flipping: Water, Water, Everywhere... Trashing the House... - 09/17/09 01:40 PM
Water is essential for life.  Without it, everything dies.  But... sometimes it can be a pain in the butt... like when it is in the wrong place in the house... or outside of the house...
I have a buyer that is under contract on a beautiful home... or more accurately, a home that could be beautiful.  But it has problems.  Water. 
The biggest issue is one that people usually don't think of...
Gutters
There are several damaged gutters around the house, and some that we suspect are clogged.  Furthermore, the downspouts are in less than great condition... blocked, broken or poorly … (6 comments)

flipping: Shouldn't I have seen a bubble? - 01/10/09 03:08 AM
I received a comment via email on another blog I posted about Price and Value.  Here is the comment:
I could not figure out how to post on your blog. I would have been the only who would question or challenge your post.Those real agents who in agreement with your blog,were the probably the same real estate agents who pushed buyers to buy at high prices. The deals were being done,and most buyers had agents, most sellers had agents, and those that didnt did it on their own. Do you think there is some ego on real estate agents part that … (3 comments)

flipping: How is the view from the sidelines? - 01/17/08 02:35 AM
Through a search a few weeks ago I ran across Real Estate Radio's blog.  I have been enjoying the read for quite a while, and even listening to some of the podcasts (they are full radio show recordings, and are two hours long).  I don't listen to as much of the podcasts as I'd like, because of the length.  
But, the show from January 10th has very interesting notes. 
Barry C started off the show by letting us know Geppeto has spoken again and the rates are coming down! Think this is not the time to buy real estate? Fine … (0 comments)

flipping: Thoughts on the Foreclosure Bailout - 12/08/07 05:31 AM
Everyone has weighed in with their opinions about the proposed government bailout of some of the 1.2 million people facing foreclosure... I guess I'll toss out my nickel (side thought... if everyone that has offered an opinion actually gave up the nickel, WE could bail out the people facing foreclosure...)
I don't like government bailouts.
I'm a libertarian (I haven't joined the party, so I'm not a Libertarian).  I don't believe that government has a role in every part of our lives.  I think that the US Constitution is the guideline for the structure of our laws... and the role the … (3 comments)

flipping: Real Estate Investing 203 - 08/22/07 10:24 AM
Back in Real Estate Investing 101, Part II, I briefly mentioned "Shifting Classes" after the Buy & Hold strategy.  There are a few different ways to shift classes and uses that can build value for investors. 
Residential to Commercial
One of the most common ways to increase value while shifting classes or use is to have a property re-zoned from residential to commercial usage.  A property that is located on a busy street would be a prime example.  The busy street lowers the value for a residential property because of the noise and associated traffic.  It is even more true of … (2 comments)

flipping: Want to sell your house to an investor? - 08/21/07 04:31 AM
I get the occasional call from people that have a house they wish to sell quickly.  Often, the home is in less than optimal condition (sometimes heinous is a word that creeps into my mind).  They range from estate sales to pre-foreclosures to rentals that the owner doesn't wish to handle any more.  Usually, these people are wanting to market to my investor database.  Sometimes, I don't think people understand what this entails.
Investors are looking for houses that they can use to make money.  In order to make money the house needs to offer one or more possibilities. 
It needs … (3 comments)

flipping: Real Estate Investing 301, Part II - 08/17/07 02:25 AM
Real Estate Investing 301Part II
 Link to Part I
Advanced strategies
 
Strategies for selling hundreds of properties
 
For most buyers, holding the properties isn’t the option that they are looking for.  Turning the properties is the goal.  Generally, there are a few different strategies that sellers use to dispose of the properties.  These depend on both the properties and the type of buyers. 
 
