SD CRE Blog

Buying a Fixer Upper

jbell — Thu, 25 Feb 2010 00:36:23 +0000

Click here to view the embedded video.

These days everyone is looking for a good cheap deal when they buy a home. Investors are definitely taking advantage of the foreclosure market and buying fixer upper homes. Many first time home buyers are also buying fixer upper properties and putting in their own “sweat equity.” They are hoping to cause the value of the home to be higher than the value of the money they put in with cash and/or borrowing power. Many things can be hidden from view when you buy a fixer upper. Fixing these items may cost more than you bargained for. Your best strategy to buy a fixer upper home is to consult with experienced investors and rehabbers like us at EnergyWise Properties. If you buy a fixer upper from an experienced wholesaler, often you can find out what needs to be fixed before you buy. Wholesalers find the best fixer upper properties for the rehabber/buyer to make money. At EnergyWise Properties we have detailed investor education, training and coaching to make your next fixer upper investment profitable. Contact our office for info on our investor training or go to our web site to buy a fixer from us. EnergyWiseHomeSellers.com

Foreclosed Homes – Garages converted to a bedroom

jbell — Tue, 24 Nov 2009 07:01:57 +0000

Click here to view the embedded video.

On our last foreclosed homes investing tour, we learned a ton about how to buy and rehab REO houses. We had 2 contractors on the tour. Their insights and cost analysis were invaluable to everyone on the REO tour. I want to share with you some video footage of garages converted to bedrooms or recreation rooms. Sometimes this is obvious and in other cases it is hard to see unless you have looked at many other homes.
To sign up for a tour email us at info@energywiseproperties.com
If you would like to be notified whenever we update the blog with more creative real estate tips, register for the blog on the left menu by clicking the word “Register”

Title and Escrow issues when you buy a Foreclosed Home

jbell — Thu, 12 Nov 2009 02:59:17 +0000

Tonight I interviewed Fred Eckert, Chicago Title, on title and escrow issues facing real estate investors. Here is a sample video. If you would like more investing advice, email our office to set up some coaching. students@energywiseproperties.com
For more videos by Fred go to his web site at http://www.fredeckertgroup.com

Finding a Good Foreclosed House to REHAB

jbell — Sat, 24 Oct 2009 20:40:03 +0000

Click here to view the embedded video.

This older home was an REO and sits on a corner in an older area of town near apartment buildings. As we take our students through it on an REO/Foreclosure tour everyone is holding their noses. The smell of cat urine is bad! It was on the REDC auction. The bank rejected the bidders final price ~$90,000 from the auction and either re-auctioned it or put it back on the market. So if the auction is not absolute, you may not get the house even if you are the highest bidder.
If you are looking for a house to rehab you will get a bigger discount by making offers on houses that are too bad, ugly, or smelly for the average person. That eliminates most other competitors from making offers.

Use Video to Take Your Notes on Foreclosed Homes

jbell — Sun, 11 Oct 2009 06:44:07 +0000

Click here to view the embedded video.

We finished an REO tour of foreclosed homes a few weeks ago. I wanted to share with you how I record info when I am screening foreclosed homes to buy. I used to take about 10 pictures and take notes on an inspections checklist on a clipboard. It took time and I was juggling the camera, clipboard and pen. As well as putting stuff down on the kitchen counter (the only table top in empty houses). It was hard to remember the floorplan and I know I missed some notes. For the last 2 years I have used video to record everything I see and the audio to take my notes. Back in the office, just review the video and then make offers. KISS! Keep it simple stupid! It is so easy.

REO INVESTOR SUMMIT

jbell — Fri, 05 Jun 2009 18:57:36 +0000

Click here to view the embedded video.

Greetings Fellow Real Estate Investor:

You are invited to participate in our upcoming REO Investor Summit. This two day event will include an all day REO tour on Saturday and a DEAL Analysis Class on Sunday.

Spend two days with Janice Bell and Rich Hake! This is your opportunity to spend 2 FULL days with two coaches for top REI gurus where you can ask questions, network with other investors and learn details that are pertinent to today’s changing marketplace. You will learn how we analyze deals, call REO brokers and make offers. OFFERS will be made on Sunday on houses from the Saturday tour.

Space is limited to 40 so register quickly!

Saturday, September 19th 9:00am – 5:00pm

Sunday, September 20th 10:00am – 5:00pm

Lunch and snacks provided on Sunday

REO Investor Summit: $699

DISCOUNTS FOR: COACHING STUDENTS, MEMBERS OF SDCIA OR NSDREI OR PREVIOUS TOUR PARTICIPANTS,YOU MAY PARTICIPATE BOTH DAYS FOR $350!!

