There is an ad on craigslist for a company renting you pre-foreclosure houses. DON’T FALL FOR IT. This is totally illegal. What they are doing is getting the deed from an upside down homeowner and then renting the houses out knowing that the banks are taking almost one year to even start the foreclosure process. This is called rent skimming, They need to be reported to the district atty.

Am going to have a private auction and sell it as is. Stay tuned for details.

New crap! Now we need an energy audit. Always something with them. Have no idea what this is but i have to pay someone to do it. Then i hope it won’t translate into something else that has to be changed. It has been a month and i still don’t have my permit.

New Tax Credits

100% Federal Financing Offers

Short-Sale Packages

Independent Home Appraisers

Flipping Homes is Riskier

http://www.walletpop.com/top5/new-rules-of-real-estate?icid=main|htmlws-sb|dl3|link2|http%3A%2F%2Fwww.walletpop.com%2Ftop5%2Fnew-rules-of-real-estate

Govt has 8k and ca. offers another 15k.http://www.smartmoney.com/personal-finance/taxes/a-not-so-tricky-split-the-homebuyer-tax-credit/

It never ends with this code crap. Still don’t have my permit. Every time they add something new. I think i am done with handymen– going to upgrade to contractors only. Can’t even call for a draw until we get the permit. The lender has 30k of my money that i can’t get to.

Found out that once you add bars to the windows, you now have to upgrade the windows in the bedrooms to present day code. So now i have to order 4 new windows.

Closing on a new one. Working on how to switch names in the middle of escrow so you can flip. Lots  of aggravation but i think i did it. This one is going to be sold at auction– can’t deal with more code.  Put up all cash rather than deal with hard money lender crap.

This is a trial and error method because things are so different this time. Once i get it right, it will be cookie cutter.

http://www.youtube.com/watch?v=UotGbauCSwY&layer_token=ffb5525e30bf1639

Now i find out the ceiling of the laundry room is one inch too short, Got to tear off the roof and redo.There is no way i could have known about this before i bought it. No code violations showing. Next one gets flipped.

Just found out the new property i am  under contract to buy needs to be inspected by code before we close. No way i am closing until i see that report, Sneaky realtor thought he would wait until 2 days before close to spring this on me. Checking to see if i can get my deposit back because of non-disclosure if i don’t like what code says.

Thank goodness i am leaving for vacation tomorrow. No phone or email for 8 days.

I found out that since i put bars on the windows i now have to follow all the latest code for windows. Which means i have to replace because a fireman has to be able to crawl through.The problem is i am getting conflicting opinions from contractors and the city about size of window and what kind. Some say double glazed is ok and some say it has to be title 24.(whatever the heck that is)

We are going to have a class on code regulations soon. We all need this.

When dealing with code, don’t use unlicensed people.  Basically when dealing with code– DON’T. Got a good lesson on video for you-COMING SOON.

All kinds of picky,picky stuff that has to be re-done because my guys were not code savvy.

Code guy looked at every little thing in the house. Illegal laundry room being done by LICENSED contractor.

I have rehabbed hundreds of houses and most always never bothered with code requirments. This is the first time i got in deep and boy am i sorry. From now on, i will stick to properties that i can rehab without calling in the gestapo.

Finding out tomorrow what has to be done.

Almost nothing passed except for garage conversion. New window should have been double pane (no one told us) so we have to put in a brand new one again. No wonder people do illegal work.

Jersy city has one, is Ca. next?

Great boost for sales. Things are looking up.

Do you realize that it took 7 years for the last downturn to happen and we have accomplished a 40% drop in only 2 years?

http://blogs.wsj.com/developments/2009/05/29/how-to-get-the-8000-first-time-home-buyer-credit-upfront/

Finally! Almost done everything else. Can’t go further without inspector. (what fun). Thank goodness i have my code lady Diahanne Paine to meet with him. I am clueless about code stuff.

Still waiting for code approval of my plans. Can’t go further. Frustrated because we are close to done on other stuff.

Getting ready to close on new deal.

Got 2 deals and need partners. If you have some cash to invest with me, contact me. I have different exit strategies that can work. I would love to holds some of these deals that will cash flow but 4 loans and i am done.

Still waiting for plans to be approved from City for “illegal” laundry room so we can go ahead. Section 8 going to pay us $2200 pr month.

