Flip This House

Success stories & not so successful stories of an Atlanta Real Estate Broker who has flipped over 400 houses since 1981. Check out the before and afters.

Found 15 blog entries about Flip This House .

Construction Loans ~ Which are best?

There are two types of construction loans used by homeowners;
1. One-time-close loans
2. Two-time-close loans

With all construction loans, money is disbursed by the lender based on a pre-established construction draw schedule. The goal is to only pay for what has been completed, minus retainage, typically 10% of the cost of the project, which is held back until everything is completed properly and the owner has issued a certificate of occupancy (CO).

One-Time-Close Construction Loans...

This loan has one approval process, and one closing, simplifying the process and reducing the closing costs. Typically, the borrower can choose from the portfolio of mortgages offered by the lender such as 30-year-fixed, or

109 Views, 0 Comments

I initially began purchasing rental property as a way to diversify my wealth-building strategy. After I acquired three houses, I noticed that over the course of six months, my rentals were far out-performing my IRA and 401(k). I decided to pull my money out of the financial markets and reinvest it into building a strong rental portfolio. I’m not saying that this is a strategy everyone should employ, but I will say that anyone looking to build wealth should at least review the real estate investment vehicle.

The housing market crash has become a distant memory, and home prices are looking healthy again. That means there are good opportunities for investing in the residential real estate market.

If you’re ready to borrow for a residential

433 Views, 0 Comments

With the number of homes that are being flipped; it is important to know and understand the types of loans that will allow for a home to close.  This is important for investors and for those who wish to buy a home that will be flipped.  Conventional loans are not a problem, but FHA can be.

Conventional Loan

When it comes to flipping homes the conventional loan does not have criteria that would be associated with title seasoning.  Although one of the things I do is supply the appraiser with a list of all of the expenses so that they can see what type of improvements have been made to the property.  This is very important.  That way they can look at the improvements and cost and realize that the house should have gone up in value.

FHA Loan

469 Views, 0 Comments



Getting Ahead Of Low Inventory

A couple of months ago in order to get ahead of the foreclosure market we decided that we were going to look for homes that were currently in foreclosure, and attend the foreclosure sale in Gwinnett County.  We hoped we could purchase a home at the auction and get ahead of the game. We spent the entire month looking at close to a hundred foreclosures in Gwinnett County, and ended up purchasing one at the foreclosure sale.

The home was actually occupied by a homeowner who lived there for quite some time, and had experienced some financial difficulties over the years. As a result he fell behind on his payments and also fell behind on maintenance that needed to be done.

Gaining Possession of an Occupied Auction

587 Views, 0 Comments

 

                                                                                                                               

We recently received a call from some dear friends suggesting that we contact the owner of this home.  It is located in Duluth, just inside the city limits, and only a short walk from downtown, a very desirable area.  Our friends, who are neighbors, wanted us to purchase this home to insure that the renovation was done correctly; resulting in improving the values in the neighborhood and hopefully providing a good neighbor in the process.  The home was known as “the yard that took over the neighborhood”.

Before & Afters Link- Check It Out

Although not a large home, it had about 1556sf; consisting of three

1,288 Views, 0 Comments

 

In today’s tight inventory real estate market, finding good deals can be a challenge.  Once properties have been repossessed by the lender and then returned to the market you can expect higher price and lots of interest in the property. This normally means multiple offers.  In many cases once a property hits the open market they may actually sell for more than they should due to demand and low inventory.  This reoccurring theme can be very frustrating at the least and can result in over paying if not careful. 

Is There Another Option?

Depending on the amount of time one has and their source of funds, the county courthouse auctions can provide an opportunity to get on the front end of the deals. Although multiple buyers show up on  the first

743 Views, 0 Comments

One of Our Renovations - Will Renovate For You

ludwell_front_view_1_1760

  175 Ludwell Court Johns Creek 30022

Four Bedrooms – 3.5 Baths – With Full Basement & Master on the Main. All on a cul-de-sac lot.

That’s right! If you have ever wanted to live in Medlock Bridge, but have a home to sell in order to do so, this may be for you.

The process is quite simple, we will buy your home and pay cash for it, provided you purchase our home after we complete the renovation.   van_thumb_white_120

Since 1981 we have done this many times. It allows for you to sell your home in conjunction with the purchase of your new home. This will eliminate much of the stress associated with making a move and will provided a more predictable outcome. 

Please feel free to email or call Van at

1,713 Views, 0 Comments

The Hunt

We recently represented a client that was looking for a second home on Lake Lanier. Our search yielded a slew of homes that homeowners had hap-hazardously added on to over the years, resulting in what seemed like a box with random boxes awkwardly attached. In many cases ceilings were less than six feet, in others we had to walk through a bedroom to get to another bedroom…. What were they thinking? But one day we saw a new listing appear. On first glance it seemed to have all the right features, on the water with 13’ of water at the end of a permitted single slip covered dock, with a boat lift. On top of that it had a gentle slope from the house to the dock. All this and Fannie Mae had it priced at $151,900. This was a deal so we decided to…
1,850 Views, 1 Comment

You never know what the Government will do. This was the case on a recent HUD Foreclosure that we purchased. Interestingly enough it was the exact same floor plan of one we had purchased and resold a few months earlier. It also was sin Alpharetta and is posted on our Blog under “Flip This House”.

berkshire_manor_before_front_1760

We had been watching this home for sometime. It was originally offered at $110, 000, as shown below. Having just purchase the exact same house several months earlier we knew what we could resell it for and thought we had a good idea what we could purchase it for. One thing to remember about HUD is that once you make an offer on the property, they respond by either accepting the offer, or by declining it. The neat thing is that when declined they always tell

2,176 Views, 0 Comments

We felt that this particular home, located in The Hunters Forest subdivision, off of Jones Bridge Rd, should sell for the mid to upper $140’s.  We had originally planned on adding a sunroom to elevate the price to the mid $150’s, but decided not to.  We felt that with our purchase price of $71,000 we would still be able to make a profit without adding the sunroom. 

dcp_4811_1760

Our plans were to close just before Christmas, and to begin the renovation shortly after the beginning of the year, so that we would have it ready to return to market by March.  Instead we closed on November 30th, and started the renovation immediately, in order to provide work for our crew in advance of Christmas.  It worked out great, we finished on Christmas Eve.  Three weeks, and

1,342 Views, 1 Comment