in a very desirable area with a great school district. It's just another quality asset to add to my portfolio.

💰💵Snagged this one with a lower than asking cash offer - and that sealed the deal 🙌

Asking: $299K (4bed/2bath ~2K sqft) - wish I can get something like this in CA!!
Accepted: $292K

I still think it's a good time to buy. Find a great asset, that will give you great tenants - hold onto it and continue to build your wealth!

How's the real estate market in your area? Still buying? 🤔

Love how my brother's so-cal rehab is coming along

Love how my brother's so-cal rehab is coming along! 😍

(Budget rehab because you blew all your money on the house 😅)
🛠 Floors + cabinets + recess lights ~ $6K

Credit to my brother who did most of the work himself!!
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#kitchenremodel #budgetremodel #rehab #kitchencabinets #vinylfloors #halenavy #farmhousekitchen #kitchendesign

This sums up pretty much what's going on in the cr

This sums up pretty much what's going on in the crazy California real estate market 🙃
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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #firejourney

Just got news that we got an approved applicant wi

Just got news that we got an approved applicant with a signed 1 year lease! This year has been super hot in the rental market - we had the listing up as "coming soon" and had over 200 inquiries in less than 1 week, and immediately when rehab completed...lease signed and tenant moved in the next day 🏡
(We had to increase the advertised rent due to the high demand)

🏚Purchased: 12/07/2021
🛠Rehab completed: 12/29/2021
📝Signed lease: 12/29/2021

"Coming soon" seems to be working pretty well. This is the second time I utilized this method. The last one we had prospective tenants view the property before the current tenant left (with permission from the tenant)....and had a signed lease with a higher rent rate, before the current tenant even moved out.

Anyone market their rentals as "coming soon"?
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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #firejourney

🏠Closed! Purchase price: $110K Rehab: $8K Al

🏠Closed!
Purchase price: $110K
Rehab: $8K
All in: $120K 💰
ARV: $150-160K
Rent: $1400/month
Depending on the appraisal, may leave some $ in the deal, but this deal is just too easy to pass up.

Going to miss daily gif exchanges with my realtor, she cracks me up 🤣

#BRRRR
#realestateinvestor
#outofstateinvestor
#cashflow

This is one of my most memorable kitchen rehabs, b

This is one of my most memorable kitchen rehabs, because of all the trials and tribulations it took to get here. After this kitchen disaster, I decided to forgo using a contractor for the work and just hire my own crew. This contractor subbed out the work to another contractor who subbed out the work to his people.
End result: 💩

My contractor was pissed off that his subs didn't follow his direction and completely used the wrong material (well it was kinda his fault that he wasn't overseeing them right?)

1️⃣ Wrong backsplash tile was used - when confronted with the mishap, the workers instead of ripping out the wrong tile, added the right tile adjacent to it, who the heck does that? See last pic 🤯🤯
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2️⃣ During the entire rehab of the kitchen not one person pointed out that the cabinets were completed coated on the inside by coachroach poop - the handles, hinges were all coated with poop. I only found out when my cleaners told me.
That's when finally we decided to rip out the entire kitchen cabinet and replace with new one. Also adding to the delay in the project.
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My contractor had his guys go back and redo all my backsplash, and I hired out another crew to install the new kitchen cabinets.
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Make sure you check on your contractors and they aren't subbing out their work to other contractors. Work quality just goes to sh*t from there.
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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #firejourney

And...another one under contract! Isn't she a beau

And...another one under contract! Isn't she a beauty? 😍

💰Asking: $110K
💸Offer: $110K cash, (all with the money that was cashed out from the last deal)....can you say rinse and repeat? #BrrrRepeat
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This one is set to close in 1.5 weeks and the other set to close in 3 weeks. Stay tuned for some inspection / rehab updates for both🏡🧐🔎
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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #firejourney

💰💰 Just closed on a cash out refinance on th

Sooo excited to get this one under contract!!!! Th

Sooo excited to get this one under contract!!!! This is my most expensive investment property so far at $280,000, but it's totally worth it! 🏠🏠
✅ Top schools
✅ Great A class tenants

Hoping for a smooth inspection and closing and plan to hold this one for a long while!
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This market is super hot and all listings go pending within one day! We snagged it by: offering all cash, above asking (by $5000) and as is. We definitely didn't waive inspection!
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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth

Fall is here and winter ❄️ is just around the

Fall is here and winter ❄️ is just around the corner!! Just a friendly reminder to send a quick note to your tenants (or have your PMs do it) - remind them to perform some quick and easy winter ready maintenance check lists - and have them report back to you as well. (All these items are tenants responsibilty based on our lease terms)

Here are the things I focus on:
✅ change air filters
✅ make sure furnace is working and set at least 65 deg
✅ keep the heat on if they leave town
✅ clean the gutters (p.s. I have gutter guards on all my properties so this is one thing I don't worry about any more)
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What am I missing??

