Funny Home Improvements...

Below is a series of my favorite homeowner specials. Leave it to the professionals when at all possible and if you can't, blame it on your brother in law!

Who needs a good HVAC technician? THIS guy! 

Someone had a little too much to drink and too much time on their hands

Looks like someone valued this trailer by looking at Zillow's Zestimate..

This window won't streak..

perfect fit!

Custom AC

Welcome to the house of pain

Needed a condensor fan motor, problem solved!

Looks like he's on?

Basic Real Estate Investing tips everyone should know before getting started!

Whether you are a newbie or seasoned investor, these are tips you MUST know.

A primary home is most important. Buying your own home gives you a place to live and teaches you the cost of home ownership, financing and market conditions. You will also learn about property maintenance and build your own network of professionals who can prove to be invaluable when investing. Finally, your first home could later turn into your first investment property!

More knowledge is better. Being a savvy investor takes more than just buying up promising properties. Having a good knowledge base will go a lot longer than a “sixth sense” for good deals. The Internet, books by reliable authors, investment groups and college courses are all good resources to learning the best investment practices. You can also tap into other successful real estate investors or real estate agents for information. Make sure you use more than one resource so you can evaluate the viability of the information you gather.

Professional help may be necessary.  Although you may not think you need help, a trustworthy, honest professional may be the partner you need. Realtors can be especially helpful if you are new to investing, and management companies may take the pain out of property management. For instance, managing a rental property takes a lot of time, and you will need to be prepared to make repairs, resolve issues and advertise for renters if you are taking on the task yourself. In the long run, a management company may be just what you need. Use the referrals of friends, family and associates to find reliable, honest professionals to help you.

Know the market inside and out. Before you invest, investigate the local market thoroughly. There is no universal real estate “bubble.” Each market is different, and experiences different fluctuations and trends. One market may be good for rental income but not appreciation, while another market may be excellent for appreciation but poor for rental income. There are endless variables, and it is important for you to know exactly what you’re getting into. Remember that one area is never the same as another area.

With these basic tips under your belt, you are ready to venture out into the investment landscape. Gather as much knowledge as you can, and, after that, happy investing!

Wholesaling Houses is Harder Than You Think!

      Recently, I began flipping houses. Just like you see on tv I thought. Get in, make a home beautiful, get out with a lot of dough. My problem is lack of enough capital to really get going. Should I use private lenders? Most don't want to part with their hard earned money to someone just getting started. Hard money lenders? The ones I have found that are willing to lend to a newbie investor want 20% down from you, want you to have 6 months in reserves, charge you over $150 for every draw and that is AFTER you meet their credit criteria. Bye Bye profit! I decided to try my hand at wholesaling. I began watching youtube after youtube video trying to figure it out. Seems too easy I thought. Why isn't everyone doing this? After watching Phil tell me to shoot offers all over town and Demitri telling me to make sure I had my buyers list I decided to give it a whirl. I had a website, an appetite to get rich, and a plan. Or so I thought. I made up some bandit signs ( my favorite form of advertising), hit the streets with my sons to help hang up the signs, and made up a google adwords campaign. Boom, before I even got home I had a call!! Wow, that was super fast. CRAP, now what do I do? I met the man in his home the very next day and it was a mess. He was already packing to move and had boxes EVERYWHERE. The ceiling was stained with roof leaks galore, the hardwoods looked like every dog in the neighborhood and peed on them, and it reeked of cigarette smoke. The kitchen walls and ceiling used to be white I think, but now were a dingy yellow. I walked through his addition on the back of the house and felt like I was going to fall downhill. The floor must have sloped 2 inches from one side to the next. He had installed a header from where the exterior wall used to be. No doubt this was load bearing and was bowing BADLY and the drywall was cracked. I saw all of this and thought everything in here is fixable, but how much does he want for this property? I had done the comps for his area and determined most houses sold for about 50- 60 K. His was a little larger due to his "addition" but was no where near as nice as the ones recently sold. When he told me 70K I just couldn't believe it. He also had two mortgages totally almost $68,000. He said that price is firm and there will be no negotiations. I told him I would crunch some numbers and got out of there. I was planning on offering 40K but thought to myself I would NEVER be able to assign that contract. My next call I got was for a really rundown little house by Churchill Downs. The comps in the area run about 45-70 K and I knew it was in a great location. He gave me the code to get in which eased my mind a little. I like being able to go in and look around without someone trying to sell me on the property. It was a total shell. But VERY fixable! I called him right away and shot him an offer for $7500 thinking he would counter offer. HE ACCEPTED! His asking price had been 12,000 and I thought I had no chance landing it for that. I got the sale agreement signed and thought I would place it on Craigslist just to see what would happen. Within an hour a man was at the house looking in the windows. I met him there and he wanted the house bad. Like start renovations next week bad. He had his GC with him and they were already drawing up a floor plan. I couldn't believe it! I had made $4500 profit without doing much but mow the lawn and pick up the garbage around the house. He took the assignment contract and I haven't been in touch with him since. That was a month ago. No response to phone calls or emails. Bummer. After that I've had offers to trade for a houseboat, I've had a guy want to buy it from Pakistan and wire me the money( sounds like a scam to me), and I've had someone want to look at it next month. What next? Do I take out a home equity loan and fix it up myself? Do I buy the house and let it sit until I have the funds to fix it up? Meanwhile the seller is patiently waiting for us to close. It's enough to give me an ulcer. People think that wholesaling is easy and that you don't earn your money. Pardon my french but I call BULLSHIT. There is definitely an art to it and you better have everything lined up just perfectly before you get going. I'm going to make this work and I will make a profit. It's just taking a little longer than my "plan" called for!

