2008 July | www.MinnesotaInvestors.com

Flip that House TLC TV show

Sunday, July 27th, 2008

On my local cable TV network I saw that flip that house was on channel TLC from 2:30 to 7pm tonight. That’s 9 shows in a row. I think it started before 2:30, that’s just when I tuned in. This show often will show first time flippers who purchase their first house. They come up with a budget and often go over on money and deadlines. You will see many personal arguments on this show among partners. Their are husband/wife partners and business partners often as two people. These partners quickly get over their heads, and are in for far more work than they anticipated. The show will show step by step as they put each part of the house together and as they make the tough decisions along the way. What I do like about this show is it shows a lot of different personalities, skill levels, and different parts of the country. I find that I learn about the business from different angles as everyone has a different approach and the approach changes with different prices points, hot and cold markets, experience levels and what part of the country it’s in. I think some people put too much into the property, some people take too long to get the property repaired. I do think most people on the show think they have the business figured out, but it takes years to get very efficient at the process. Just because someone knows how to install cabinets, floors, roofs, siding, etc. doesn’t mean they understand the full scope of the entire business. Timelines, holding costs, closing costs, bank financing, showings are all a very big part of the business. Just knowing how to repair the house is just a small part of the business. You can easily lack in many areas and not be well balanced and just plain lose money.

For any of those looking to get into the rehab business, you should check out some other postings on this blog that talk about various rehab tv shows, and dvd collections that you can buy of these tv shows so that you can watch them on your own time. There is so much available out there to learn from with this particular topic, and most of all unlimited ways to make mistakes. Stay tuned to this blog for reviews on similar shows and channels that show this DIY type stuff 24 hours per day sometimes.

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In the Money: CNN TV Show

Sunday, July 27th, 2008

This show discusses the economy">economy and a wide array of topics such as oil, money, and real estate. This show is on at 2pm central time in my market on CNN. Today’s topics on the show were about fighting foreclosure. This show is one hour long. The show focuses on a panel discussion on news issues and business as described by my local cable company guide. The show talks about the current state of the market. They showed neighborhoods in Boston that were all boarded up, which surprised me. They are offering many programs in the city to incentivise local people to rehab properties and then live in them or rent them out. Other topics included in this show are an increase in minimum wage nationally. They talked briefly about how the rich are getting richer and how much of every dollar in the economy">economy they own. They then got into how little of that amount was paid in taxes. As you’ll notice this show maybe covers 25 stories in 60 minutes, which is a great broad overview of the whole U.S. economy in this country. They will bring in guest speakers on the panel on the various topics to get an expert’s opinion. The show brought up inflation and the lack of spending power over the last 8 years for the average employee. At this moment they are talking about how 20 states are in trouble with their budget, and how the housing market has a big part to do with that. I am going to go finish the rest of the show, I may write future topics on this show.

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Lease Options with Wendy Patton Audio CD

Sunday, July 27th, 2008

I am listening to the Wendy Patton Lease Option CD right now that I was given at my recent 2008 Summer Sizzler event put on by MNREIA where Wendy Patton was a speaker. The name of the CD is Wendy’s Patton’s “Working with Realtors®” Get Realtors® begging you to buy their listings. Subtitle is Creative Seller Financing from the Realtor® Perspective. This CD is has Wendy Patton, Gary Keller & David Jenks. Control without Ownership Series. You may remember Gary Keller as the guy who started Keller Williams. You may remember Gary and David Jenks as the authors of the Millionaire Agent, which is a great book for agents. This CD is Copyright 2008 Limitless Options, Inc. They all give a great overview of lease options, land contracts, and Contract for deed and how agents can use them to help sellers sell in a buyers or sellers market. This CD is 14 tracks long and time encoded for each track. I like that all 3 of them actually are very interactive on the entire CD. It’s not just Wendy talking the whole time, it’s a lot of good communication. I am not sure where this CD is for sale, you may have to contact Wendy Patton for this CD.

Another great thing about this CD is that many people hear these audio series aimed at only real estate investors. This is aimed with a creative aspect, but for agents, and their are thousands and thousands of agents out there that could sure use help these days with creative ways to sell real estate for sellers. It seems everyone on the call was not worried about the due-on-sale clause based on their experiences. They bring a few other investors onto the call.

This CD really covers a lot. They bring on another investors to breifly talk about sellers upside down, short sales, and he also gives his take on lease options, wraps arounds, etc. Much of the end of the CD is about short sales, which is timely for this market right now. They briefly talk about bankruptcy. This is a great CD that covers a lot of topics

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Archive for July, 2008

Flip that House TLC TV show

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In the Money: CNN TV Show

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Lease Options with Wendy Patton Audio CD