Monday, October 9, 2006

Back In Business!

I had a brief talk with my investors this weekend. That had previously asked that I hold off on purchasing any more properties until we could have a meeting. After all was said and done, they have decided not only to continue with the buy-fix-sell strategy I have been using, but to also add some more money to the game.

As many of you know, I work on an all-cash basis. When I started out a couple years ago, prices were quite a bit lower than they are now. With the recent appreciation the Phoenix area has seen, my bankroll, even with the profits from my previous deals, has lost some buying power. Right now, I'm on the border between being able to buy newer houses in good parts of town and older houses in not so good areas. I prefer the newer houses and those are getting tougher to find in the price range I am working in. So my investors have decided to allocate another $25,000 or so to help with this issue. They've got some other financial matters to clear up this month and once those are wrapped up, they will invest the money with me.

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