As most of our blog readers know, our most recent REO purchase was made in Granada Hills, CA for the very low price of $312,500. We have since put $42,000 into it in rehab expenses and it looks like a brand new home! It will be sold to an end buyer for at least $485,000 which will give a gross profit of $130,500. After holding costs and re-sell costs, the net profit (pre-tax) will be over $90,000 on just one deal!
Follow our Video Series on this rehab project and watch how we do it. We have several students in our "Make Me An Investor" Program and they are in their 5th week of the 8 week program. They are doing fantastic and are learning the process in a hands on fashion, getting all their questions answered, and travel with us to potential rehab projects, to our current rehab project, as well as listening to actual phone calls with agents and service providers.
We are announcing the second round of our Make Me An Investor program today and invite each of you to contact us by email for an interview request. As in the first round, not all applicants will be accepted. We are looking for dedicated and motivated people who want to learn the right way and who are truly committed to success! In doing so, our student success rate will be second to none. Getting the tools and contacts necessary is only one step in this process. The other is up to you! You much do the work as the profits will NOT just fall into your lap. Our program is not a get rich quick scheme or some bogus means to artificially excite you. You WILL be required to put for the efforts needed to be successful an dthose who do not show the qualities to do so will not be allowed into our program. Limited spots will be available so contact us ASAP for an interview request.
If you had an interview for round one but were not accepted or did not enter the program, we may require you to re-interview so please contact us by email to check in. We can take both local or out of area candidates. The local candidates have the advantage of personally visiting our rehab projects, but our out of area ones are certainly invited to do so and we also have many videos and visual aids to make you a success. We will also have some extras for our out of area students so send us an email today.
Our 8 week program will teach you exactly how we locate, negotiate and close REO properties at steep discounts, rehab them, and then re-sell them for maximum profits. The program includes building your team, funding your deal (includes locating private funding), dealing with contractors, exit strategies (including wholesaling), market and financial analysis, calculating rehab costs, and much more! No stone will be left un-turned and ALL of the strategies and techniques we use for success will be shared with our students for this money making investment strategy. So many other investors are just "doing it wrong" when it comes to REO buying. Don't be one of them. Learn how to do it right, maximize your profits and decrease the amount of time it takes both you and your team members
All candidates are required to interview for a spot in the program. You may do so by sending an email to us at info@nationwidepropertyinvestments.com expressing your interest in entering the program.
William Barnard is Managing Partner of Nationwide Property Investments, LLC. Will has participated in millions of dollars in real estate transactions and has experience in nearly every aspect of real estate investing, including rehab flips. Join our FREE Membership on our Membership page and start or continue your journey to creating wealth through real estate!
June 19, 2009
We have finished the filming and editing of part one of our new video series, "Make Me An Investor" and you can watch the video by clicking HERE. Follow us on twitter and you'll get updates when we upload a new video.
As we work through this particular REO rehab project in Southern California, we will be filming the progress and posting the videos on our video series page, so be sure to watch them and stay tuned. It will be a great learning experience and lots of fun too!
June 18, 2009
Our Granada Hills REO rehab project is moving along. Today, I took delivery of the roll-off dumpster for all the trash and demo debris. We also started the demo work on both the interior as well as the landscaping. Trees were trimmed back, bushes removed, etc. On the inside, we took down the pony wall in the living room, removed the old style wood paneling in the living room, and started the demo on the bedroom walls where we will adjust the closets (details to follow. Much of the demo work and debris was hauled into the dumpster which was placed in the front driveway. We are off to a great start!
I also finalized the timelines with the contractors as well as lined up some electrical work/planning to be done on Friday. My partner and I took a break for lunch and met a couple of fellow investors for lunch at the Bear Pit which is right around the corner. I have met several investors there, including one from BiggerPockets (You know who you are). Boy do they have great BBQ! Anyways, one of my friends we had lunch with was Rosie Nieto who runs a great real estate investment club in Los Angeles called the naked Real Estate Investors Club, "The bare truth about RE investing". We had a great time and she confirmed us as her guest speakers again for this August's meeting. All you local CA investors should come and check out her club and us speak! Her last meeting was a blast!
The best part about today was the video filming started and we got many great shots and footage which will be professionally edited and completed by Thursday, and then posted here and on our website shortly after. Let the videos begin!!!!! Stay tuned for my next post on this rehab project, as it will have real life videos of us in action.
June 16, 2009
We were scheduled to close today with the Granada Hills, CA REO Rehab flip, as all the funds have been wired into escrow (last week), and all the documentation has been signed (no loan docs as it is all cash). Unfortunately, the people working for this bank and their escrow company have their heads up their (well you know the saying). My broker just emailed me the HUD which he JUST now received (we have been requesting it for a week now) and stated that in ALL his years dealing with REO's, these people are the biggest idiots he has ever come across. Oh well, guess we close Tuesday (I hope).
So I planned on doing some of the exterior demo today but could not as I don't officially own it yet, but I went there anyways to get a head start. First thing I did was water the lawn (on the banks dime!) and then I started cleaning off the roof which was full of leaves and pine needles that appear to have been up there for several years. I used a large push broom for some, but the best was the blower which blew that crap right off the roof. It was kind of fun, but dusty.Next, I trimmed the many tree branches which were hanging down over the driveway, over the roof, and over the front yard. They were low enough that you could hit your head on several of them. After that, I cleaned up the area, stacked the branches in a nice pile and filled up the trash cans with the debris. I spent about 2 1/2 hours there all together and the end result was a much more appealing look from the curb. You now have a clear view of the house from the street, as before, the view was blocked by the low hanging tree branches.
