Flip #13 Revealed!

Hey guys and gals! I'm back to share some fun stuff...

So, you know we've been putting in offers lately, right? Well, yesterday we heard the fantastic news that one of our offers was accepted! Check out Flip #13...booyah!

This one should be a breeze...doesn't need too much work AND it's located in our favorite "flipping" zip code! I wish they were all this fabulous.

Pinebough (Flip #11) is moving along nicely. I don't have any recent pics but I'll try to snag some next time I'm there. We still have a few weeks of renovations left on that one but should have it listed by early summer...so yay!

Brookline (Flip #12) is still waiting to close but we should be going to sign papers on it in the next few days. Demo will start next week and then it will be "off to the races"!

Great things are happening. It makes me feel encouraged in our commitment and motivated to keep up our momentum. I read something today..."You don't have to know the entire way, you only need to know where you want to reach, and start your journey. Go as far as you can see, and when you get there, you will be able to see further."...

Just Do SOMETHING!

A few years back my partner-in-crime and I signed up for a "Rich Dad, Poor Dad" conference planning to learn a bit about business management (David was working on growing his metal art & fabrication business - he's an amazing welder, fabricator, and art sculptor in addition to all of his other talents!). Surprisingly, we learned very little about business management (man, were we frustrated, ha!) but a whole lot about real estate investing. We always had an interest in investing (so not all was lost!) but really never knew where to start. At this same conference were two wholesalers out of Pensacola who happened to close a deal with a $40,000 paycheck while we were there. Obviously, this intrigued us - so we sat at their table and asked them as many questions as possible pertaining to how they had become so successful. One of their main points was to join a real estate investors association for education and networking opportunities...

After the conference weekend came to a close, we started researching for a local association we could be a part of...Low and behold, we discovered Port City Real Estate Investors Association! We started going to the meetings and met the association Founder who just so happened to have started a mentoring program. This was just what we needed! We signed up with him and jumped right in with both feet.

Fast forward to now...We are about to purchase our 12th flip and are working towards flipping 5 properties at one time. If someone had told us at that conference we would both be self-employed full-time real estate investors in just a few years, I would have laughed and thought they were crazy! I'm forever grateful to those wholesalers who told us where to go to find active investors in our area who could steer us in the right direction. They helped change my life!

All of this to say, I feel an obligation to "pay it forward" to someone who might need some direction. Research for a local REIA group you could be a part of to learn more about investing...AND, if you happen to be in my city, check out Port City REIA! See below for a few pics from the REIA meeting we actually had last night. David and I were on an open forum panel where we (more so Dave - public speaking terrifies me! I DID showcase our new "Phoenix Avenue LLC" t-shirts though, ha!) had the opportunity to talk about our flipping business and where we see the market heading. Afterwards, we met some great folks and got a few leads on some potential deals...See why networking is so important??

So get involved. Get moving. Just do SOMETHING. Make active steps to change your future. Trust me, you won't regret it!

PS - I "borrowed" these pics from Port City REIA's facebook page...check 'em out!

Great turnout!

Dave sharing his thoughts...

Notice my new marketing gear? PA, LLC t-shirt, baby!

Networking time!

More networking...

Truck Magnet Marketing...

Remember a few posts back when I mentioned amping up our marketing with t-shirts, iPhone covers, new business cards, and truck magnets? Well, our efforts have paid off! Lemme back up and fill you in on HOW...

On the day we were staging Cottage Grove (#10) we loaded up in our truck and headed off to the local Uhaul to rent a truck for the day. As we were at the counter paying, a man came in who had noticed our "We Buy Houses" truck magnets and asked if we were still buying homes. He mentioned a property he needed to sell. We exchanged cards and scheduled a time to meet him there.

After meeting at the property, David and I came up with repair numbers, ARV (after repair value), took pictures, and told the seller we'd be in touch. A lot of negotiation and comp (comparable sales) research later, we were able to agree on a price we could all live with. Yesterday we locked up the property by signing an Agreement to Purchase contract and are planning on closing in the next 2 weeks! Our lenders were happy due to the fact that we are rolling their self directed IRA right into another investment property, the seller was happy because he can finally walk away from the property, and we are happy because we stand to make 5 figures off this deal!

All of this has reminded us how important it is to continuously market for deals even though we usually buy from a wholesaler who has a steady stream of inventory...Our $15.00 truck magnet has MORE than paid for itself ;) We are driving all over the city on a daily basis anyway so why not do a little marketing while we are at it??

Here is a picture of the property, now Flip #12...take a good look because you won't recognize it when we're done!

Say hello to Flip #12!

Closings, Closings, & More Closings!

Hey y'all, I got news to share! We closed on The Beauty on May 1st!!! I can't tell you how happy we are to no longer have this property - and get all that capital back out to reinvest. What a relief to know our oldest purchase, largest renovation, and most expensive property to date off is now off our back. Whew! Feels good! Sooooo adios, Demouy! It's been real!

Adios old friend!

More great news... Deerwood (#9) is now under contract and will close May 9th!

Even MORE great news...Cottage Grove (#10) sat on the market a mere 7 days before receiving multiple offers and went under contract at $7,500 over list price! We are supposed to close May 20th if all goes as planned.

So, all 3 of our properties will close this month. I never thought I'd be so happy to see May in all my life! ;) This will allow us to set up a 6 month money reserve for living expenses as well as throw some money at our credit card and loan debt. It's been a long time coming! We are finally at the point David and I have worked toward for the past 3 years. We are excited to be able to start paying OFF debt instead of just paying it ever-so-slowly DOWN. Once this is happens, it will allow us to start actively growing a home fund...The rental we have lived in for 2 years is tiny (700 sf), needs so much work and is in an area of town that we really want to get out of. It has been tempting to go try for a mortgage so we can live in a "home" again - but every time we talk about it, David and I realize we need to stick to our plan. We will buy a home when we have the cash in hand. We are working on staying focused..."live like no one else now so we can live like no one else later".

Here's a few pics of finished and staged Deerwood and Cottage Grove:

Deerwood (#9)...

Cottage Grove (#10)...

To see the complete "After" albums, go to our Facebook page by clicking here!

And THIS gal is Flip #11! We are purchasing her the first of next week and will start renovations immediately! We are hoping to buy 4 more flips over the next few weeks and REALLY start busting them out. Big goals require massive action! Here we goooo!