Wholesale sellers sell to other investors at a discount from BPO.  This allows them to minimize further expenditure, while maximizing return for less than optimal properties.  The properties can often be moved fairly quickly.  One … (0 comments)

flipping: Real Estate Investing 301, Part I - 08/17/07 02:16 AM
Real Estate Investing 301
Advanced strategies
 
In Real Estate Investing 101, Part I we covered buying a house to resell for a short term profit, while minimizing risk and making it happen fast.  We delved further into flipping in Real Estate Investing 201.  In Real Estate Investing 101, Part II we covered buying and holding property for long term appreciation and wealth building.  We also touched on class shifting to increase value.  Real Estate Investing 202 continued on the Buy and Hold theme and offered deeper insight into making it profitable.  In Real Estate Investing 203, we looked at shifting … (0 comments)

flipping: Market update for Gwinnett County, July 2007 - 08/10/07 09:33 AM
Gwinnett County sales comparison for residential real estate. 7/07
 
It time for me to make my prognostications for the coming market, while recapping that which has happened. Please keep in mind that even on the 10th of August, the numbers for July WILL change.  I will come back and correct them before posting the September results.  I originally posted the June number on July 10th, and they had changed pretty significantly by August 6th when I reviewed and corrected them. 
I see a solidification of some of the trends that I pointed out last month.  Listings are up vs. … (0 comments)

flipping: OK, I said this a month ago!! - 08/08/07 02:13 PM
I just got today's REALTOR Magazine Online Daily Update.  This was one of the stories that was featured.  It is about how foreclosures are up.  They make up 10% of the listings in CA, as opposed to 1.7% last year.  But, at the same time, distressed properties aren't listed at much of a discount compared to other properties.  
A month ago, I posted this update for part of my area.   If you struggle through to the end, you'll see this passage:
Foreclosures will start to get more attractive if the lenders start to get realistic about the prices.  I … (0 comments)

flipping: Luxuries for Entry Level Buyers? - 08/06/07 12:08 PM
I was out today with a client looking at entry level homes.  One of the homes we looked at turned out to be a seemingly under-priced townhome.  This wasn't of interest to my client, but it did have some interest for me.  But, it got me thinking... (regular readers will recognize the danger here)
This was a most entry of entry level properties.  Listed at only $113k in an area where the other similar properties seemed to be listed around $140k-$150k.  But, it had needs.  It needed carpet or other flooring, paint EVERYWHERE, and all of the appliances.  
The problem … (4 comments)

flipping: Real Estate Investing 201 - 08/03/07 03:05 AM
Digging a little deeper into Flipping
In Real Estate Investing 101, Part I, we covered buying a house to resell for a short term profit. In this lesson, we’re going to delve a little deeper into flipping, run a scenario, and examine ways to maximize profit, while minimizing risk and making it happen fast.
 
Finding an appropriate property Obviously the first ingredient in a profitable flip is the property. Despite what one may see on TV, it takes a little while to find good candidates. The various types of properties that may make good flip candidates are foreclosures or REO … (0 comments)

flipping: Hello, Media... Are You Listening? Real Estate is LOCAL. - 07/25/07 08:12 AM
How many times do we have to hear that the housing market is doing one thing... and that must mean that the whole market is doing the same thing? 
When the price of a barrel of oil goes up, it is a singular commodity moving.  While there are different grades of oil (sweet light crude, heavy crude, rough crude, etc.) they are interconnected.  If one moves, they all move because their value is interconnected.  
When prices move up or down in GA, there is little correlation to prices in Maine.  They aren't interconnected.  There may be a few instances when … (7 comments)

flipping: What is going to happen to interest rates? - 07/23/07 06:26 AM
OK, the water is chest deep now.  I started wading in here, and I just don't know when to stop. 
So, what do I see happening with interest rates?  Overall, I see them going down.  But, I think they'll go up first.  Was that vague enough that I can claim victory no matter what?  
First, the case for rate rising.  In the short term, I see rates going up a bit.  Not a lot, but somewhat.  We won't even get close to the credit card looking rates that Jimmy Carter left the mortgage market with, but rather people will think … (2 comments)

