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Thursday, June 28, 2007

Motivation

I find that any business you are involved with takes motivation. Some of us are naturally motivated, and others need continuous reminders to keep us on track.

I like quotes and find some of them very helpful, reminding me what I need to do to get to where I want to be.

Remember: Only you can create your life. Make it a great one!

Here is one for today: "The world you perceive is the world you will create, and the world you create is only limited by your imagination and conviction." Jim Britt

Thought I disappeared?

Thought I disappeared?


OK, I'm here. I was not in the habit of making myself write blogs, but I'm working on it.I plan on continuing to give you updates of real estate deals I'm working on, and sharing info that will help you be a more successful investor.Right now I have a few projects going.

#1. I have a single family home, that I rented to my Mom for the last few years. I am doing some fix up and will put it on the market soon. This will most likely be a retail sale, unless I find a good lease option opportunity. I put cash into the home, for rehab, when my Mom moved it, so I would like to get it back, without refinancing. (My Mom is now in a nice nursing home nearby. She has Alzheimers, and I could no longer care for her).


#2. I just bought a single family home in a good stable area, with a partner. This home is a total gut rehab. I mean-it needs EVERYTHING. We are in the process of getting bids and deciding if we want to do the rehab, or sell it to another investor, so they can finish the job. I will take some pictures soon to give you an idea what kind of ugly houses we will work on.


#3. I just bought a home that the exterior was very ugly. It had old metal siding that had been painted dark grey, and had faded. Inside, some window openings were covered with drywall, but on the outside they had covered the windows with wood and painted it the color of the siding. It looked like the back of the house had been boarded up. This one is in the process of getting a new siding job. The interior needs some cosmetics, but nothing too serious. I am renting this one to my daughter. A great starter home. I purchased it for $64,000. There is nothing really livable in that area for that price. Just by putting on the siding ($5,000), and a few more things, it should already be worth about $90,000. If I continue to do small improvements to the property, it should be worth about $110,000 in a year or so.
Enough for now. I will keep you updated and hopefully get some pictures on here very soon,

To your investing success,

Lesley