How to Fund Your Rehab

Rehab Tools

It takes money to make money, right? Yes and no. So, I’ve proven that seller financing is out there. You can truly buy a home with no money out of pocket. After that, what do you do about repairs? We are way to new to real estate game for our private lender to trust us with any more than we needed. I’m still baffled that we were able to convince her at all! So, we had to get creative in financing the rehab. Of course,…

Newbie Fails

Head in Hands

Remember how I spoke about feeling like a newbie?  Well, it didn’t end there. In fact, I’m constantly reminding myself that I’m an amateur. In an effort to encourage those of us who are completely green to real estate investing, I’ve shared a few of my most humbling mistakes below. Hopefully, you will be able to avoid some of these same pitfalls. Please share some of your novice blunders too!   I learned pretty early that easy work can be made hard if you don’t…

How Nextdoor.com Can Benefit You

nextdoordotcom

I’m a millennial. Naturally, I’m registered on at least 6 different social media sites—all for different reasons. Each social media site provides a unique platform. Facebook keeps me connected to family and friends. LinkedIn provides me with professional visibility, and Pinterest keeps track of products that appeal to me. So, which social media platform is best suited for the real estate investor? Nextdoor.com Nextdoor is a social media site that connects people within specific neighborhoods. In order to register on Nextdoor, you have to first…

Getting a 203K Loan? Expect Trouble!

FederalHousingAdmin

Yeah, I said it. The 203k loan is troublesome. But now that I’ve gotten that out of the way, you should know that the FHA 203k brought my real estate investing aspirations into reality. There is a plethora of information out there regarding FHA’s 203k loan. You can see details of the loan here: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kabou. Basically, the 203k allows you to finance a property as an owner occupant with a 3.5% down payment. So why is this so special? The 203k allows the homeowner to finance…

The Biggest Obstacle to New Investors – It’s Not What You Think

THe Biggest Obstacle

I spent 2 years researching real estate and speaking with investors before I jumped in. I saved vigorously because I was convinced that capital would be the biggest challenge to my real estate goals. While capital is still a challenge, I’m not sure that I would call it my biggest challenge. The biggest challenge to part-time investing is working full-time. Luckily, I have a job that gives me almost constant access to the internet—not to mention an incredibly flexible schedule. However, those perks come with…

Jenna’s Real Estate Resolutions for 2014

Happy New Year!

If you’ve ever read anything on building businesses or obtaining personal success, you know that statistics show that you are more likely to achieve a goal if it is specific, measurable and written down somewhere. With that in mind, here are my 2014 Real Estate Resolutions, all of which should be accomplished no later than December 31, 2014. Some are simple; some are not—but they are all important to my success as an investor. Buy a ladder and a water key. Purchase another multifamily property….

Tips for DIY Painting

Painting Tips

If you are new to real estate investing, I’m guessing you will be doing some work yourself. That’s great! This has truly been the biggest learning curve of my life. We have been rehabbing our triplex for 5 months now, and I can say with certainty that I’ve found the task that I would like to hire out, as soon as possible—painting. Painting is the worst. It is repetitive on your wrist and wearing on your back. You have to tape and lay down drop…

Real Estate Advice for Rookies

Getting the Apartment Ready

This past week made me reconsider if I should be blogging about real estate. Aside from books, blogs, and conversations with investors, I don’t know much about what I’m doing. I’m great with numbers. I can analyze, budget and prioritize like a pro. Despite my strengths, I have underestimated the time commitment every single time. If you are getting into real estate because you think that it’s easy, please turn back now. This post is for the rookies. I set a goal to have the…

Breaking Rule #1 – Update

Facepalm

Remember how positive I was about our experience with renting to a friend? Well, the old proverb proved to be true after all. Our tenant friend told us last week that he will need to move out before his lease is up. He’s in nursing school and would like to devote more time to study and less time to work. We shouldn’t worry; he will do us a favor by staying until January 1st. Grrrr. Thanks—but no thanks. So, let me recap for you. We…

Looking At Properties? Take These Tools

Tools of the Trade

You’ve read the books. You’ve found the blogs You’ve networked with investors. You’re ready to jump in! There are a few things that you absolutely have to have before purchasing an investment property. These tools will be a resource to you as you analyze potential deals. Keep them in your car because you never know which corner opportunity happens to be hiding behind. Camera (or phone with a camera and flash). As you look through properties, keep them organized by first taking a picture of…

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