By Greg Hammond ( We Buy Houses Louisville/ Eagle Thirteen Properties LLC)

Top 5 Marketing tools for #RealEstate #investors by Greg Hammond of We Buy Houses Louisville/ Eagle Thirteen Properties

I have put together my top 5 tools for my real estate investment company. I use these because they are cost effective and WORK! Please feel free to post your favorite tools in the comments section.

5. Google Adwords  This is a must have to drive traffic to your website! Make sure you have the right keywords and enough of a budget to make sure you are seen. I started off with $10 daily and that was a great start. Most people use google search these days and if you don't already have traffic you will NEVER be seen without some advertising. Once connected with Google don't forget to list your business! It's free and very easy to sign up. Make sure you put "We Buy Houses" somewhere in your business name even if it's not the real name. For instance mine is "We Buy Houses Louisville/ Eagle Thirteen Properties".

4. Craigslist Yes a lot of investors are using Craigslist but for good reason. When I landed my first wholesale sale agreement I had no buyers list. Zero, zilch, nada. I posted a vague add with the words "Fixer Upper" and "Handyman Special" and BOOM, my email went crazy. Here I had local investors hungry for cheap real estate. I save every email I get and list them in my contacts. When I get another property I email it to all those investors!

3. Social Media You just never know how many people Facebook, Twitter, Google Plus, and Instagram will connect you to! Every deal I come across I post to all of these sites. You can link them all and make one post!

2. Bigger Pockets I was involved in investing for about 6 months before I tried this site. WOW was I missing out!! There are thousands of seasoned investors, hard money lenders,realtors, and mentors on this site for you to connect with!!! It's totally free and my main source for any real estate deals I have questions with!

And now without further ado my number one real estate marketing tool.....

1. Bandit signs I LOVE BANDIT SIGNS!! Yes you may feel a little embarrassed putting these out or feel like no one calls from them.. I got over my embarrassment after my phone started blowing UP!
You want them to be straight to the point and very clear. Place them in high traffic areas where you have seen distressed homes. My favorite places are around traffic lights, by home improvement stores, railroad crossings, and the bottom of expressway exit ramps. I spend most Friday nights placing these signs all over town. I do this because if you have code enforcement officials in your area, they probably won't last long during the week. Placing them out on Friday insures you get at least 3 days of visibility. You can buy stands but I have found if you place the stands in the grass, the mowing crews will throw them away. I like to use zip ties and hang them up as high as I can off street signs.

This concludes my list of my top 5 marketing tools. If you like them please share them with your friends! Thanks for viewing and again if you have different favorites please comment!

Derby House, We Buy Houses Louisville

Can't wait to get started on this diamond in the rough! And yes it's a little rough! If you would like to purchase a fixer upper in the Greater Louisville area like this one, check out www.louisvillehousingforsale.com