Money guru Jim Cramer is advising folks to default on their mortgage if the loan terms are bad and depreciation has set in. Attention landlords, he may be creating more renters and and better deals.

Here’s a news story on The Flip This House Atlanta controversy.

The Newbie Club is hot. Last night was packed as many deals were presented. Stan Hallett went over Houston’s market conditions and explained that even though some numbers were down from this time last year, he reminded us that last year was phenomenal and that we have dipped from and excellent market to a great market. Good news.
(keep reading…)

Harris County Tax Assessor-Collector Paul Bettencourt along with Harris County Appraisal District Chief Appraiser Jim Robinson and Galveston County Tax Assessor-Collector Cheryl Johnson will conduct simultaneous two-county taxpayer appraisal protest seminars on May 30, 2007. The deadline to protest property appraisals for most accounts is May 31, 2007.

(keep reading…)

The front cover of yesterday’s Chronicle Business Section had a featured article on steps you can take to avoid foreclosure. I guess selling to an investor isn’t one of their favorite solutions. (keep reading…)

Here is the other side of Real Estate success. If you saw the story on ABC News Nightline about Casey Serin you see that there is such a thing as too much, too soon. Actually he just made one bad deal after another. Here is a video of him talking with Robert Kiyosaki (not a big fan) about his quick downfall. Listen and learn.

Here’s a pretty decent video series that will walk you through a rehab. Keep in mind some of the prices can differ by region but overall a good overview if you’ve never done a rehab.

For the rest of the Series (keep reading…)

McAllen topped Money Magazine’s forecast of the biggest gainers for the next year, with Houston coming in at number 12. You can see the whole story at CNNmoney.com.

Don’t you love going to a real estate investing seminar and the presenter is so excited about all the money he’s made and all the money his students have made and all money you are going to make because using his system is soooo easy and nothing bad happens if you just follow his methods? Well, then you may be dissapointed because the Complete Property Services free monthly seminar offers none of that.

President of the company and presenter, Glenn Dickson gives a realistic view of investing in Houston residential rental properties. Quitting your job and sitting on the beach for six months each year isn’t part of the program.

Glenn explained that the difference between your mortgage payment and incoming rent is not really cashflow, but rather savings for future repairs and maintence. I know from experience that one AC replacement can easily wipe out a year’s “cashflow”. (keep reading…)

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.

(keep reading…)