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Google

Thursday, September 29, 2005

More things Kirsten Kemp doesn't mention about flipping real estate

Wow. This whole "finding the right property" thing is a real challenge. As you know I found the key to pre-foreclosures and forclosures in the area, but even those are often over valued. People don't have any equity or they probably wouldn't be in that kind of situation. MN also has a 6 month redemption period where the person foreclosed upon can live in (and sometimes trash) the house. No wonder most of these properties are bought by the bank holding the mortgage. I think there's a good market in estates, but I really don't know enough about the city to deal with those . . . I know Mom would have been thrilled to sell grandma's house to an investor if the one that asked her to sell had offered anywhere close to a reasonable price. First he said "$200,000", then he said "$140,000". Maybe that's good buiness for him, but it's smarmy to me and I'm not going to toy with people who just had a death in the family. BTW, the house ended up selling for about $180,000 I think . . .

So Kirsten, how do your people find a good property? Of course they're all in California where property is appreciating so fast that anybody can make money. Of course there's also a huge risk in California right now. Appreciating like they've been experiencing simply isn't sustainable. The question is how long it can last . . . and what happens when all of these investors can't sell their investments . . . .

Hair goop to colds and flu . . .

Lots of stuff is available without cost at Walgreens this month. I've been happy with their Easy-Saver program. It's easy and everything gets sent in with one submission. Here's what is available this month:

Valid 9/25 - 10/29

1. FREE Cura-Heat Therapeautic Heat Packs (3 pack)
2. FREE Adults Choice Gummi Drop Vitamins (60 pack)
3. FREE Kotex Lightdays (15 pack)
4. FREE Oral B Cross-Action toothbrush
5. FREE Colgate Luminous toothpaste (6 oz.)
6. FREE Vision Formula Tablets (30 pack)
7. FREE Fructis Hair Styling Product
8. FREE Zim's Crack Creme, Spa or Foot Gloves
9. FREE Zicam Intense Cold + Flu relief (6 pack)
10. FREE SudaCare Shower Soothers (3 pack)

Here's the link to see more: http://www.walgreens.com/store/rebateclub.jsp

Yep. I'm too lazy to put in the html code, so you'll have to copy and paste.

Tuesday, September 27, 2005

Pre-foreclosures in Dakota county, MN

Well, today I discovered a pretty good method of getting foreclosure/ pre-foreclosure information for Dakota county, Minnesota. (Where I live.) However, I have no idea why this information would be all that useful since MN has a 6 month redemption period where the foreclosed can LIVE IN the property. So, here's some of what I figured out. If anybody would like more of it drop me a line at dakoforeclosures@ralarson.com and we'll work something out.

14322 Ebony Lane, Apple Valley
$250,289 owed.
Sheriff's auction scheduled for Nov. 10, 2005 in Hastings
Currently on the market. MLS 3096352. Asking price is $245,000

19140 Embers Ave., Farmington
$242,308 owed.
Sheriff's auction scheduled for September 29, 2005 in Hastings
Recently on the market for $339,500. Now is TNAS (temporarly not available for showing/sale)

Paying down your mortgage, investments, 401K, and Google

This is a nice article. I've always gone contrary to the typical "don't pay down your mortgage" advice and I'm glad that at least somebody agrees with me :) (At least in some situations.) I thought this part was particularly interesting:

"I don't dispute those benefits. But lately I've come to believe that a more aggressive mortgage-paydown schedule could make sense for many homeowners, particularly those who are inclined to invest in the market instead. That's because the prospects for other asset classes could be particularly paltry relative to their past returns. While long-term equity returns have been in the neighborhood of 10%-12% over long stretches, a host of investment pundits, from Vanguard founder Jack Bogle to stock market historian Jeremy Siegel, have argued that mid- to high-single-digit equity-market returns are more realistic going forward. The prospects for bonds are even less compelling. Prevailing long-term Treasury yields have historically been a pretty good predictor of long-term bond returns, and the recent 10-year Treasury note was yielding just 4%."

Sounds like the stock market might not be the best game in town for your 401K or Roth IRA . . . the problem? Are there any other games being played? No. This doesn't have too much to do with Google either, but I'm hoping for ads other than the dreaded b____.

How Aggressively Should You Pay Down Your Mortgage?

Monday, September 26, 2005

ING vs. Emigrant Direct online banks and Google

I love ING direct online bank. Very easy to use. Good customer service. However, Emigrant Direct recently raised its rates to 4.0% and ING responded with 3.4%. I can't walk away from .6% even if I like ING better so, I'm currently (hopefully temporarily) moving my savings over to Emigrant Direct. Even if you are tempted by the additional .6% be forewarned to be patient with Emigrant's sign-up process. (It works, but it's a pain.) Also, you still might as well get an ING account too, since you can get a $25 sign up bonus if you're invited by a current member. An $25 buys you a lot of interest. If you'd like an invite send me an email with your name and e-mail address. ingref@ralarson.com This doesn't have much at all to do with Google, but I have a hypothesis that Google has an ego . . .

