In the trenches ~ June 2009…

I’ve been wanting new music for quite a while now. As much time as I spend in the car the 6 CDs that are in place have got to go. I love Annie Lennox so I thought I’d share her with you. If you click on the image you can go to Amazon and get a copy.

Graffiti and filth and warfare oh my…

Some of the homes that I’ve previewed today are simply disgusting and a damn shame. I walked into a house on 64th in Oakland and it was terrible. Graffiti on all the walls, windows broken into, drug paraphernalia thrown around, the smell of piss eminating from every corner…it’s these kinds of houses that I see in Oakland that have opportunity written all over them. But as an investor you’ve gotta ask yourself what the ROI is? Most investors want to recoup 10% and anything over is gravy.  I see great homes in crime ridden neighborhoods. The potential is definitely there but you’ve either gotta be a foot solidier or a numbers girl and hire a good crew at cost to reap a good profit. Sell it as a FSBO or through a realtor for maximum profit or flip it to another investor .

Women building wealth…

I was having lunch with Ms. Terry Person La Mediterranee on College and she just told me that she’s stopped her hard money lending and is now investing herself.  She chose to go out of state to Denver because she realized that the 3 pillars of any good investment location. Industry, population growth and culture/education. She found a house sight unseen for $80K, hired contractors and threw $30K into the property. She had calculated 4 months of holding costs and is now in contract for $160K.

Hannah Fleigel, investor/credit restoration specialist,  my latest interviewee for WBWTR is buying investment property in Vallejo and Sacramento with her business partner Caroline. Her goal is to own 12 properties outright so she can retire. Average cost of a home is somewhere between $40-$50K. She has 8 in her stable with 2 paid off! What an inspiration.

Tara Nicolle Nelson is putting her money in the higher end market, remodeling, upgrading and flipping for a bigger profit.  A realtor in my office is out there in Antioch buying up property for $40-$50K a pop. A little paint, new carpet some landscaping and you’ve got a solid cash flow property. Another women who’s in the mortgage business is investing in Costa Rica. It doesn’t matter what market you’re looking at women are building wealth.

What’s stopping you? For me personal circumstance is slowing me down. In other words I’m dealing with personal shit but its just slowed things down. I’m networking with other women in the business and we’re coming together, helping each other succeed. Carole Rodoni said I should build a woman’s LLC and that is what I am loosely starting.  I have a partner in the Pittsburg/Antioch area that will find the property and a potential investor in the Marin area. I’ll facilitate both ends and coordinate contractor activities. Because I want a win/win situation for all involved we’ll split profits down the line. Curious if anyone else out there is doing the same.

Target date is the end of July to have the first property under contract. 6 weeks and counting.