It’s been over a month since Part 1 of My First Flip – What it Takes To Flip A House article series :). I promised that I will disclose what it takes to flip a house, the expenses, and the headaches. Well, it has definitely been a huge expense and a major headache! I was hoping to update on the progress of the flip in this article, but unfortunately, the most upsetting, #wtf event happened. If after reading this article you do not feel upset or actually feel sorry for me, then you are a cold-hearted person!!! Okay…that wasn’t nice of me to say. Let me restate…after you finish reading this article, you might think that I am ridiculously dumb, stupid, dimwitted and all those nice words. I honestly feel pretty stupid, banged my head on the wall several times, pulled my hair out and even want to shave my […]
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My First Flip – What It Takes To Flip A House – Part 1
I bought a fixer upper at the end of August 2017. It was a pretty quick buy, took less than 2 weeks to close, cash transaction. It had to be cash. Most fixer uppers do not qualify for financing, too risky for banks to give loans. You can do hard money loans, but you won’t make as much profit and the closing process takes much longer. For this property, I plan to flip and sell. This is not my usual business. I usually either: buy properties in okay condition, renovate a bit then rent, buy fixer uppers, fix, then rent, or buy properties in good condition, hold for a while, then sell However, this time, I want to experiment with flipping, as you can make some good-ass money doing flips. Many real estate investors have made some awesome money flipping houses and sell to make a quick profit. I am […]
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A Tenant From Hell And How To Deal With Them
Having been a landlord for about 8 years, I have never dealt with what many landlords called, a ‘tenant from hell’, until just recently. Of course, over the years, I get some tenants who are a little on the difficult side to deal with, but they are not what you would consider a ‘tenant from hell’. I have been pretty fortunate to have great, long-term tenants. But with the good, you will eventually encounter those that are terrible, I mean ‘f#$%ing terrible’. Sorry for my french, but you will see what I mean by that.So, let’s get started and see what a ‘tenant from hell’ is like and how to deal with themIf you are a landlord reading this article, I hope you are smarter than I am and do not have a tenant from hell. If you are a tenant reading this article, I hope that you are remotely […]
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How to Lease to Section 8 Housing Choice Voucher Program Participants and Get Guaranteed Monthly Rent Payments!
Leasing your properties to the Housing Choice Voucher Program participants can generate some good-ass, consistent monthly income, as I stated in my previous article, Why I Lease to Section 8 Housing Choice Voucher Program Participants. The process is not as difficult or tedious as some people believe it to be (don’t listen to them!). In this article, I list the steps you need to take in order to have a smooth application process. Every Public Housing Authority (PHA) is different, so be sure to check out their guidelines. I am in the Dallas/Ft. Worth area of Texas. However, most of the steps are very similar. Step 1: Attend the Free Landlord’s Workshop Click here to find your local PHAs and check out the workshop schedules. The workshop is mandatory and you only need to attend once. If you don’t have time to attend, you can send your agent. The workshop […]
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Why I Lease to Section 8 Housing Choice Voucher Program Participants
A brief information about the Section 8 Housing Choice Voucher Program: If you are not familiar with the Section 8 Housing Choice Voucher Program, it is a federal government assisted program to help low income families find decent living outside of subsidized housing projects. These participants can rent apartments, condos, townhomes, single-family homes or duplex from landlords who are willing to participate in the program, and the program will pay landlords on behalf of the participants. The program is run locally by the Public Housing Agency (PHA). Each PHA runs the program differently. Click here if you want to find out more information about the Housing Choice Voucher Program. Getting to the main purpose of this article: Ok, now I’ll get to the point. I can hear you say “dude, get to the damn point, already!” A few reasons why I rent to the voucher program participants: Guaranteed direct rent […]
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