Dear Google

. . .most of my readers can ignore this post on move on to the good stuff underneath it . . . .

Dear Google, I just wanted to point out to your googlebots that this is not a b___ about b_____. I don't know all that much about b______ and it's safe to say (based on the fact that nobody clicks on your b___ ads) that none of my readers are interested in b_______ per se. This b___ is about real estate, finances, 401Ks, allergies, garage sales, dandelions, how to get stuff at no cost, and lots of other things. None of the things I write about are related to b_______, so please give me ads related to something other than b_______. BTW, Kirsten Kemp is the host of a show about flipping real estate (mostly in California). So, people searching for her stuff aren't interested in b____ either.

Saturday, September 24, 2005

What Is A Fixer Upper when it comes to real estate?

Here's a nice article defining a true fixer upper. I think it's a little out of date in that I don't think you could do the fixes he described for $7000, but house values are a lot higher now too.

What Is A Fixer Upper?

Buying properties essentials -- things Kirsten Kemp hasn't told us yet

The top link on this page will lead to a pdf download of HUD's Residential Rehabilitation Inspection Guide. Great info. especially for the beginning property flipper, but I bet experienced people might find some of it useful too.

Residential Rehabilitation Inspection Guide

Little ways to make money on the internet

Okay. I've been writing quite a bit about properties. A little bit on investments. What about starting with (basically) nothing? Well, since I know you have internet since you're reading this, here are a few little ways that I make money on the internet. The first, but not the most profitable, is advertising. Right now all of my advertising is allergy based, so lots of things I write about aren't getting relevant ads. (Though with the back of Candela's knees looking worse and worse I may be writing more about allergies soon :() The easiest way to get advertising on your website is through Google adense, but Yahoo is a recent addition to the scene, so you might want to check that out too. Want to learn more about either of those (or anything else?) That leads to the second thing, my Google seach bar. It's basically another form of advertising, but the ads tend to be a lot more relevant :). Now, to take advantage of either of those you really need a website. What's the best way to get one of those? Blogger. Once you progress past a blog let me know and I'll tell you about cheap ways to get a "real" website, but Blogger is free. Regretfully you're not going to make very much money unless your website is VERY popular, so we need some other ways too: 3) Affliates and "direct" advertising. Lots of these are just variations of MLM, but they're free, so why not? Here are some companies that pay me to refer people to them: A) My favorite is ING direct. Anybody who has a bank account with them can send referrals to upto 25 of their friends and get paid $10 for each friend that signs up. Better than that, the friend gets $25. Not bad for 3.4%, ease of use, no minimums and FDIC insurance. Want an invite? Send me an email ingref@ralarson.com. B) My second favorite is American Consumer Opinion. They pay people to do real surveys and they pay me $.50 to get you to sign up. (Trust me I'm not so hard up for cash that I'd deceive anybody into doing something stupid for $.50 -- they don't send SPAM or sell your e-mail or info.) American consumer opinion C) I also do some stuff with Survey Savvy and My survey. My survey> Surveysavvy Neither one of these have survey payouts that compete with Acop (in my experience), but they both pay me more for referring people. Hmm . . . wonder if those are related? BTW, these guys don't send out Spam or anything either. As you can tell I've kind of latched on the survey people :) Supposedly the crem de la crem of survey companies is pinecone, but they don't care enough about me to even bother rejecting me and you have to find one of their banner ads to join . . .so far I'm not impressed! Which leads to 4) Books. We all have them, how many of us really want them? I suppose most of you know about half.com and amazon.com as ways to sell your books. There's also ebookdrop.com. You will NOT get as much money from them, but they pay the shipping and you can sell all of your books at ONE TIME. You don't have to wait forever. 5) There's eBay. I've heard such stupid things about eBay, like "it's too expensive to get started" Hello! All you need is a 640 by 480 (minimum) digital camera (face it those are cheap and easy to borrow!), 30 cents, and something to sell. Don't be stupid, do your research or even contact me with your questions, but don't let the finances be a barrier. Finally, the joyous garage sale. It's not specifically internet, but it has an internet component :) Check out my archieves from May and June 2005 and you'll have my experiences with my first garage sale ever!

Thursday, September 22, 2005

Flip house update

Well, as of this evening flooded cat crap house is officially pending. . . .and not by me! I've got to see that open house when they get it fixed. . . .

More things Kirsten Kemp doesn't mention about flipping real estate

You know when Property Ladder talks about those other costs that they don't mention? Taxes are a biggie and how you deal with them is really important.

Tax consequences of flipping real estate

Figure out how to conserve now!

