The Top 10 Mistakes New House Flippers Make

Categories House Flipping

Flipping houses can be a very lucrative business, but it is not easy to get started. House flipping is often glamorized by television and companies trying to sell house flipping training programs. The television and real estate investing gurus make flipping houses look easy when there is so much more involved than what they show you. … Read more

What is Difference Between Being Wealthy and Rich?

Categories Wealth

There are many definitions for being rich and being wealthy. To me, being rich is about how much money you make or appear to make, while being wealthy is about how much money you have. I know people who make $500,000 per year but have little to show for it because they spend it all. … Read more

Should I Buy or Rent a House?

Categories Real Estate
rent or buy a home

There is a growing sentiment that it is better to rent than to buy a home. People argue that owning a house is much more expensive than renting because you have to pay taxes and maintain the house. You also have to spend more money on down payments than you would be if renting a … Read more

How to Find and Buy Deals on the MLS

Categories Buying
houseflip_9 from the MLS

While many people say you can’t do it, it is definitely possible to find a great deal on the MLS (Multiple Listing Service), but it takes patience and work. I sold 26 house flips last year in Colorado, and I bought most of those deals from the MLS. Many markets are seeing rising prices and … Read more

How to Find and Buy Non-Performing Notes

Categories Buying

Buying non-performing loans or notes is a great way to invest in real estate. Non-performing loans are loans that the borrower is behind on or has stopped making payments. In the past, banks would foreclosure on these loans and sell the property attached to the loan, but now banks are selling these notes without foreclosing. Since the notes … Read more

What is the Role of a Property Manager?

Categories Rental Properties
Manage rentals

Rental properties are a great investment, but managing them takes work, especially if you do not use a property manager. I own more than 20 rental properties (commercial and residential), and I managed my rentals until I had 7. My rental properties at the time were single-family properties and relatively easy to manage, but they … Read more

Is it Better to Flip or Buy-and-Hold?

Categories Real Estate

I complete 20 to 30 fix and flips every year, and I also own 20 long-term rental properties. I have certain guidelines I use to determine if I will flip a house, or hold it as a rental property. There are many factors I take into account, but I have much stricter criteria for my … Read more

Is Real Estate a Good Investment?

Categories Real Estate
real estate investment

I believe that real estate is one of the best investments to gain wealth and security. However, many people feel it is risky and does not produce great returns. I think many of those risks are overstated and many of the advantages of real estate are glossed over when people downplay real estate as an … Read more

Where to Find Investment Properties

Categories Buying

One of the most important parts of real estate investing is finding deals. Finding deals is also one of the hardest parts of the business. The house flipping shows make finding the deal easy, but it is far from it! There are not 100s of banks just waiting to sell their foreclosure for pennies on … Read more