These are not even bad ones. Got the formula now. Who wants to be my partner?

Here is the link from our bus trip with Pete Youngs.

http://kcet.org/socal/2009/05/time-to-buy.html?__utma=1.2605620693637657600.1243888182.1243888182.1243888182.1&__utmb=1.2.10.1243888182&__utmc=1&__utmx=-&__utmz=1.1243888182.1.1.utmcsr=(direct)|utmccn=(direct)|utmcmd=(none)&__utmv=-&__utmk=164578879

 

Fast forward to 3:37 and you will see our clips.

This is a big deal and should be used in your ads to attract buyers,  Most do not know about it. This article explains how it works.

http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet7

for code to approve plans for “illegal” laundry room. Can’t go further with much until that.

Showed up on Sunday to whip my handyman into shape. I can’t get him to understand that this is now and that was then. You can’t take months to get the house done. I just had to write a big check to the hard money lender for the interest from 3–6 months.

Still making lots of offers that go pending before i even get to then. As i have said before it’s all in the backup. Things fall out of escrow right and left.

Someone sent this to me.

Snopes.com  says this is true.   See this site - http://www.snopes.com/crime/warnings/creditcard.asp 


This one is pretty slick since they provide YOU with all the information, except the one piece they want.

Note, the callers do not ask for your card number; they already have it. This information is worth reading. By understanding how the VISA & MasterCard Telephone Credit Card Scam works, you'll be better prepared to protect yourself.

One of our employees was called on Wednesday from 'VISA', and I was called on Thursday from 'Master Card'. The scam works like this: Caller: 'This is (name), and I'm calling fr om the Security and Fraud Department at VISA. My Badge number is 12460. Your card has been flagged for an unusual purchase pattern, and I'm calling to verify. This would be on your VISA card which was issued by (name of bank). Did you purchase an Anti-Telemarketing Device for $497.99 from a Marketing company based in  Arizona  ?' 

When you say 'No', the caller continues with, 'Then we will be issuing a credit to your account. This is a company we have been watching and the charges range from $297 to $497, just under the $500 purchase pattern that flags most cards. Before your next statement, the credit will be sent to (gives you your address), is that correct?'

You say 'yes'. The caller continues - 'I will be starting a Fraud inve stigation.. If you have any questions, you should call the 1- 800 number lis ted on the back of your card (1-800-VISA) and ask for Security.'

You will need to refer to this Control Number. The caller then gives you a 6 digit number. 'Do you need me to read it again?'

Here's the IMPORTANT part on how the scam works.   The caller then says, 'I need to verify you are in possession of your card'. He'll ask you to 'turn your card over and look for some numbers'. There are 7 numbers; the first 4 are part of your card number, the next 3 are the security Numbers that verify you are the possessor of the card. These are the numbers you sometimes use to make Internet purchases to prove you have the card.. The caller will ask you to read the 3 numbers to him. After you tell the caller the 3 numbers, he'll say, 'That is correct, I just needed to verify that the card has not been lost or stolen, and that you still have your card. Do you have any other questions?' After you say No, the caller then thanks you and states, 'Don't hesitate to call back if you do, and hangs up. 

You actually say very little, and they never ask for or tell you the Card number. But after we were called on Wednesday, we called back within 20 minutes to ask a question... Are we glad we did! The REAL VISA Security Department told us it was a scam and in the last 15 minutes a new purchase of $497.99 was charged to our card.
< br> Long story - short - we made a real fraud report and closed the VISA account. VISA is reissuing us a new number. What the scammers want is the 3-digit PIN number on the back of the card  Don't give it to them. Instead, tell them you'll call VISA or Master card directly for verification of their conversation. The real VISA told us that they will never ask for anything on the card as they already know the information since they issued the card! If you give the scammers your 3 Digit PIN Number, you think you're receiving a credit. However, by the time you get your statement you'll see charges for purchases you didn't make, and by then it's almost too late and/or more difficult to actually file a fraud report.

What makes this more remarkable is that on Thursday, I got a call from a 'Jason Richardson of Master Card' with a word-for-word repeat of the VISA scam. This time I didn't let him finish. I hung up! We filed a police report, as instruc ted by VISA. The police said they are taking several of these reports daily! They also urged us to tell everybody we know that this scam is happening.