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From the category archives:

Business & Investing

Fun Projects

by Amber on February 23, 2010

in Business & Investing,News & Updates

We’re getting back to our “high tech” roots and publishing more web sites – it’s been a challenge keeping up but we enjoy doing research online and learning about various topics.  Funny thing is, I (Amber) wanted to do web site development and multimedia publishing when I graduated from Berkeley over 10 years ago! Oh well, better late than never.

David just posted a review of his 2009 site stats (his first full year of blogging) on his personal blog DavidOverfield.com. I selfishly encourage him to blog more so that he can share his insights and stories with more people and not take up hours of my time when I’m trying to get work done :-)

David has been shooting videos of houses bought at the foreclosure trustee sales and the actual live auction – you can find these videos on his YouTube channel and posted at AccessWealthStrategies.com. I’m getting used to video editing but find that it takes more time than I would like.

Most recently, David interviewed John Ray, a local (Phoenix area) expert at buying foreclosure properties at the Maricopa County trustee sale auction. The full interview is posted here: Interview with John Ray: How to Get a Good Deal on a Foreclosed Property at the Trustee Sale Auction and Avoid Common Mistakes. Or, if you’re lazy, just click pay below to watch all 4 parts of this information packed video interview (about 36 min. total).

We believe distressed assets are a major opportunity and hard money lending a good way to take advantage of it. So we’ve been working with a group of friends on flipping houses bought from Phoenix foreclosure trustee sales.

We’re also working on more “expert interviews” to be posted on AccessWealthStrategies.com – please subscribe and stay tuned!

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Shortly after we moved into our Scottsdale condo, we met with our business partners to tour a couple of foreclosed houses they bought at trustee sales. Here are 2 video tours where you can see 2 different houses in the north Phoenix area, one just acquired and one fully fixed up.

Home #1 – Desert Ridge House, Just Bought at Trustee Sale (Before Remodel)

Home #2 – NW Phoenix House, Fixed Up and Ready for Sale

As you can see, both houses are in good neighborhoods. They should both sell at a good profit for the flippers and investors. Now that we’re local, we can get more involved in this business.

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We were in Scottsdale, AZ last week looking at properties for rent as well as houses that were bought by our partners at the trustee auction to fix up and re-sell. We toured 3 houses being prepared for re-sale, one of them was sale pending already.

House #1 – DC Ranch House Tour (Scottsdale, AZ)

House #2 – McDowell Mountain Ranch House Tour (Scottsdale, AZ)

House #3 – Custom House on Acreage (Scottsdale, AZ)

Looks like the fix-and-flip model is working in the Phoenix area and competition is heating up. Trustee sale bidding is getting pretty competitive for lower-priced houses so some investors (including our friends) are moving up market to higher-end homes with better margins.

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We took a day trip to Temecula this Sunday.

First we met up with our friends Tom & Helen to look at some bank REO listings. According to an agent we spoke to, the REO listings under $200K are getting lots of bids. There are investors who fix up and flip the homes quickly, as well as those who rent them out while waiting to sell in a few years for profit.

We also checked out new homes for sale just for comparison. Here’s a video of us touring a model home priced in the $275K-$300K (before upgrades).

Later that day, we met up with Amber’s parents who are buying a new home in Winchester. We had dinner together with Amber’s parents and relatives in the area and made it back to Long Beach in good time (< 1.5 hr. drive).

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We visited our friend DJ’s manufacturing facility in Santa Clara. He gave us a tour of all the cool machinery he uses in his business (contract manufacturing).

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