Assuming we close tomorrow, & it does not rain, I will start ripping off the wood paneling on the house in the back yard and hopefully get to the front as well. Once complete, the window installers go first, then the stucco guys go next. The two front windows facing the street are going to be ripped out and I will have the areas re-framed to hold a 3' X 5' replacement window rather than the long vertical existing ones. It will make for a much better curb appeal from the exterior and more wall space in the two bedrooms on the interior. I also will have the roll-off dumpster delivered so that all the demo trash can be tossed into there for easy storage and haul off.If it does rain, I will start on the family room wall demo work & the dining room wood paneling removal to get a head start on the interior. If I have time, I will also start on the bathroom demos which will involve removing the shower doors, removing the tub, removing the existing floor and tub tiles and removing the existing old and ugly cabinetry/sinks.
Photos and videos to follow. The video footage starts tomorrow. I am very exited about that. Videos will be posted here on my BP blog as well as on our website/blog - stay tuned!
We're very excited to announce that we will be able to add additional students to our new program "Make Me An Investor." Will usually handles our rehab projects and I take care of our out of state investments, however I was able to free up some time allowing us to add one or two additional serious and dedicated people who want to become real estate investors who are committed to success.
Work with us as we complete one of our own rehabs. We successfully complete these deals regularly. Not only will you be part of our current rehab but we will train you how to do the same, and give you the tools needed so that you can replicate it in your own area.
Contact Us for more details.
And Be sure to follow us on Twitter for updates on our personal rehab project in Los Angeles.
Michael Gier - Managing Partner of Nationwide Property Investments, LLC
And the candidiates are . . . . .
Not quite yet, the public will have to wait just a bit longer. The selected candidiates are being informed via email as we speak as to their selection into our program. They each have a deadline to meet which is Monday at 3 PM. Once we have all of our selected candidates meet their given deadline, I will publically announce who they are. This will take place on Monday, sometime after 3 PM Pacific time.
We are setting up times and dates for our videos to be recorded so that each of you can follow the rehab project as well as follow the progress of our students. We are working on something very special and top secret and it will also be announced in the near future so stay tuned for that as well.
To be continued . . . .
Over the years, my partner and I have encountered several situations, problems, and scenarios in the landlording business. As such, we have created checklists to help guide us and remind us to do certain tasks for certain things. They have become very useful resources for our business.
This morning, I received a call from one of my property managers in San Antonio, TX who informed me that one of my rental homes, which just recently had a tenant move out from (and left it in great condition) had the toilet break and water continued to spill out over a 24 hour period. It flooded the floors into the livingroom and two of the bedrooms! What a mess. I now have him contacting my insurance to file a claim and get it fixed ASAP so the home will be ready for the next tenant.
The moral of this particular story is a reminder to all landlords. The second a tenant moves out, have your property manager (or yourself if you self manage) turn off the water valve to each toilet in the house, or better still, turn off the main valve to the house, so that if anything does break, no water would come out and damage your property. This is one item we did not have on the list, it is the first time it has ever happened and it will be the last due to the addition of the task to our checklist.
We are looking for ONLY four (4) serious and dedicated people who are wanting to become real estate investors who will be committed to success. If you are one of those 4 people, please Contact Us for an interview. Not all applicants will be accepted and you MUST be serious about success.
In this 8 week program we will teach you how to locate the deal, negotiate it, build your team, fund your deal, deal with contractors, and finally the exit process so you can cash your check! Never before have we offered this opportunity and it won't last. This is the perfect market for it anywhere in the country. So what is the catch you might ask? No catch other than you pay us for our services. If you don't make enough money to cover all your costs and have double that for your own profit, you will ONLY have one person to blame - YOURSELF. We successfully complete these deals each month and will train you how to do the same, right along with us. No costly mistakes on your part, no long periods of time building teams, use us and our network of professionals to profit from your very first deal! Do not delay as we will only have time to take on 4 people for this excellent opportunity! Stop the excuses. Get started making money investing in real estate today!
Be sure to follow us on Twitter for updates on our personal rehab project in Los Angeles.
There’s a reason why we keep pushing Texas, and in particular, the Dallas/Ft. Worth area.
In a recent real estate article they talked about Tom Wilson, an investor who had completed a 30-year engineering career in California’s Silicon Valley. He said, “Out of all the things I’ve invested in, real estate has been the best.” He spent a year studying the entire country’s biggest metropolitan areas. "Dallas-Ft. Worth turned out to be the highest return of the invested dollar in the US today.” The many reasons why he has been investing in the Dallas-Ft. Worth area are because of "it’s broad economic base, it’s the business capital of the South, the top place for corporate relocation, affordable housing, landlord-friendly laws, and the second busiest airport in the US.”
His advice to investors is “only buy properties with a rent ratio greater than 1 percent per month rent, compared to the value of the property.” (For example, a $160,000 property should rent for at least $1,600 for positive cash flow with 20% down)
We have a new duplex for sale in the NW Ft. Worth area that costs $155,000 with rental income of $1,600 - $1,700 a month. The price is right, the rental income is right, and the location is one of the best in the country. Go to our “available properties” page or feel free to contact us.
info@NationwidePropertyInvestments.com or call 800-469-2260
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