Recently we bought a home to do an Energy Wise Renovation in one of our targeted neighborhoods. Kind of spotty actually, some really nice blocks and then some not so nice areas mixed in. This neighborhood is in the "Valley of Decision." The burst of energy it had when it was new 45 years ago is gone. Everything is worn out and being replaced, the roof, the appliances, the air conditioner. The first owners have raised their kids and moved on. More renters have moved in. Now the neighborhood is in the Valley of Decision. It's either going...Continue Reading!
Today I had lunch with my long time friend, Ron Roberts, at Boston Market. About 5 months ago I had convinced Ron that it was a perfect time to start buying and fixing houses. I had dragged him to one investing seminar and that's all it took. We're both contractors who had been away from real estate investing for many years, but it didn't take much for each of us to see what a great opportunity real estate in this economy was for an entrepeurial, creative type person who knew their way around home improvements and remodeling. That describes us,...Continue Reading!
One of my favorite real estate trainers is Bill Barnett. I attended one of his three day trainings and he and his wife, Kris put on an excellent event. Bill's background is finance so he's very good with the numbers, but his biggest strength is his ability to tell a story to get his point across. Us humans learn best with stories. This carries on in his book, Are You Dumb Enough To Be Rich?, and I read it straight thru. One chapter that is worth it's weight in gold is the one on soliciting private money for investment. Bill outlines...Continue Reading!
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...Continue Reading!
What is an Energy-Wise Renovation anyway? To be an Energy-Wise Renovation, which is the main focus of this blog, the renovator must take the "whole house approach." At a minimum, that will include: Dual Pane Low E2 Windows, Big insulation in attic and walls, R38 to 55 depending on your climate zone, Attention to "thermal bypasses," Shell sealing of the floor and attic, New HVAC system, New engineered and sealed duct system, a ventilation scheme, because the house will now be tight enough to need one, and an air quality and CO test to ensure safety. The best jobs...Continue Reading!