TOUR PRICE: $99 ANALYSIS CLASS: $299

The tour will be in the San Diego area with the focus on evaluating properties for purchase with multiple exit strategies of wholesale, flip to retail, rental and long term hold. We will cover what is right and wrong with each house. Why we would or would not buy it and for what type of exit strategy. We often bring along another expert eg. contractor, inspector or appraiser on this portion of the tour.

The Analysis Class will cover selecting comps, choosing properties and exit strategies, running the numbers (cost analysis of each house) calling the listing agents, and making offers. We run you through the process as we would do in our offices. This is how we do it start to finish. Rich made a lot of money leading up to the last bubble in this very same geographic market. Join us for the class, then rinse and repeat!!

Please register by following the directions and the Paypal links at the bottom of this letter. Upon receipt of payment, instructions will be provided regarding where to meet.

This is your opportunity to spend 2 FULL days with two coaches for top REI gurus where you can ask questions, network with other investors and learn details that are pertinent to today’s changing marketplace. You will learn how we analyze deals, call REO brokers and make offers. OFFERS will be made on Sunday on houses from the Saturday tour.

Do you have the knowledge to buy the right investment property and the know-how to rehab all these foreclosures on the market? With the right know-how YOU can make TONS of money in the next few years.

Fortunately for you we are offering an REO tour and DEAL Analysis Class and you can learn from our experience how to chose the right house to wholesale or rehab.

When you attended a recent Real Estate club meeting you signed up for an REO tour offered by Energywise Properties, Inc. and Green Hill Mortgage LLC. I am Janice Bell, President of Energywise Properties, Inc. Rich Hake is owner of Green Hill Mortgage LLC and a private money lender. We have both completed many rehabs over the years and bought numerous houses from the bank in various markets. We should be in rehab for being addicted to rehabs!

First lets answer Your Questions:

WHAT, Another boot camp? No, we teach the laboratory they forgot to offer with your last boot camp. Remember in school the science, math or computer classes that had a lab or tutorial where you learned how to DO the stuff they taught in the lecture class. That is what we offer at Wise Wealth University, the hands-on lab classes where the class size is small and you can get your questions answered.

WHO Are you? My name is Janice Bell and I have gone to many of the same boot camps as you. Once I got home there was no one there to tell me what to do next or what to do when I hit a glitch in the boot camp theory. I just kept asking and reading and doing until I figured it out. I have fear just like you. I am stubborn and I keep pushing through it. As far as teaching, I was trained to teach genetics, biology and biotechnology and Rich was trained to teach chemistry, all at the University level. I LOVE to take a complex topic and make it clear. My passion is to explain it in a different way until you get it. Since I can do that with Human Genome questions, I can probably do that with real estate questions huh?

WHY Listen to you? Ever notice how everyone bashes Detroit? That is a tough place to do business. Well I learned to do rehabs by buying REO’s in Detroit and Lansing, MI as well as Utah. Rich learned by buying rehabs in Baltimore, upstate New York and Ohio. We have both owned properties in Southern California as well.

WHEN Is it? REO Tour will be Sat 9AM -5 PM. Lunch is on your own. Analysis Class will be Sunday 10AM – 5 PM in a classroom setting. Lunch as well as Drinks and Snacks will be provided on Sunday.

If you ever want to do a repeat you can go on the tour again for $25. That way if you saw one area of San Diego and want to see another area you can. There is always new material on each tour depending on the houses we see and the questions of those on the tour.

HOW MUCH Is it? The Deal Analysis Class is $299 and the REO Tour is $99. Both classes together are a bargain at $350 for 2 whole days. SDCIA and NSDREI Members, Coaching students and those who have attended our tour before can come to BOTH days for only $350. For the REO tour 1 day ONLY our coaching students receive a discount and pay $99. If you did not get enough of us jabbering about real estate the first time, you can repeat the tour for a whopping $25.

HOW Do I sign up? HOW Do I sign up? Click on the links below to pay with PayPal. You will have a secure checkout. You do not need a Paypal account and can pay with any credit or debit card. Look for the small print in the lower left that says “Don’t have a PayPal account?” If you see SDBiocomputing on the paypal invoice, don’t worry, that is my consulting and education company. “Wise Wealth” will be on your Credit Card statement.

Tour and Analysis Class $350

Deal Analysis Class -Sunday Only- (You must have attended our tour before) $299

REO Tour $99 -Sat only

Repeat Tour: $25

If you have any questions, feel free to email us at Info@EnergywiseProperties.com.

With the right know-how WE WILL ALL make TONS of money in the next few years.

SOCALCIA

jbell — Tue, 02 Jun 2009 05:12:17 +0000

Title: SOCALCIA
Location: UCSD Copely Theater
Link out: Click here
Description: Dutch Mendenhall
Presents
Short Sale Update & Training
June 4th, 2009

Several of my commercial students also do residential short sales. One of them is Lenny, and he’s done 200 short sale deals in SoCal. It seems everyone is profiting with short sales these days, which is to be expected since the banks are overrun with foreclosures.

