Comments on: How I Made A 113% Return In One Month With Real Estate http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/ How to Quit Your Job and Start Your Own Business Thu, 29 Jul 2010 18:11:56 +0000 hourly 1 http://wordpress.org/?v=3.0 By: The Secret To Working Less, Producing More, And Getting Rich http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/comment-page-1/#comment-448 The Secret To Working Less, Producing More, And Getting Rich Mon, 16 Mar 2009 19:42:27 +0000 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/#comment-448 [...] are the best modern examples of these machines? Owning and investing in businesses, real estate, websites which generate passive income, etc. Build these and you will be on your way producing far [...] [...] are the best modern examples of these machines? Owning and investing in businesses, real estate, websites which generate passive income, etc. Build these and you will be on your way producing far [...]

]]> By: How I (Almost) Accomplished My Passive Income Goal For 2008 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/comment-page-1/#comment-447 How I (Almost) Accomplished My Passive Income Goal For 2008 Tue, 06 Jan 2009 08:54:06 +0000 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/#comment-447 [...] The year started out with a bang and in January I closed on 2 rental properties (the process to buy them had been in the works before this). Things seemed to be going along fine - I had actually purchased 5 properties total in the last year and while some of them didn’t turn out so well, others did. [...] [...] The year started out with a bang and in January I closed on 2 rental properties (the process to buy them had been in the works before this). Things seemed to be going along fine – I had actually purchased 5 properties total in the last year and while some of them didn’t turn out so well, others did. [...]

]]> By: Brian Armstrong http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/comment-page-1/#comment-446 Brian Armstrong Mon, 15 Dec 2008 21:33:42 +0000 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/#comment-446 Hi Joe, Very little in my experience. Banks don't negotiate much they just take the highest/best offer. Don't worry about the asking price - it is practically meaningless. Do your own comps and decide what you think would make it a great deal - then offer it. Sometimes this number turns out to be more than the asking price - I still offer it. Hope that helps! Brian Hi Joe,

Very little in my experience. Banks don’t negotiate much they just take the highest/best offer. Don’t worry about the asking price – it is practically meaningless. Do your own comps and decide what you think would make it a great deal – then offer it. Sometimes this number turns out to be more than the asking price – I still offer it. Hope that helps!
Brian

]]> By: Joe Idar http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/comment-page-1/#comment-445 Joe Idar Sat, 13 Dec 2008 13:57:07 +0000 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/#comment-445 I picked up on your post just today, I hope you are still resonding to it. My question to you or to others is ; How much wiggle room is there in the asking price on some of these bank owned forclousrues. I picked up on your post just today, I hope you are still resonding to it. My question to you or to others is ; How much wiggle room is there in the asking price on some of these bank owned forclousrues.

]]> By: Brian Armstrong http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/comment-page-1/#comment-444 Brian Armstrong Mon, 27 Oct 2008 19:42:04 +0000 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/#comment-444 Yep buying the first one is hardest! See if you can find a good mentor (someone who is already wealthy from investing in real estate). That will help I think, it sure did for me! B Yep buying the first one is hardest! See if you can find a good mentor (someone who is already wealthy from investing in real estate). That will help I think, it sure did for me!
B

]]> By: Harper http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/comment-page-1/#comment-443 Harper Mon, 27 Oct 2008 19:35:40 +0000 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/#comment-443 I can't wait to start learning real estate. I just finished reading Rich dad Poor dad and that book help motivated me to learn about investing, cash flow, and real estate. Your website also motivates me too!!! Keep up the good work I can’t wait to start learning real estate. I just finished reading Rich dad Poor dad and that book help motivated me to learn about investing, cash flow, and real estate. Your website also motivates me too!!! Keep up the good work

