Property Acquisition

Green Diamonds in the Rough

GreenEarthEquities specializes in transforming the scariest house on the block into one of the most beautifully energy efficient homes in the city!  Utilizing our 30 point Energy, Wow and Done Packages, GEE’s energy wise renovated properties turn a profit as investments while providing wonderful homes and increasing neighborhood values.

Pictured above is the before picture of 1810 Norris Drive E. Fresno, CA 93703.  Click here for a short promo-introduction video on this property.


Wholesalers Can Save Time and Money

We are in escrow to purchase our first property from a “Wholesaler.”    I didn’t see it coming, but I’m glad I got a call a couple of weeks ago from Sam Okenyi & his partner, Chris Williamsof TriForce.   They were familiar with our Green Renovation and Classy Remodeling work from our job sign and our CraigsList ads and knew that we would be the most likely buyer on their list if they could just get us to take a look at it. (See video of my interview with Sam and Chris)They had found a real mess of a house, un-permitted additions, everything worn out, and a previous attempt at a duplex conversion and had it under contract with a few days left to find the buyer.

Fortunately I had just jumped back into the market after taking a break to evaluate my first 10 transactions and make any adjustments to the mission that might be needed.   Here’s what I had found:

1.  All 10 jobs were complete and sold or in lease or lease option status.

2.  We made money on all of them,  from $2,000 to $28,000 each.

3.  We always sold for about $20K over the rest of the neighborhood because of the value of our renovations

4.  Appraisals came in OK except for the last one, which we are providing details the appraiser missed.

5.  2008 – 2009 was a lot different than the beginning of 2010.   A contributor to this was the $8K tax credit which stimulated all the players and made good deals harder to find.    The “Crazy Time” provided a good opportunity for me to slow down and finish up all projects and evaluate.

6.  Time to get back in the market.   I made 5 offers in August, one still has life in it.    The “retail” market has returned to acceptable levels where some good deals, (not killer deals) are available.   In the interim, I had investigated the courthouse steps, (too much work for my taste), direct mail, (lots of sellers wanting to sell, but once again, not my style)   So I was ripe for a wholesale offer.

The great thing about buying from a wholesaler if they have secured a really good deal and provided me with a good clear package is the amount of time it saves me.    Sam had emailed me a clear package with his analysis and the comps.   So when I met him on the job, I was already educated enough on the area to say, “Let’s do it!”

I made it clear to Sam and Chris what we are looking for,  Real Ugly Houses.    Guess what?  Now that they know that,  and know that we are real buyers, they will pull out all stops and really start combing the neighborhoods for us.   It’s a Win – Win.    I’ve added a marketing department to my team.   And I dont have to pay them unless they produce.    What a country!

Wholesalers are probably like Teachers (I used to be one)    The good ones are way under paid and the bad ones are over paid.   What makes a good wholesaler that is worth the spread that they earn, between what they secure the property for, and what they sell it to me for?     These 3 things are important

1.  They aren’t trying to get rich on one job.    (They know the buyer has to make a profit, or they wont come back for seconds)

2.  They communicate clearly.   They know what I want and make a clear presentation

3.  They know how to do same day closings and work with an experienced escrow person.

If all that’s in place, a good wholesaler can save you a lot of time.   If you’re interested, you can call Sam at 559 394 9505 or Chris at 559 593 2987.    G.E.A.R. members can check out our 3 part video interview with Sam and Mat from Triforce by clicking here.


Additional Property Acquisition Information

Click a link below to view post

Share this:
Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter

Green Remodel: 12 Green Street Bridgton ME

New Site For Green Earth Equities

Green Remodel 12 Green Street Bridgton ME This Tuesday we'll share a quick update on our complete green transformation of 198 Pond Rd. Bridgton ME and introduce our newest project in the same town located at 12 Green Street. Having received our complete Energy, WOW and Done packages, 198 Pond will definitely be a energy wise flip as soon as the record breaking snows melt. While a much smaller project in scope, 12 Green Street has both resale and rent potential. Join us tomorrow hear our thoughts on the matter and share your own.  Either way this project is scheduled to take half the...Continue Reading!

Are Multi-Family Units Good Investments?

New Site For Green Earth Equities

Multi-Family Units Are They Good Investments? In past webinars we've taken a look at small multi-family properties with an eye for green investing.  What we're finding is that while the current market can make energy wise flipping somewhat problematic, long term buy and hold strategies can still produce attractive cash flow. Tonight we'll be reviewing several Fresno CA area properties currently available.  I invite you to join the discussion and if you see something you like make an offer as I'm planning to do. As we look at photos, property information and ROI estimates some of the factors we'll be considering include: What's the best...Continue Reading!