Burst pipes are costly, and thank goodness I have survived 3 winters with no cold weather pipe burst issues in any of my rentals...so remind your tenants to turn up the heat!!
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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth

Happy Sunday!! ☀️Finally got some time to shar

Happy Sunday!! ☀️Finally got some time to share the most recent rehab of our out of state #brrrrr! This one was the ONLY rehab that we went UNDER budget - which made this deal even better than we anticipated! Swipe for the before & after ➡️

For all my rehabs, I like to replace all majar mechanicals (unless they have at least 10 yeare left or life) --> keeping low maintenance cost thruout the years
*the saving grace for this rehab was that the roof was just 3 years old, the carpets and paint were recently updated….and the BIG chunk of the repair, which was replacing the broken sewer line came way under budget!

Tip: use this rehab guide to help estimate your next upcoming rehab. This one is a 3bed/1bath with 1200sqft living space, in the Midwest.

See below for rehab breakdown:
1) New bathroom vanity and flooring: $1000
2) New vinyl flooring, kitchen base cabinets, countertops, backsplash and sink/faucet etc: $5,000
3) New appliances: $1500
4) New AC condenser and furnace: $5500
5) New Hot water Tank: $1200
6) New Windows: $3000
7) New Gutters and exterior repairs/touch up: $2000
8) New Sewer Line replacement to the main: $2800 (original estimate at $8,000)
9) Inspection costs & reinspection: $850
10) Carpet cleaning/final cleaning & photos: $400
11. Misc: $750

Listed price: $59,900
Purchase price: $45,000 (after some serious negotiation)
Rehab estimate: $30,000
Actual Rehab cost: $24,000
total all in: $69,000 cash
Rented: $995/month
ARV: $90-120K
Now ready for the cash out refi and hoping to get all my $ back 🤑🤞

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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth

When your PM sends you "gifs" that brightens your

When your PM sends you "gifs" that brightens your day 🥳🥳🥳
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This marks one of my best #brrrrr deals - especially with the rent increase!! 🏦
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We had a tenant right at the heart of COVID-19 lockdown that prepaid 1 years worth of rent. Amazing timing especially with the eviction memorandum going on.
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Lease not renewed - so we bumped rent from $975....to $1300 💵
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Took a few weeks to turn it around and now leased for $1350!
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Deets below ⬇️⬇️:
🏚Purchase: ~$49K
🛠Rehab: $20k
💵All in: ~$69K cash
🏦Appraised at $110k, now probably worth $120K+
💵Cash out refi: $69K back in my bank
🏡Rent now: $1350/month
💰Cash flow: $630/month (before reserves)
Cash on cash return: infinite 🚀🚀
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Tip:
Don't be afraid of rent increases during a tenant turn, especially if demand is there! Cash flow and appreciation FTW!
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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth

Another half #BRR in the books! (Still waiting on

Update on our recent Rental we listed for sale: Ju

Update on our recent Rental we listed for sale: Just received the Clear to Close and closing this Thursday!! 🎉🎉🥳🥳
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Appraisal came in at contract price! Buyer's Inspection was spotless🌟However the buyer's financing hit a little bump, pushing the closing date out a few times and had us holding our breath!
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So glad we took advantage of this crazy market to sell our lowest fruit rental 🏡
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #forsale

Taking over #palmsprings with some of my favorite

Taking over #palmsprings with some of my favorite REI ladies ❤️👯‍♀️ @investingforfinancialfreedom @themodel.investor #palmsprings #realestatebossbabes
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#invest #investor #investher #realestate #realestateinvestor #millennials #millionaire #realestateinvesting #reicommunity #cashflow #fixerupper #beforeandafter #investmentproperty #realtor #realestateagent #passiveincome #biggerpockets #brrrrinvesting #brrrrstrategy
#financialfreedom #retireyoung #retireearly #buildingwealth #firemovement #financialindependence #financialindependenceretireearly

We are under contract! We received 3 offers on day

We are under contract! We received 3 offers on day one and a total of 6 offers (all were at least $5k ABOVE asking except 1, who was an investor)
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We had one offer that was almost $20K above asking and will take the property "as is" BUT they are a FHA buyer.
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Instead - We decided to accept the offer from a conventional loan buyer with still a very strong above asking "as is" offer.
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Here's the reasons we decided against the FHA buyer with a high above asking "as is" offer:
1️⃣ FHA inspections are pretty strict. "As is" offer means nothing in FHA lending as you are required to make repairs that FHA flags or the deal will fall through.
-certain things that FHA appraser will flag is peeling paint, broken windows, steps, crack in concrete etc
2️⃣ If the home is appraised for less than the agreed-upon price, the seller must reduce the selling price to match the appraised price, or the deal will fall through. In this case, the buyer offered $20k above asking. If the appraisal comes back at list price...the seller has to come down. (I hear mixed things on this...is this 100% true??) Even if the buyers say they can come up with the difference, usually these buyers don't have much cash on hand anyways - which is why they chose the FHA route....anyways, didn't want to take the risk.
3️⃣ If you get a very low appraisal from the FHA appraisal - it's going to be hard to sell it later. Why? If you do decide to list the home again, the appraisal stays with the property for 120 days. 😣😣
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I feel like I'm missing other things too, but these are the main reasons why I went with the "safer" offer as it has higher chances to close.

