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R.E.I. Coaching Student Rehab: 2901 Violet Ave, Part 2

R.E.I. Coaching Student Rehab: 2901 Violet Ave, Part 2

The Ugly Duckling is Turning Into A Swan Feel free to leave comments below! Here’s the second installment of PJ’s mondo-Baltimore City rehab.  At just under a few weeks into the rehab you can see we have the place gutted, and framed.  You’ll also notice that we waterproofed the basement which as I understand, Baltimore City is requiring for all new rehabs whose scope includes a... [Read more]

This is HUGE.  New Fannie Investor Lending Rules

This is HUGE. New Fannie Investor Lending Rules

I just received this article from my student, Lisa.  For those of you investors who buy and hold, and who have not yet found a bank that portfolios its own loans – you will find the following article as incredibly good news. For those of you who don’t follow – let me explain.  Several months ago Fannie and Freddie made a rule that they would not underwrite or guarantee more than... [Read more]

Let The Bodies Hit The Floor

Let The Bodies Hit The Floor

My good buddy, Bob Norton and I were recently in Indianapolis in an attempt to evaluate the market for potential business.  I could go on and on about our plan for the area, but our plans are still so sketchy, I won’t bore you with the details now. During the trip we came a cross the house in the video below.  The story goes like this…  The 9500 sq ft mansion is located in one of Indy’s... [Read more]

More Bailout for Foreclosed Baltimore Deadbeats!

More Bailout for Foreclosed Baltimore Deadbeats!

I’m seriously contemplating not paying my mortgage for the next few months.  I mean, if our elected officials are willing to steal money in the form of taxes from those of us who responsibly pay our mortgage each month – and give to those who signed on the dotted line, knew the terms, knew what they were getting into – then for whatever reason decided not to pay – then why... [Read more]

This is SICKENING! Say No To Bailouts!

This is SICKENING! Say No To Bailouts!

Every investor, and every homeowner who responsibly pay their mortgage on-time (that’s 90% of ALL homeowners, by the way) should worry and should write the Congressman to tell them this is sickening.  If you care about the erosion of free markets, you must read below. ________   Citi backs foreclosure prevention plan Banking giant gives nod to legislation that would allow judges to alter mortgages... [Read more]

Reflections on 2008 – Looking ahead to 2009

Reflections on 2008 – Looking ahead to 2009

Holy cow!  Can you believe that 2008 is almost over.  It seems like just yesterday, that I was writing down my goals for a year that is about to pas. We all know it was a crazy year economically and politically.  I could go on forever about the markets, the election, and the bailouts – but I’d rather leave all that to the pundits. First and foremost, I’d like to wish you all a... [Read more]

Student Rehab Story, 5204 Wesley Rd – Final

Student Rehab Story, 5204 Wesley Rd – Final

C’mon!  Bring it on!  I’ve got to hear your comments on this one.  My student Joann is psyched.  I’m psyched – our banker is foaming at the mouth, our contractor wet himself – we’re just damn giddy over 5204 Wesley Ave.  The results are beyond our wildest dreams.  Now pray to the RE gods for a buyer with credit. Talk about a trash-formation, uh….transformation! ... [Read more]

Rehab Story – 6140 Sinbad Place, Week 8

Rehab Story – 6140 Sinbad Place, Week 8

Well, its done!  I really planned to do more updates between start and finish, but quite frankly, this was a no-brainer of a rehab, and there really wasn’t much of a story to tell.  I do think however that the final product far exceeded my expectations. When you do a rehab you always walk a fine line (especially in this market) of doing too much.  You have to constantly ask yourself, will... [Read more]

Heeeeeeeere’s Your New Landlord!

Heeeeeeeere’s Your New Landlord!

This is just crazy.  Have you heard this story about Ed McMahon being in foreclosure?  Have you also heard that Donald Trump swooped in at the last moment to rescue Ed McMahon from foreclosure? The big question is, how does a man who has made as much money as Ed McMahon wind up in foreclosure?  Poor money management?  Greed?  Lifestyle out of control?  Seems to me that even at 85 years of age,... [Read more]

More Good News from The Sun?

More Good News from The Sun?

What, it can’t be.  The Baltimore Sun with a positive story about the housing market?  Its true.  I know, you’re thinking it must be a misprint, but I’m telling you, I read it with my own two eyes.  You’ve got to look pretty hard for good news in the main stream media, especially when it comes to the housing market, but how about our little Baltimore rag with this great... [Read more]