Green Building Makes Dollars and Sense
Tens millions of foreclosed homes are flooding the market. Now’s the time for investors with green hearts to earn big returns on energy wise house flipping!
With banks offering short term 6 month CD’s at 1% and 2 year CD’s at 2%, few investors are excited about current interest rates on savings accounts. Stock market risks and returns can also seem less than inviting. Why not increase your return while doing something important for workers and their families, local neighborhoods and the Planet!
The Perfect Storm with Green Clouds
Like many, I’d been disillusioned about real estate investing for about 20 years. I remember the phone call that took me out of the game. About 11:30 one evening I learned that a tennant’s water heater needed to be lit. On my way across town to light it, I remember saying, “That’s it, I’m done, let’s sell all this stuff.” And we did. It may have been a bad decision, maybe it was the best for raising a family…. It was what it was. But now the family is raised, grandbabies are wonderful, and last July I got hit in the head with an idea that was like the proverbial apple hitting Sir Issac Newton. Real Estate Investing for someone who could fix up properties had matured into the Opportunity of the Century. Complete with a “Perfect Storm” of factors that makes this the best time for Flipping Houses EVER. For the right person with the right mindset.
Consider this: 1. Inventory is high for what you’ll be buying. 2. Inventory is low for what you’ll be selling. 3. Interest Rates have never been lower and it looks like they’ll stay down for a while. 4. Craftsmen and contractors are hungry and will work reasonably. 5. There a tons of buyers. First time buyers abound and all the foreclosed owners would like to buy again (for the creative). 6. Rent rates are staying up. For the creative person, with an eye for design and customer service, it is indeed a Perfect Storm of opportunity.
I saw an additional Golden Opportunity that was close to my heart. Could I do Green Renovation on all these foreclosed homes and make them energy efficient and put a great product back on the market in the process of the flip? Taking blight, the eyesore of the neighborhood and turning it into the best house on the block, Now that sounded like fun! If I could make it work, I’d be getting to do what I love and getting paid for it. How great is that?
So I jumped in. Being 58, I decided I was too old to learn everything I needed to know in the School of Hard Knocks (my previous favorite method) so I enrolled in lot’s of Real Estate Investing Seminars and bought dozens of books and CD’s on the subject and called a Realtor friend and got started. Today we’ve successfully bought and renovated and sold over a dozen homes and they’re all Green Energy-Wise Renovations. And I made some of that other green stuff too. Yahoo!
But, you say, “To do that, don’t I need to be a contractor?” No actually you don’t. Many contractors get too wrapped up in the way they’ve been contracting for so many years. They don’t see the forest for the trees, and miss all kinds of opportunities One of my favorite teachers on the subject is Robyn Thompson, known as the “Queen of Rehab.” Her background was IBM accounting and waitress. She’s now flipped several hundred houses and retired to her Florida horse ranch. So if an accountant-waitress can successfully rehab houses, I say anyone with the right mindset can do it. More on that mindset in future posts.
The main skills that are needed to be an Energy-Wise House Flipper are: 1. Team Building, Assemble the expertise that you dont have. 2. Creativity, Think outside the box. 3. Learn Green Building and Whole House Energy Basics. I’ll be sharing that on this blog as well as providing a list of books and websites that will be helpful.
That’s it. Team building, Creativity, and learn Green Building. You can hire the rest. You can do it. Your community, your country and the planet needs someone to do this. The “Paint and Carpet” house flippers are doing nothing for our country or our neighborhoods. Come on in, the water’s fine. Energy-Wise House Flipping is an idea who’s time has come. In the past selling Green was difficult, but the current perfect storm has made green the color of choice, especially since you get to keep some of that other green.
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Online Tax Deeds Fresno County CA Auction Results Two weeks ago we reviewed Bid4Assets.com with an in depth look at Fresno County CA's Online Tax Deed Auction. Larry Weingarten, our resident tax deed expert, joined us fresh from participating in several other similar county sales. Tonight we'll be discussing the particulars of the bidding process, with screen shots of each step along the way, from viewing the properties in question to placing and tracking bids. Tune in at 6PM Pacific as we share our interesting experience with this kind of property acquisition. We'll talk about our bidding strategy and how we did, as well...Continue Reading!
Online Tax Liens Sales Bid4Assets Auction Fresno County estate, on site and online tax lien sales are one way shrewd investors are picking up properties to flip or hold as long term investments. With this in mind this week I'll be interviewing Larry Weingarten, our resident online tax sales expert. We'll be discussing his history with this type of acquisition including price, location and what kind of surprises to look out for along the way. We'll be taking an in depth look at properties available at Bid4Assets.com and how best to participate in local county on-line auctions. Click here to review properties available in...Continue Reading!
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