What are your thoughts on FHA offers?
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Anyways, hoping for a smooth rest of the sale process!!
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#realestateblog #realestate #passiveincome #cashflow #housetransformation #investor #fixerupper #biggerpockets
#rehab #houserenovations #forsale #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #assetprotection

Wow this market is on 🔥🔥🔥We're in a MULTI

Wow this market is on 🔥🔥🔥We're in a MULTIPLE offer situation!! 🤩🤩
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3 days on the market, 23 showings (4 more scheduled for this morning)! Technically 2 full days, because on the first day of showing (Wednesday)- one of the agent happened to "lose the key" so we had to cancel ALL showings for the rest of the day!! My realtor told me they can be sneaky and hide the key so others can't see it. Some crazy stuff. We had a spare key, so showing resumed all day Thursday and Friday.
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Check out these awesome reviews. Complete opposite of when I tried to sell this house 3 years ago - Everyone thought it was overpriced.
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Tip: if you're on the fence about selling and getting rid of your low hanging fruit rentals...NOW is the time my friend 🤑🤑
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Fingers crossed for some STRONG offers!!! 🤞🤞🤞🤞
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P.S. I love love this showing app - it's called "Showtime" and it sends real time bookings of who is viewing my property as well as showing feedback! It keeps me on the forefront of what's happening with my listing. Love it.
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #forsale

It's been a busy week trying to get this property

It's been a busy week trying to get this property ready for sale....AGAIN!! We just listed this property on Wednesday and multiple showings already! This one is a very interesting investment of ours. Read below for the full story ⬇️⬇️

Bought this property back in 2018 for $70k and put almost $50k into rehabbing it (all in $118k). Wayyyyyy over budget. It was initially suppose to be a rental, but because we spent so much money - we decided to just sell it. Ended up listing it for sale for $143k to just "get rid of it" and make "some profit". Ended up not selling due to a SLOW market (after multiple price reductions).
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We ended up going back to the original plan and renting it out for $1300/month and got it rented within 3 days.
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Cash flow was at about $250/month (after reserves). It was an amazing rental with no maintenance issues.
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The amazing tenant finished his lease and we bumped the rent up to $1425/month - great news right?
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Fast forward to 2019 - property taxes DOUBLED!!😭Bringing my cash flow down to just under $100/month (after reserves) - some month losing money due to small repairs.
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I hired an attorney to appeal the tax hike - and appealed denied twice.
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This next tenant ended up not renewing their lease and we were going to get it re-listed to $1500/month. Which will bring our cash flow to around $100/month (after all reserves).

- yes it's still a cash flowing rental. But the city has been increasing its taxes every dam year 🤬 It's due for another tax hike this year. And the cash flow increase will be a wash.
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We decided it was time to sell, again. This was one of our very first rentals and it's gone thru quite a bit.
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We listed it for $149,900 and hoping that this CRAZY market will get it sold at asking or more.....So we can walk away and get some profit from this. Not a lot. But we've been meaning to sell this one since the taxes have made it an unfavorable rental.
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Sometimes it's good to just let go, especially when the timing is right!!
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‼️Lesson: don't invest in Illinois. The state with the worst property tax rate.

🛠Yesterday was the start of our home remodel! T

🛠Yesterday was the start of our home remodel! The crew came by and moved all the furniture to the PODS and packed up all our belongings for us as well. They spent the entire morning removing the laminate floors and all the baseboards - I'm impressed with how fast they work. Can't wait to get the new LVP floors in!
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Note: We are remodeling our home due a pipe that burst behind the wall, damaging a section of the floor. Since we had laminate floors, the water destroyed it completely.
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We are fortunate to have insurance coverage during this unforeseen event. Insurance will be paying for the entire floor replacement since the floor runs throughout the entire downstairs living space #thanksinsurance 🙏🏻
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#realestateblog #realestate #passiveincome #investforretirement #housetransformation #beforeandafter #fixerupper
#rehab #houserenovations #forrent #rentalproperties #dontbeaslumlord #bathroomremodel #remodel #budgetremodel #rentready #realestateinvesting #realestateinvestor #outofstateinvesting #brrrr #brrrrstrategy #buyandhold #fixerupper #investor #investment #cashflow #financialfreedom #buildwealth #wealth #assetprotection

Haven't had a chance to update on this most recent

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