Great turnout at the RICH Club Opportunity Exchange and Networking event last night. There were probably 20 deals presented by fellow investors, including a pair of Webster houses that were esitmated to be worth 90 -95k needing 15 -20k rehab that sold for 10k each! Not a bad deal if the numbers are right.

Close to a full house as host, Eddie Gant, answers questions about value, financing options and his experience in rehabbing houses in the Houston Area.

Some of Houston’s high volume dealers as well as new investors were on hand to make deals happen and get in some excellent networking opportunities.

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Check out this article from Sunday’s Chronicle http://www.chron.com/disp/story.mpl/business/realestate/4658167.html. It is unfortunate that these things happen, but remember there are a lot of investing success stories that will never get front page coverage, “Investor Buys 10 Houses, Rents Them Out and Get’s Rich” doesn’t sell papers I guess.

Houston is home to a number of radio shows dedicated to real estate and mortgages but I wanted to make sure you knew about some that have a slant towards investing. There is a lot of good information on these shows, but as always do you own research. (keep reading…)

Fremont closing it’s doors, New Century on it’s last legs. If you think this doesn’t mean anything to you, think again. Even if you have perfect credit, if you are a real estate investor, then the latest fallout in the subprime lending market will probably affect you. (keep reading…)

As usual there was some great free info, networking and deal swapping at the Newbie Club Tuesday night. Most successful investors I know list networking as one of the top contributors to them reaching their goals.

Lance Edwards of RealCoach talked about his experience of getting past the book, tape and seminar phase and into buying commercial real estate and quitting his corporate gig.

Andy Davies of ReConstruction Production, contributor to FLIP: How to Find, Fix, and Sell Houses for Profit, went over the 50 Steps involved in rehabbing and the importance of doing them in the right order. Andy, I’m surprised you forgot step 51 - Pay your contractor.

Wholesaler Extrordinaire, Tammy Berry was in attendance and networking, generously answering questions and contratulating a student who recently closed on her first commercial wholesale deal.

Tammy just taught two seminars through the Newbie Club/Project Prove It on wholesaleing residential and commercial real estate.

The Newbie Club is definitely one of the hot spots for networking with wholesalers and rehabbers in Houston. Give Gordon Appleby a call at 281-921-0590 or check out the website at www.projectproveit.com

If you own a house in Houston, Tx then there is a 110% chance that it had, has or will have foundation problems. It’s part of our environment. But still, I talk to investors that will not even consider buying a house with structural problems. That’s too bad, because foundation problems represent some of the best buying opportunities and return on investment. (keep reading…)

I spent Saturday morning at the RICH Club and wanted to share the wealth. If you’ve never been to the monthly general meeting, it’s the first Saturday of every month. Check www.richclub.org for details.

Real Estate Uncensored Radio Show Broadcasting Live from the RICH Club General Meeting.

Local Real Estate Tax Advisor Michael Plaks was on hand to dispense his wisdom as usual. He also gave some great nuggets of information to the attendees in the auditorium.

RICH Vice President and Founder of Complete Property Services, Glenn Dickson always has a smile for folks looking over last months leasing trends.

It’s a good time and great networking event. I always get something out of it.