Andy Heller Workshop

Spent Saturday in San Francisco at Andy Heller's workshop. Andy is the author of "Buy Low, Rent Smart, Sell High" among other publications.

Andy specializes in Rent to Own, or Lease Options, which is my chosen exit strategy also.

Great workshop, lots of good info. Highly recommend his material for anyone wanting to pursue rent to own business.

Andy's website is www.regularriches.com

My Day Today

Just thought I would expand on my day today as it was quite busy.

Was in Vacaville at 8am this morning to get a roofing crew started, only to discover the former homeowner had not completed her move out having been given an extra week.

Ended up taking her to Uhaul (for the second time) to get the rest of her stuff loaded and moved out - in addition to paying $1000 of her security deposit on her new place.

However, still cheaper than her original plan of sledge hammering the house before leaving!

Then onto house in Suisun City at 10am to meet haul out crew to do a clean out on a house that tenant left a bunch of stuff behind - including their cat and 2 kittens who were starving - of course I went to the store, bought cat food and fed them. Going back tomorrow to pick up and take to humane society.

Same house had carpet cleaners at 12.30 and janitorial crew at 4pm. All ready for new tenant to begin moving in tomorrow morning (I will be there to meet her for inspection at 8am tomorrow before proceeding onward to inspect roof progress in Vacaville).

At 2pm, spend 2 hours looking at some new prospective properties, some for Joint Venture deals and some for just finders fee. Then went by to check on rehab here in American Canyon - looks great - will be posting more pics tomorrow.

Made offer on one tonight on one of the properties from today.

Alot of other admin type tasks - printing out agreements, emails, faxing docs etc.

Just finishing up now - as I said, long day today!!

Rehab Update

Here are some pictures from last Saturday where house was painted on outside and prepped on inside. Alot of other detail items done also.

Rehab Day 2 - July 09

On Saturday, new windows and doors were installed. Walls were being skimmed, some more demo work etc.

From Purchase to Flip Day One

This is a 3/2 property that was purchased from the MLS at a price of $89,000. Property is a 3 bed 2 bath 1400 sq ft Single Family Residence.

Closed on property on Wednesday, started the demo on Thursday, and above are some pictures of the property today. We are currently expected to spend $22,000 on the rehab which includes new kitchen, new furnace, some new windows, carpet, paint etc.

Current comparable sales are in the $150-$165k range.

Updates

It has been a while since I posted anything, so this is just a synopsis of what has been happening since the last posting.

There has been an ongoing shortage of inventory, so have been looking at alot of properties, making offers (cash) and getting outbid alot of the time.

On the management of existing rentals and rent to own properties, we have had some hard times with a few tenants getting either laid off or hours cut, so have been working out temporary payment plans or move outs (3 over last 2 months).

The rental market is a little soft right now - lots of properties being advertised for rent for longer than average time frames compared to a few months ago.

At this moment, we have 3 partnership deals going which we plan on flipping. We have chosen one of these to do a daily diary on from demo to finished product, through to sale.

Hope it is educational.