Author: Pete Youngs

Theft-Proof Rehabbing by Pete Youngs One of the most common things I run across no matter where in the country our properties may be, is theft or vandalism. I don’t know any investor that has not faced this as sad as that may be. It doesn’t always have to be serious, but it is always inconvenient. From neighborhood kids tagging with spray paint to full blown breaking & entering and burglary, you will want to avoid this if possible. Here are my suggestions. My first and favorite tip is to use regular car wax – yes, the car wax that…

Common Mistakes to Avoid When Painting By Pete Youngs Beginners and seasoned investors alike are prone to making mistakes. Most mistakes can be easily avoided by just listening to people talking at your local REIA group or in meet up sessions. Some mistakes are minor and have little impact on the end result of selling or renting your property while others can become nightmares. This will not be the only portion I write on mistakes, but this one I am sure will affect everyone at some point in time. One of the most guaranteed things you will have to do…

Always Be on The Lookout for Property By Pete Youngs Full-time real estate investors are always looking at any and all possibilities no matter where they go.  Keep in mind that you will never go anywhere in the world that real estate is not the biggest product for investment you will find. Done properly, every trip you take is a potential deal just waiting to happen. On one of our cruise voyages with Carl and Vicky Fischer we, as always, looked at properties. With all the newest ways you can profit from real property and the fact that we are…

Meth House Makeover By Pete Youngs (aka Mr. Rehab) Part of my real estate trainings of rehabbing properties is that I became an instructor for EPA lead-based paint, RRP rules and regulations as well as mold inspection classes for investors. The main point on asbestos, meth, mold, lead etc. is to clean or remediate the area while containing dust and protecting people. The best scenario is to always hire professionals for the job, however, these are the steps involved. For properties that have tested positive for methamphetamine, care should be taken right from the start.  Meth residue in a property…

Seven Questions for Contractors By Pete Youngs How long have you been in business in this area? This is important because you want them to be established. In many cases, you may run into a company that is new and you will have trouble getting older references and such. If they have a good history in the area, you are less likely to have someone take your money and run. I like a 5 year history or more. How many workers will be on the job daily? I want to make sure that there are enough bodies to do the…

Buying with Private Money By Pete Youngs When buying a property, sometimes it is better to use other people’s money (OPM) rather than your own. This is actually how a lot of successful investors got their start.  There are several different ways to do this, however the two most common are Hard Money Loans or Private Money Loans. When using a hard money lender, you may have to pay points up front to get the loan, then a percentage rate of interest only payments until the property is sold or the term of the loan has been met. A typical…

Real Estate Cruises, My Favorite Networking by Pete Youngs Most any serious real estate investor will agree that one of your most valuable tools in being successful is the art of networking. In many cases the first thing I would advise is to join your local real estate investment club. This gives you access to many like-minded people who like you want to buy, sell trade and rent properties. I look forward to the annual National REIA cruise and have been aboard for this networking cruise for almost two decades now. As a faithful follower of National REIA, I have…