Hmmm . . .Eric, how about working from home? From under an electric blanket?? Gas going to $4 - $5, Natural gas probably going WAY up too :(

Rita's oil punch could hit harder than Katrina - Sep. 22, 2005

Wednesday, September 21, 2005

Retirement and your 401k

Here's an article about how you probably aren't saving enough for retirement. What I found interesting was the following quote:

"They don't know, for instance, that a company is under no obligation to provide education or that a company is under no obligation to provide advice. In fact, under current law and despite efforts to change it, employers are liable for any advice they do give participants."

Hmmm . . . I wonder why employers simply choose to provide NO advice.
Will 401(k) shortfalls precipitate wave of lawsuits?

Sunday, September 18, 2005

Flipping real estate -- What Kirsten Kemp really thinks

Did you see Property Ladder last night? HS counselor decides he needs to supplement his income by flipping houses -- one tiny little problem . . .he doesn't seem to KNOW anything! No need to worry though. He still made $200,000 before fees (and taxes). Yikes! I think this is why Property Ladder does 99% of its shows in California. I guy don't think the Minnesota real estate market would ever forgive you for blowing your budget by $175,000!! You could almost see Kirsten rolling her eyes at this guy. (So, Kirsten, what do you think? I guess you can put on a smiling face and let the viewer come to his or her own decision, right? :))

I would like to see Property Ladder tackle some flips in sane real estate markets. (Not depressed just not insane.) It would be interesting to see. Eric and I looked at two potential flipper houses this weekend. Both were truly scary, but one caught our attention more than the other. Eric calls it the "cat crap house". Just in case you were ever wondering, don't let dozens of cats roam freely in your house with no litter boxes. It will not do wonders for the value of your house. I actually think there is money to be made in that house, but I don't think we're going to be the ones making it. The timing is bad for us and I not sure we'll ever be excited about a house that's been flooded. (Yes. Cat crap and flood -- for a mere $220,000.) It's not that flooded houses can't be good deals its just that once you've been there, done that with your own house it's hard to imagine going there again ya know? This house was also in foreclosure so there's no disclosure to explain away the flood as "this is what happened and this is how we fixed it." We're also concerned that no amout of remediation could make the cat odor go away, but we're probably wrong about that. It will be interesting to see what happens when/if this house ends up on the market again.

Saturday, September 17, 2005

No cost french fries

Here's a form for a coupon for no cost french fries from OreIda freeeasyfries.com

Thursday, September 15, 2005

More things Kirsten Kemp didn't teach me about flipping property

Here's a pretty active forum on flipping houses. It's nice to be able to read about people with real, live experience. If you go to the root site there are a bunch of articles and the like too.

Flippinghomes.com

Wednesday, September 14, 2005

Things Kirsten Kemp didn't teach me about property flipping part II

I hate to say this considering I've been living in my current house for almost exactly two years, but . . .I keep coming to the same property flipping conclusion: The best flip is your own. Especially if it's your first flip. What does that mean? You should move every two years. YIKES! Here's why: Owner occupied financing is cheap and easy to get. You don't have to make 2 mortgage payments. If the flip goes "bad" (property values decline, market softens, you can't find a buyer) you stay and don't lose your shirt. You avoid ALL capital gains expenses. You can sell with a standard disclosure and your house doesn't look like a flip (because it isn't). You don't even have to worry about renting furniture for staging :) If you do the "move in and fix up" routine a couple of times you could have enough money to finance other (more traditional, fast) flips, but I think moving in is probably the best way to do your first flip.

Avoiding (some) capital gains taxes

I totally disagree with Suze's garage sale analysis (afterall garage sales are all about the social interactions and my first one made over $700, but . . .). However, this article has an interesting gem on avoiding some capital gains taxes if you have kids.

Give Smart: Money Matters - Yahoo! Finance

Things Kirsten Kemp didn't teach me on Property Ladder Part 1 -- How much to spend?

Continuing on from my series on things Kirsten Kemp almost taught me . . . A friend of mine (well, actually her husband, but she'll play too) would like to get into the flipping biz. The fixing and selling isn't a problem, but they're unsure of the buying and financing. So, this series will try to help with those questions. (Of course, these are things the people on Property Ladder have before they even start!) Here's a website that's definitely commercial (IE don't completely trust it since they're trying to make money.) However, I agree that this article provide a very conservative (possible too conservative to be realistic) approach to how much you should spend for a fixer property. I'm always in favor of a conservative approach! (Esp. for a newbie!)

rehab_101

Sunday, September 11, 2005

Lots of ways to save money

Here's a nice list of ways to save money that you might not have thought of A Savings List And make sure you put that savings in ING. 3.3%, ease of use, no minimums, FDIC insurance, and if you get an invite you'll get a $25 sign-up bonus (for everyone in the family as long as they each get their own account) Want an invite? Send me an email with your name and e-mail address. ingref@ralarson.com

Friday, September 09, 2005

No cost pasta sauce and olive oil sample

No cost Bertolli pasta sauce and olive oil sample. I wish I knew how much they send, but I don't . . . I guess "*ree" is another word I shouldn't be using . . .