]]> By: Brian Armstrong http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/comment-page-1/#comment-442 Brian Armstrong Thu, 06 Mar 2008 22:19:57 +0000 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/#comment-442 Hi Pawel, Yes the insurance is different while its under construction, I believe its called "construction insurance" or something to that effect. I don't really know the details on how it's different (I think properties that are under construction dont have all the locks/doors in place sometimes and can get the construction supplies stolen). But really I just did this because my mortgage broker told me to, and they took care of everything! I wouldn't have known to get it otherwise. Thanks for the kind words, Brian Hi Pawel,

Yes the insurance is different while its under construction, I believe its called “construction insurance” or something to that effect. I don’t really know the details on how it’s different (I think properties that are under construction dont have all the locks/doors in place sometimes and can get the construction supplies stolen). But really I just did this because my mortgage broker told me to, and they took care of everything! I wouldn’t have known to get it otherwise.

Thanks for the kind words,
Brian

]]> By: Pawel http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/comment-page-1/#comment-441 Pawel Thu, 06 Mar 2008 22:08:14 +0000 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/#comment-441 I just found your website the other day. As some one who is interested in real estate investment I found your articles on your real estate very striaght to the point and clear. Sharon up above is right about the amount of clutter these days. Your written word is, useful and very helpful soo thanks for that. You mention having insurance during the construction period. Will this be the same insurance you will have on your investment property while you own it? Also, what type of insurance did you purchase more specifically, in your first real estate deal, does it matter? Thanks, Pawel - Connecticut I just found your website the other day. As some one who is interested in real estate investment I found your articles on your real estate very striaght to the point and clear. Sharon up above is right about the amount of clutter these days. Your written word is, useful and very helpful soo thanks for that.

You mention having insurance during the construction period.
Will this be the same insurance you will have on your investment property while you own it?

Also, what type of insurance did you purchase more specifically, in your first real estate deal, does it matter?

Thanks,
Pawel – Connecticut

]]> By: Brian Armstrong http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/comment-page-1/#comment-440 Brian Armstrong Thu, 17 Jan 2008 16:56:58 +0000 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/#comment-440 I should also mention that you have insurance in case the house burns down, floods, etc while you are in the construction period. I should also mention that you have insurance in case the house burns down, floods, etc while you are in the construction period.

]]> By: Brian Armstrong http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/comment-page-1/#comment-439 Brian Armstrong Thu, 17 Jan 2008 16:56:00 +0000 http://www.startbreakingfree.com/200/how-i-made-a-113-return-in-one-month-with-real-estate/#comment-439 Hi Sharon, thanks for the kind words. The credit crunch has made it tougher to get loans, but it is also a good thing because with fewer people able to get loans home prices have dropped drastically. There is a good and bad side. My business was able to show enough income for me to get the loans, so the credit crunch actually helped. To answer your other question, i doubt I could have weathered a $25k miscalculation, although that is a LOT of money for a plumbing issue!! The real answer to your question is to (1) get an inspector to come look at the house and (2) get three contractors there to bid repairs BEFORE you ever purchase the house. After you get an offer accepted you have an option period to do these inspections. If you decide you don't like it you can walk away. You won't eliminate 100% of the risk, but both inspectors and contractors do that type of stuff for a living and should be able to eliminate most of the unknown costs. The inspector will test all the plumbing, electrical, roof, foundation, etc. Good luck! Brian Hi Sharon, thanks for the kind words. The credit crunch has made it tougher to get loans, but it is also a good thing because with fewer people able to get loans home prices have dropped drastically. There is a good and bad side. My business was able to show enough income for me to get the loans, so the credit crunch actually helped.

To answer your other question, i doubt I could have weathered a $25k miscalculation, although that is a LOT of money for a plumbing issue!! The real answer to your question is to (1) get an inspector to come look at the house and (2) get three contractors there to bid repairs BEFORE you ever purchase the house. After you get an offer accepted you have an option period to do these inspections. If you decide you don’t like it you can walk away. You won’t eliminate 100% of the risk, but both inspectors and contractors do that type of stuff for a living and should be able to eliminate most of the unknown costs. The inspector will test all the plumbing, electrical, roof, foundation, etc.

Good luck!
Brian

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