flipping: Are we on the edge of a calamitous housing bubble? - 07/23/07 06:05 AM
Boy, am I going to wade into it this time...
I was wandering through the FOXNews Real Estate section, and came across this feature story.  Reading this, one would think we were seriously in trouble.  "... from San Francisco to San Diego — is predicted to decline 50% in the next five years."  The story goes on to say "... that America's top 40 cities are facing a average 47.2% decline: Boston is 49.4%. Miami 44.8%. New York 44.6%. And Chicago is 27.3% overpriced."
I'm wondering about here in Atlanta.  I'll be going out to get a look at the book, … (6 comments)

flipping: Lessons from driving school, Part I - 07/15/07 12:00 PM
I ran across something earlier today that reminded me of driving school and the life lessons that I picked up there. 
When I was a bunch younger, I went to a few high performance driving schools.  They were great learning experiences, and the people that taught were amazing coaches and motivators.  I think that one of the most amazing things about the assistant instructors was that they were providing this motivation and coaching from the passenger seat of a car they weren't in control of... and often the driver wasn't in control of it either. 
The first thing that I picked … (0 comments)

flipping: Real Estate Investing 101 Part 2 - 07/12/07 07:28 AM
Buy and Hold Another tool in the bag of the Real Estate Investor is the "buy and hold  option. Buying and holding a property is a longer term strategy. In this case, one is using the increase in values over time, generally in conjunction with rental income, to increase their personal wealth. The renter is the key to this being a hugely profitable strategy. An example of this would be: $200,000- purchase price ($40k cash, $160k mortgage) $485,000- selling price (after 30 years at a conservative 3%/yr.) $1,500/mo.- carrying cost (this will go up slightly as taxes and insurance increase) $1,600/mo.- … (0 comments)

flipping: Real Estate Investing 101 Part 1 - 07/12/07 07:26 AM
Real Estate Investing, 101 Real Estate investing is one of the best tools to build long term wealth and financial security. About 70% of millionaires in the US built their fortunes in Real Estate, so it is obviously an excellent tool. There are several ways to incorporate Real Estate into one’s overall financial picture. Flipping The first method I’ll cover to invest in Real Estate is a shorter term option called "flipping". Basically, flipping a property is buying a property at a below market price and then selling it at a market price. The property may be purchased below market value … (2 comments)

flipping: Market update for Gwinnett County, June 2007 - 07/10/07 12:58 PM
Gwinnett County sales comparison for residential real estate. 6/07
 
Here is a look at the residential real estate market for Gwinnett County for the last two years as well as looking at overall trends that will affect investors and “move-up” buyers in the next few months. 
Looking at the numbers up through June of 2007, there are a couple of trends that seem to be materializing.  New listings are up year to date (YTD) about 13% over last year.  May and June are up 11% and 9% respectively over the same period last year.  The trend seems to be new … (1 comments)

flipping: Back from New Orleans - 06/26/07 02:24 AM
The family just got back from a visit to New Orleans.  We stayed in a rental condo just outside of the French Quarter, near Decatur and Frenchmen streets.  It was a great place to stay.  We spent the majority of our time in the French Quarter.  We did have to run over to Slidell for a wedding reception (1/2 of the reason for the trip).  We did, however, see some of the left-over damage from Hurricane Katrina.  We spotted a few things on the way in along I-10.  The Six Flags park is closed... and not coming back.  There were areas … (0 comments)

 
Lane Bailey, Realtor & Car Guy (Century 21 Results Realty)

Lane Bailey

Realtor & Car Guy

Suwanee, GA

More about me…

Century 21 Results Realty

Address: 2209 Sharon Rd, Suite 250, Cumming, GA, 30041

Office: (678) 679-1393

Mobile: (678) 200-5895

Get great free widgets at Widgetbox!



Listings

Links

Archives

RSS 2.0 Feed for this blog