Open House

Had open house today on rehab in Vallejo - the green and white one I posted one picture of about 6 weeks ago. Hard to believe it is the same house.

Here I am holding the cabinet in place a few days before completion!!

Purchased for $70k, spent $40k in rehab and listed it for $185k

Two offers in already, one for list and one for $6k above list. Expected at least 5 more offers based on open house today.

Closed on next reahab on Friday, so getting ready to start rehab on Tuesday. Also had offer accepted on 3/2 in Sacramento, so heading up there tomorrow with lead contractor to sharpen our pencil on rehab numbers.

Wrote about 10 offers this week and 4 more in the works after looking at 7 properties this afternoon following open house.

Whew - looking forward to my 10 day trip to Ireland on 17th!!

Noteworthy Convention 2009

Just got back from the annual Noteworthy Convention. Wanted to educate myself further on note manufacturing, buying and selling paper etc.

Met some great people and learned alot. Noteworthy have a newsletter for anyone who is interested in staying up on what is happening in the business - www.noteworthyusa.com

I am sure everyone agrees that the lack of conventional financing to well qualified buyers is going to dramatically increase the need for private financing.

On the rehabbing side, just about finishing up with one house and have 2 more in escrow to close, rehab and sell.

Also have 2 long term buy and holds that I have private financing on giving the holder an 8.5% return on their money passively, secured by a First Note and Deed of Trust.

To receive updates automatically on what we are doing, please register at www.reiinformation.com