New Rehab Project

Started work on house in Napa today. One of my partners and I closed on it on Friday and started rehab today. Should take about a week - conversion of illegal garage, upgrade wiring, paint/carpet and a few other items.

End buyer in place who will be coming by tomorrow to direct some choices of color etc.

Bruce Norris Event

It's been fairly quiet on real estate front. Making lots of offers and have two more new projects in the works. One in Napa scheduled to close on Friday 18th Sept. and the other the following week.

Both are rehabs and the intention is to rehab and sell them - end buyers lined up on both right now which is great.

Went to Orange County to attend Bruce Norris "I survived Real Estate 2009" Event. Event was also recorded and can be seen on youtube. Great networking and very interesting panel of seven experts in their field. Check it out if you have time.

Rehab Update

So , this property went on MLS last Friday night at $179,900 and we had a full price offer by the following afternoon.

Buyers are moving back to area and have their house in contract for sale. They want to move asap.

Here are the current terms we are looking for - Rent to own for 3 months or less with $40k down and the balance in cash once their other house closes. 3% towards closing if they close in 90 days or less, 1% if they close after 90 days.

We will be posting the final numbers once this deal has closed, but the rough numbers right now are purchase price of $83,000 and Rehab $25,000

Another one in Vacaville just finished and will be on market by tomorrow.

Cash Flow Depot Speakers - Ken Burge

Ken has more energy than an leprauchaun after 10 pints of Guinness!! Seriously, I don't think his brain stops - ever.

Fabulous presentation on amplifying one's presence in the social networking platform (as I am here at 2am tapping away!)

Just for fun, check out the "uberman's sleep schedule" - pretty radical.

Some great hints for outsourcing cheaply (www.odesk.com), free phone and voice mail (google voice), and free software to add visuals to your online conversations (www.jingproject.com)

He has also persuaded me to get an iphone - Thanks Ken as I have not had my blackberry for very long!

Ken is co-author of a book called "Twitter Power" which is available on Amazon.com

His presentation has revolutionized my perception around social media and how to make it work in business.

Check out his website at www.kenburge.com

Cashflow Depot Speakers - Gary Johnston

Gary Johnston is a full time investor from Idaho.

He had a great presentation which included some exercises around defining what success was for each individual, exploring belief patterns, environments etc.

He also had some examples of deals and various ways of structuring them and had us use financial calculators to come up with the differente ROIs etc.

Gary will be doing a 3 day workshop in Santa Clara at the end of this month which I plan on attending. Further info. can be found at www.GaryJohnstonSeminars.com (sign up for his newsletter also!)

Cash Flow Depot Speaker - Jim Ingersoll

Jim and his wife Cheryl live in Richmond, Virginia. Jim started out very aggressively doing wholesale deals and made alot of money very quickly.

He and his wife (and one of his daughters who is just 17) now do a combination of selling and keeping for long term rentals.

Jim describes himself as a wheeler-dealer (much like myself!)

Jim shared some great information on how to find motivated sellers, wholesale buyers and how a wholesale transaction works.

He also shared a couple of recent deals he did which was very helpful for everyone. His website can be found at www.cheaprichmondhomes.com

Cash Flow Depot Speaker - Danny & Ann Williams

Danny & his wife Ann (obviously not in this picture!) live in Fayetteville, GA

Danny used to work full time for Delta before making the transition to real estate full time. While he was working full time builing their RE portfolio, his wife Ann was the main breadwinner until such time as she could quit her job.

Great tips on goal setting, partnering ideas and more from these two. You can see their testimonial on cashflowdepot.com