In fact, short sales are such a boig phenomenon that even Congress and the President are involved. The rules are changing and you need to know how they will affect you.

So I asked Dutch Mendenhall to provide you an update on the latest rules of the game, because always stays one step ahead of the game and is profiting like crazy as a result. Dutch is one of the few in the Nation who does both residential and commercial short sales.

At the meeting this Thursday, Dutch will teach you:

* Why there has never been a better time in the history of our country to invest in short sales, and so many other people are doing it
* How you can invest in short sales with none of your money or credit, and outsource the whole process so you can work on growing your business
* How realtors and investors can team up to maximize profits
* Why you should never negotiate your own short sales, even if you know how
* How his company negotiates and closes lots of short sales for investors
* Why his program is different from most other negotiation companies

This is likely to be the ONLY short sale training this year, so don’t miss it!!
Start Time: 6:30pm
Date: 2009-06-04

NSDREI’s 5th Anniversary Dinner Party featuring one of So. California’s Top Real Estate Fishermen…

jbell — Tue, 02 Jun 2009 05:00:24 +0000

Title: NSDREI’s 5th Anniversary Dinner Party featuring one of So. California’s Top Real Estate Fishermen…
Location: Shadowridge Country Club, 1890 Gateway Drive, Vista
Link out: Click here
Description: Bruce Norris-Where to Go Fishin\’ for Real Estate Deals Now and in 2010
What do you need in your real estate bait bucket? Where should we fish? What kind of fish to catch? What to do with \’em when you catch \’em. Grab your real estate fishin\’ pole & tackle and join NSDREI as Bruce shares his best real estate fishin\’ tips. Learn how 2009 thru 2010\’s challenges may well land some of the biggest real estate catches in recent California history.
Start Time: 5:00pm
Date: 2009-06-16

Earth Day: Will the next foreclosure you rehab be GREEN?

jbell — Sat, 18 Apr 2009 00:24:42 +0000

Earth Week San Diego

Earth Day is coming up April 22 with an Earth day event at Balboa Park, San Diego on Sun April 19 10-5. What a great time to learn how we can make our lives and businesses greener. We all know about recycling our paper and bottles. Take a new step each week. How about carrying around your own cup and water bottle? Hand it over at the coffee shop to have them fill it up. Or bring in your own reusable grocery bags. Others will see you and be inspired.
I love to rehab houses. Now I call it RECYCLING a house. Not building a new one but recycling a house that someone else could not use anymore. You can even “recycle the loan” by taking the house subject to the existing mortgage. Will you install appliances that use the least amount of energy possible? How about renewable bamboo for the flooring? How about energy efficient light fixtures?
If you want more Ideas go to the eHOME exhibit on Sunday, part of Earth Day. Here is a link for Earth Week events in San Diego Earth Day Fair, Balboa Park The world’s largest annual environmental fair and Earth Day Celebration – all produced by volunteers. Check out a new sponsor for the event Zero Waste San Diego
If you can not make it to San Diego, here is an easy one for you: check out Earth Day on Amazon Scroll down their page and send me a comment on how many of those products you use. I’ll go first: green cleaners, personal stainless steel water bottle, compact fluorescent bulbs, bamboo flooring, reusable grocery bags, compost pile, gardening book, waste baskets (real baskets woven from grasses, not plastic), low flush toilets.
Check out the chance to win a laptop and printer from Amazon. Amazon and ENERGY STAR are hosting an Earth Day Sweepstakes. Find the info right at the top of that same Amazon page. Five first-place winners will receive two ENERGY STAR-qualified devices: a Toshiba laptop and a Brother multifunction printer. Fifteen second-place winners will receive the Brother printer. NO PURCHASE NECESSARY. Enter by April 22, 2009.
Earth Day Video

REO Tour of Oceanside CA

jbell — Sat, 21 Mar 2009 06:09:44 +0000

On Saturday February 21, we held our second REO Tour, this time in Oceanside. We viewed 16 houses, most in good shape and cleaned out. We like 3 bedrooms minimum and don’t bother with condos/townhouses. The largest one we saw was a 7 bedroom assisted living house. It had originally been a 4 bedroom 2 story. Extra rooms were added onto the side of the house. The owner that was in foreclosure had bought it subject to and existing loan so the sale was contingent on the bank finding the first mortgage holder who was not the one in default. In that case you might imagine the bank does not like any properties sold subject to. We put in an all cash full list price offer on one of the houses. With 15 other offers, ours was not accepted. About 1/2 of the other houses now have pending offers. We will post results on those houses as we see the final sold prices.

NEXT REO TOUR:

Saturday March 21, 2009. To receive the sign up flyer and reserve your seat please email us at info@energywise properties.com

Tour of bank owned homes in Oceanside CA