Buying our Freedom, One Rental Property at a Time...
Buying a rental house is fun and has made us a great deal of money thus far. However, we needed to find a way to buy them even smarter, cheaper, faster. Until now, we had been good at scouring the local MLS (Multiple Listing Service) to find excellent deals or...
May 2014 Another House Flip to Generate Cash Hindsight is 20/20 yo. This mindset is the phrase that comes to mind when I think about house #9. We found 2702 Drifter Overbooks through our yellow letters campaign. An old, tired landlord contacted us and wanted to sell. D negotiated a...
Full Disclosure… as I’m writing this on Thanksgiving we just got a call from a tenant. She told us that her toilet was spilling out into the bedroom with all kinds of nastiness. Joy. This call is stressful for us as the property managers especially on a holiday, but this...
May 2014 A few weeks after we added house #7 to the farm, we came across another fantastic deal in 23307 Pinery Riverbed. This property was a four-bedroom, two-bath house close to our foundation project house. It was an investor/contractor who had bought it and fixed it up and was...
December 2013 For house #7 on our asset list, it came from yellow letters once again. We got a call, and my partner, D, negotiated an excellent price for this three-bedroom, two-bath house. They were moving out very soon and were prepared to sell. It needed a little updating and...
My hand was shaking when I signed the loan documents. We had such a good plan, but I was still terrified. We laugh now thinking about this dumpy little 2 bedroom house with a flat roof and window AC units. We paid $45,000 on this thing and spent 2 months...
“Borrow a million dollars, and then find a way to pay it back…” Too Much of a Good Thing Sometimes you get so many good things coming your way that it becomes a problem. Do you remember the times as a kid when your parents would let you eat all...
November 2013 Buying Rental Houses My partner and I were now getting good at buying houses, especially from these yellow letter lists from which we had been sending letters. Our problem now was having enough capital to close deals. We started getting friends to loan us money for the short...
Do you remember the fire triangle as a kid? It was the triangle that represented the three necessary parts of a fire. Heat Source Fuel Oxygen Without any single side of this triangle, you can’t have a fire. Take away the heat, and you’re left with just a pile of...
September 2013 Now we were really cookin’! We had officially lifted a house 12 whole inches and rehabbed most of the inside very inexpensively. We then creatively financed the house and pulled all of our money out of it. There had to be more deals out there like house #4....
