House #2 – Figuring out my offer

Scott CostelloAll, Blog 2 Comments

So this week I want to make an offer on house #2.  I will call this the Well House.  I’m going to go through how I’m figuring my offer price and if anyone wants to chime in that would be great as well. Asking Price: 345,000 Des: SOLD AS IS. LARGE HOME. MASONRY AND FRAME CONSTRUCTED. HW FLOORS. FRESHLY PAINTED THROUGHOUT. OVERSIZED 2 CAR GARAGE. PROPANE GAS FOR COOKING ONLY. GREAT INVESTMENT FOR HANDYMAN. REPLACEMENT WINDOWS THROUGHOUT EXCEPT LR. 1ST …

Accountability Mondays and more

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Accountability Monday For those that follow TampaSteph’s blog (flipthiswholesaler.blogspot.com) you will remember she started an Accountability Monday that seemed to be popular.  It gradually evolved into something else so I wanted to bring it back.   I’m also going to see if I can take it a step further and offer an added bonus to someone who succeeds and continues to participate in Accountability Monday.   Here are the simple rules… On Monday you must post a comment with your 1 …

Guest Writer – Shae Bynes

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In my effort to expand the knowledge on my site I’ve asked a few people to write guest articles for my site.  The first article was written by Shae Bynes.  Shae is an extremely motivated investor who is just starting to see her hard work pay off.   Her focus right now is networking with other investors, REO Realtors and private money partners. Her article   Get up off of that thing – and network! gives great advice as well as …

Investing Goals for week 7/13 to 7/20

Scott CostelloAll, Blog 4 Comments

Alright I’m back on track with my goals. I completed them all this week so lets review… Rework my short term goals – DONE, I accomplished this by setting up my new schedule for every week. It usually takes me a few weeks before I have the routine down as I’m a forget full person and a creature of habit so I’ll do my best. If you want to see my new schedule go here Find another house to make …

Postcards – Lis Penden

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Some one last week asked if I would share the postcards I use for my mailers to Lis Pendens.  I’m always changing them but here are two examples that I use.  They haven’t been working to well but that could be for many other reasons then not being good.  Feel free to steal them or use parts of them. [ad#Banner1]

Review: 4 Hour Work Week

Scott CostelloAll, Books Leave a Comment

I have always been a proponent of working smarter not harder.  I am a computer programmer by trade which really helps me think in terms of automation.  Every day in my J.O.B. I analyze situations and try to create a process that can be run with as little human intervention as possible.  Nothing annoys me more then having to run an 8 step process, manually, every day or even once a week.  So I work hard up front in order …

My updated schedule

Scott CostelloAll, Blog 12 Comments

Because of my wife’s upcoming change in her work schedule my weekends are going to have to change around some.  I will no longer have time to do much real estate on Sundays except for going to open houses.  I’m also going to update what I am doing over the week days.  These items will be done every week along with additional goals I will be setting. Monday Exercise (golf or gym) Post ads on craigslist looking for buyers and …

Brain Dump, LLC and internet marketing

Scott CostelloAll, Blog Leave a Comment

Lately I’ve been thinking about creating an LLC so I can write off some of my business expenses so far.  I haven’t been making any money, only spending it it seems.  It’s not a lot of money but it would be nice to be able to deduct it at the end of the year.   Things I spend money are marketing with postcards driving around looking at houses educational material website tools (hosting, domain names and templates) Those are my main …

Brain Dump, LLC and internet marketing

Scott CostelloAll, Blog Leave a Comment

Lately I’ve been thinking about creating an LLC so I can write off some of my business expenses so far.  I haven’t been making any money, only spending it it seems.  It’s not a lot of money but it would be nice to be able to deduct it at the end of the year.   Things I spend money are marketing with postcards driving around looking at houses educational material website tools (hosting, domain names and templates) Those are my main …

Brain Dump, LLC and internet marketing

Scott CostelloAll, Blog 10 Comments

Lately I’ve been thinking about creating an LLC so I can write off some of my business expenses so far.  I haven’t been making any money, only spending it it seems.  It’s not a lot of money but it would be nice to be able to deduct it at the end of the year.   Things I spend money are marketing with postcards driving around looking at houses educational material website tools (hosting, domain names and templates) Those are my main …

How To: Building a Real Estate Website – Part 3

Scott CostelloAll 5 Comments

WordPress Features Breakdown Part 3 of How To:  Build a Real Estate Website will focus on WordPress 2.8 and it’s features.  I will run down what all the areas are and give you some tips along the way.  I will also outline some useful plugins that willl help you get started. First things first, if you didn’t follow the last step in Part 2 please go to your site’s admin panel by browsing to Http://www.<your domain>.com/wp-admin There you will be …

Slow, but getting ready for another run

Scott CostelloAll, Blog 6 Comments

Slow weekend in terms of REI. I got nothing done and I blame that on not setting my goals for last week. It’s really amazing how well writing them down works. It’s like I hit a peak with making that offer and now I’m taking a breather. That’s not gonna work, I have to keep the momentum going or risk falling backwards. Tonight I’m going to rework my short term plan and get back in the swing of things. My …

Resource Sharing Group – 10 members only (3 Left)

Scott CostelloAll, Blog 28 Comments

I am looking to start a small community for sharing learning resources.   We all have courses, books, audios and more that we’ve bought and are now just sitting around.  I think it would be a great idea to share those resources amongst a group of dedicated investors. The group will be comprised of 10 people (to start).  It’ll be free to join, but you’ll have to contribute at least one resource to the group.  To keep things fun and interactive …

Rehabbing for Big Cash – Version 2.0

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As much as I loved Steve’s Wholesaling for Quick Cash course, this has the same quality but takes it a step further.  About 80% of the information is identical to his wholesaling course, which includes networking, property acquisitions, financing, etc…  The extra 20% is what makes this course unique.  Steve takes you through how to properly rehab a house.  After acquiring the property, this course walks you through the steps you must take to successfully rehab a house.  There are …

Countered!

Scott CostelloAll, Blog 10 Comments

I got a call from Mike the Realtor yesterday and he said the owners countered my offer.  This shocked me as I figured I’d get laughed at and I would move on.  They came down 15k to 320k.  Not a huge amount but it was note worthy.  I told my realtor to offer my max of 168k and say that is my Highest and best.  I don’t want to be going back and forth back and forth.   So we will …