The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Saturday, November 12, 2005

This is going to be a long weekend..

Hey, I haven't fallen off the face of the earth, I'm just busy... My blog entries have definitely slowed and I will honestly say now I am taking the month off from the blog in December. But don't forget me! I'll be back January on my new house hunting adventures with new marketing ideas..

I enjoy many of the blogs that I have links to , but I have to admit I'm really impress with trisha!

http://trishasblogsite.blogspot.com//

She started from zero and in one year (I think) she indeed is building her empire! Go Trisha! If she keeps this up in 3-4 years she will be a millionaire.. Its cool to see the wealth growing.. If any of you guys are on the fence on starting REI, this has got to motivate you!

Ok, so on my stuff, I had a property that I bird dogged to a friend. This has turned out to be a big mistake on my part because I should have buoght it, but live and learn. This property is right next door to my tri-plex. She told me today that she would be putting brick walls up all around her property line. This is cool because its going to cost around 7-8k and I pay zero! So, that's a nice bonus...

I'm working on unit number three and I already have a tenant for it! Just two months ago this property had holes in the ceiling and two units vacant. At the end of the month, it will be a completely rehabbed property with three HAPPY tenants! I have to say, one of my tenants thinks I'm the best guy in the world. I turned this place around and she moved into the new rehabbed unit. She loves it and thanks me whenever I see her. I have to admit, its a nice feeling that I am providing good housing and they appreciate it..

I am going to do things differently in 2006. I am going to work less on houses.. This will allow me to buy more houses. I calculated the costs of the work that I am doing on the houses right now and I have to say it won't kill my profits to just hire it out. However, I do have more equity to show for it and the quality is what I want!

Good investing,

Bginvestor
|| Bginvestor, 6:17 PM

4 Comments:

After the MH and the tri-plex, you could certainly use a nice break. I agree with you about contracting the work out. Unless the place needs a general clean-up and/or minor repairs, I'm going to do the same thing for my future houses.

Unlike you, though, I am going to double or triple my marketing between now and Christmas. I've gotten a few nibbles, but nothing has panned out for me. I want to get at least one more house before year's end, and I won't get it by sitting on my keister.

Best of luck in 2006!!!
Blogger Steve, at 5:45 AM  
Thanks for the plug, Brian! I have to admit, I did relatively little in the years previous to this one. In less than one year, I've managed to close on 11 houses (should've been 12, but one lady backed out AT the closing)! This next year will be even bigger! I wish our net worth was anywhere close to the amount in our asset column. But, hey, I like seeing big numbers in the asset column for a change!
Blogger Trisha#1, at 9:02 AM  
Brian:

You're making the right move. Labor and materials are fixed costs, and you only have 24 hours a day to commit to that. Leverage comes in the deal making (as you obviously recognize).

Either you've become more greatly capitalized with liquidity to make this move, or you'll focus on getting a pool of liquidity that will allow you increase the number of deals you do (and finance the rehabs). That's our approach.

Good luck in 2006!
Blogger Seattle Eric, at 2:21 PM  
Nice work this year Brian.
Blogger Richard, at 3:22 AM  

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