If any of you watch the news then you have probably seen the devastation that hit Pensacola, FL a few days ago. If you have ever seen devastation like this in person I think you will probably agree that pictures can’t really tell the story. This is the second time I have seen this kind of damage in Pensacola, the last time was Hurricane Ivan and I hoped to never see that again. Although this was smaller in scale, it is still a big hit to the community and an even larger hit to those that were affected. Houses are completely gone and there are still a lot of people in the path of the tornado without power. So, I will open this blog post with a challenge. If you are in a position to help any of those affected by the tornado please do so in any way you can. It could be as simple as lighting a candle and praying for those who are still without a home.
Ok, back to the reason you are reading. What did I accomplish this week? I’ll start out with some numbers to get y’all excited and to get my progress down on paper to keep me driving toward the end of year goals I set. After Monday of next week, we will have purchased 5 houses in the last 10 days. That is insane by my previous standards but it is exactly what I had in mind this year. One of those houses is the flip in Mobile which I wrote about in a previous blog post, two were foreclosure houses that came from auctions, one is the Filled in Pool house which finally closed Thursday (I have written about that before too), and the closing on Monday is the Maze House which I have written a little bit about before. So, 2 of these 5 houses were off the MLS and had been under contract for some time and it just so happened that everything closed at once. Obviously, this is going to create a logistical problem for my whole team and because of that, I may consider selling one or two of these properties to another investor.
The marketing I sent out over the last few weeks has started to pay dividends as well. We have been getting a lot of calls each day and it is only increasing now. My lead manager has been getting a lot better on the phone and we have a few handfuls of leads that may very well turn into deals for us. I have been on a few appointments already, have a promising appointment today, and 2 more this coming week. I would like to say I will be able to put them all under contract but I don’t know if some of the homeowners are that motivated. You will have to wait and see next week. I have met a lot of great people while going on these appointments who each have unique stories as to why they want to sell their homes. For example, I got a chance to spend some time with an 82-year-old Army Vet last week who just didn’t want to live in his house anymore. He can’t move around that well and doesn’t like waking up in an empty house anymore. If he could take his two cats to a retirement home with him he would already be there.
The Auction House is in its last week of renovation and should be on the market next week. The house looks much better, no crazy artwork on the wall anymore, the tile is in, the cabinets have been refinished, the can and pendant lights are in the kitchen and the hardwood is going in on Monday. Once the countertops are installed it will be outside work, final touch ups, and staging to get that thing on the market. The Filled in Pool house demo will begin this coming week and we will get moving quickly on that one. The renovation estimate has been completed for a long time since we were just waiting on the IRS right of redemption period to end in order to close. I am still waiting on the Mobile house renovation estimate from the contractors. I foresee this one being a big learning experience since it is long distance and I am really relying on other people to help me get that one done. I will write a few more full posts on the Mobile house in the future because I think it will be a challenging project to complete virtually. However, if it is successful it will really give me the confidence to be able to do this in any market and at that point, the possibilities are endless.
I brought on two new investors this week as well. The only way that I can continue to operate at the level I am is with other people’s support and investment. These two investors allowed Blackjack Real Estate to close on the Maze House Monday and without them, I’m not sure it would have been possible. It truly is a win-win as we are able to continue adding on projects and the investors are seeing a great return with a secure backing of their investment. I love being able to help out friends and family with their financial future while still being able to build and scale my business. So, if you know anyone who wants to make a good return on their money please pass on my information and I would be glad to speak to them about what I can do. I would love to add another project or two in the next month as we start wrapping up the ones we are doing now. Also, if you aren’t investing in real estate in your IRA or 401k I recommend taking a look at the benefits and possibilities. I wrote a post about that a few weeks ago and will link to it here if you are interested.
Lastly, Bigger Pockets interviewed me for their Podcast a few weeks ago and it went live this week. I have been bombarded with emails, messages, and website traffic which are all good things but have been keeping me very busy trying to respond to everyone. In fact, there was so much traffic the day it was released that my website server had trouble keeping up with it and went down for a short period. If any of you want to listen to the podcast you can hear it on iTunes here or watch it on YouTube here. I had a great time doing it and I’m sure you all know by now I love talking about anything real estate. I hope you get something out of it.
Thanks for reading and if you haven’t already, please like my business Facebook page so you can see updates and photos of all the projects we are doing. If you know anyone who would like to read the blog feel free to share it.