Bertolli

How to Work for an Idiot

I'm sure this doesn't apply to anyone, but you might want to store it away for future reference :)

How to Work for an Idiot

Thursday, September 08, 2005

Too much news, allergies, and properties

I guess I haven't been posting much lately. Spending too much time watching the news I guess. I have lots of thoughts, but I suppose most of them should stay in my head. At least for the time being. :) However, since this is the allergies to properties blog I do have a couple of thoughts on those two subjects. Allergies: We here in MN aren't really evacuation oriented (we're much more likely to be stuck somewhere than ordered to leave). However, with Candela's peanut allergy I really realized I've got to make sure we're ready to leave with lots of safe food and her meds. I've heard that MREs are full of peanut butter and I guess that wouldn't surprise me considering peanut butter is high in protein, good at room temperature, and easy to store. Even if we were to leave and go to a friend's house I shouldn't assume they have peanut free food available, so I better be prepared. Properties: Yep. This is going to be contraversial. FEMA should not be encouraging people to build permanent structures in flood zones. Nature will win every time . . . it's just a matter of time. Maybe someday I'll reflect on my experience with a flood . . .

Saturday, September 03, 2005

Glad not to be part of a Homeowners Association!

While I have a feeling the person who "wrote in" to this answerman would probably drive me crazy with all of her rules . . . A few quotes in this article got me:

"Unfortunately, most association documents are heavy with remedies that can make you behave, but light with rules that can make it live up to its responsibilities."
AND
"Experts on such associations estimate that about 50 percent of the dues they collect are used to pay for their management companies and attorney fees."

Problems with HOAs

Friday, September 02, 2005

Natural gas going to be expensive this winter!

If you're up here in the northland winter is approaching all too quickly and natural gas is going to be AT LEAST 50% more this winter, so . . .here are some tips on conseving natural gas. Stolen (w/ slight modications) from Georgianaturalgas.com: Some of these are about electricity, but some of our electricity comes from natural gas too. (Time to be thankful that quite a bit also comes from coal and nuclear energy.)

Heating and Cooling

Set your thermostat at 65°-68° F during the winter while you’re home during the day, and lower it at night or while you’re away to 55°-58° F.

Install a programmable thermostat that automatically adjusts the temperature when you’re not at home. You could see up to 15 percent in annual savings by programming your thermostat five degrees lower for eight hours per day during the winter. These are pretty easy to install and pretty cheap at places like Menards.

Use a humidifier in colder months. When air is moist, you’ll feel warmer and you can keep your thermostat lower.

Check your furnace filter frequently, and replace or clean it once a month or as needed. A dirty filter can drive up the cost of heating your home.

Open draperies to let in the sun’s warmth during the day; close draperies to slow the loss of heat through the glass at night.

Rearrange furniture or shorten draperies so heating registers and air returns aren’t blocked.

Appliance Tips

Lower the temperature setting on your washing machine. Most of the energy your washing machine uses is for heating water. Wash your laundry with warm or cold water rather than hot; then rinse in cold water only and save at least 50 percent on your washer’s energy costs.

Run only full loads in your dishwasher. Avoid the rinse-and-hold cycle and save the seven to 10 gallons of water that pre-rinsing requires.

Reduce the demand on your water heater by taking shorter showers. Install water-saving, low-flow shower heads and set your water to less than full force.

Turn your water heater thermostat to no more than 140° F. You can also install in water heater programmable thermostat and/or cover your water heater with a thermal blanket.

Repair any dripping faucets.

Make low-cost “storm windows” by placing plastic over windows.

Keep your freezer and refrigerator as full as possible.

Position your refrigerator and freezer away from your cooking range, when possible.

Wash clothes in cold water. Most of today’s laundry detergents work effectively in cold water.

Clean the lint from your dryer after each use.

Set your dishwasher on the low-temperature setting unless your dishes are very dirty.

Use the “energy saver” switch on your dishwasher to shut off the drying element. That greatly reduces the energy used.

Preheat your oven only if a recipe calls for it.

Use microwaves, toaster ovens, and slow cookers to save energy costs.

Consider replacing any gas appliances that are more than 10 years old with more energy-efficient models.

Insulation and Weather Stripping Tips

Weatherize your home. Use caulking and weather stripping around doors and windows to seal cracks and leaks. Hold a feather or a burning incense stick in front of a window. If the feather or smoke moves away from the window, you have a leak and should weatherize. See your local home improvement retailer for classes and easy how-to tips.

Check the insulation level in your attic. Proper insulation can reduce your heating and cooling bills by up to 30 percent.