Cold Weather Remodeling: 198 Pond Rd ME Update

New Site For Green Earth Equities

Cold Weather Remodeling 198 Pond Rd Bridgton ME Update Hi PlanetSavers, We're still in the middle of our continuing series featuring our joint venture project located at 198 Pond Rd Bridgton ME. During tonight's update we'll be discussing some or all the following: The second blower door test: What's been done? How much it helped? What's next? Infrared scans showing the leaks. Status of roof, siding, drywall, cabinet, flooring and appliance orders. Dodging the weather. How we work in winter in Maine. Efficiency Maine. Loan or Rebate? Other properties we're looking at in and around Bridgton Investment philosophy in various stages of economic recovery. Why we're bullish on this area. We're...Continue Reading!

198 Pond Bridgton Rd ME: Update

New Site For Green Earth Equities

Real Estate Update 198 Pond Rd. Bridgton, ME (Note: Last week we looked at other Bridgton properties that will produce good cash flow. One was already under contract with another buyer. I offered on one and one more is still up in the air.   Let me know if you want to partner on one of them if we are successful in a purchase.) Tonight we'll be discussing the progress on the 198 Pond Rd project in Bridgton Maine. We've made several decisions since our last update and we'll be explaining our ideas regarding: Windows:  Double Pane, Triple Pane or Restoration plus Indows? Backup Heating:   Propane,...Continue Reading!

Fantastic Investments In Bridgton ME

New Site For Green Earth Equities

Fantastic Investments Real Estate Bridgton ME Greetings PlanetSavers, I'm on the road today from Bridgton ME to Round Hill VA. It was great spending a few days with Tom Smith, our resident green building and investment expert in that neck of the woods. After inspecting our great 198 Pond Road property and coming energy wise subdivision, we looked at a few other near by investment opportunities. Tonight we'll be utilizing the team from CA to ME to share what I think are some of the best deals in the nation.  For several reasons real estate in this area is still ripe for the pickings if...Continue Reading!

Buy, Hold and Sell: Green Residential Investing

New Site For Green Earth Equities

Buy, Hold and Sell Green Residential Investing Tonight we'll be examining two more Fresno CA residential properties, both of which one of our GEE investor's just received offer acceptance notices on. Navigating the rising real estate market we're always on the look out for properties, from heavy remodels to rent ready, offering good long term returns. These two homes are fairly Phase 1 rent ready once they've received thorough shell seal and additional attic insulation.  Duct seal is also an option when the loading order makes sense One of the homes is in an older Fresno neighborhood. A no fills 3 bedroom 2 bath...Continue Reading!

Rising Residential Market Examples

New Site For Green Earth Equities

Market Examples Rising Residential Property Comparison Tonight we'll be examining some residential properties currently being offered in Fresno CA that we've selected for a return investor looking to take advantage of good rental ROI's in the face of a rising real estate market. We're finding that even with low inventory and strong interest by investors, there are still deals to be found once you've answered some preliminary questions. Some discussion points will be: When to offer full asking vs above or below? How much do niche location issues matter such as busy streets and airport flight paths? Advantages and disadvantages of buying lower and doing the work...Continue Reading!

Niche Condos Part 2: Return On Investment

New Site For Green Earth Equities

Niche Condos Part 2 Return On Investment (ROI) Last week we reviewed 5 "Niche Condos" that seemed to offer better initial Return On Investment (ROI) than some in less than desirable locations. This week we'll do a quick review and then take an in depth look at Property Evaluation Schedules for each. These will include: Acquisition prices Property comps Estimated Phase 1 remodel costs Marketing and managing expense Flipping vs Renting ROI We'll discuss the various properties and as always provide both the Property Comparison Spreadsheet and Individual Property Evaluation Schedules to attendees.  We'll even be offering opportunities for those interested to invest in any of the condos being reviewed. Hope...Continue Reading!

Niche Condos: Special Value Part 1

New Site For Green Earth Equities

Niche Condos Special Value? Part 1 With Dave Robinson River Cruising in Portugal we're taking the opportunity to continue our series on the investment condo market. A few weeks ago we found low cost condos seemed to offer a good initial Return On Investment (ROI) but the locations seem less than desirable. On the other side of the equation, condos in nice areas of town offer far less ROI's when factoring in higher purchase prices and Home Owner Association (HOA) fees. A little more digging and we discovered 5 condos in Fresno CA that have "niche market appeal." Some are located in better pockets of...Continue Reading!

Condos: Overlooked Cash Cows?

New Site For Green Earth Equities

Condos... Overlooked Cash Cows? Last week we took an in depth look at several previously owned residential investments.  In working through the process we noted that at the moment Condos in many cases seem to be offering better than 100:1 returns as rentals! Previously not on our radar, GEE's giving these low cost buy in options a closer look.  Here's some of our findings: While investors are quick to pick up on single and even multi-family residences, condos may seem hardly worth the effort and therefore are remaining on MLS for extended periods. Owners often remodel these units for quicker turn around, thereby decreasing the...Continue Reading!


Copyright © 2013 New Site For Green Earth Equities     Log in     Design by Real Estate Tomato     Powered by Tomato Real Estate Blogs

Powered by WishList Member - Membership Software