This entry was supposedly purely for a house rehab tip. But oh well, the NBA gets in the way yet again. Kore Bryant and the Los Angeles Lakers beat the Boston Celtics, 83-79, in their Game 7 duel at the Staples Center.

Again, this entry’s supposed to discuss a tip on rehabbing houses but hey, basketball is really getting in the way again. It could have been a celebration for Kevin Garnet, Paul Pierce, and the rest of the Celtics roster but the Lakers staged a fourth-quarter comeback. Pretty painful and heart-breaking for Boston fans, but that’s how the game’s played. You just need to push and push until the final buzzer. Now, on to the small house rehab tip.

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When doing a house rehab, there are some repairs and improvements you simply cannot carry out without a permit. That is why even before you start doing the gut, make sure you’ve already checked local codes. Make sure you know what you are allowed to DIY and what should be left to professionals. Some repairs need the approval of local authorities.

This came to mind, believe or not, because of the failure of a “female Viagra” to pass studies conducted by federal health regulators. Food and Drug Administration officials said the pink pill, designed to increase women’s appetite for sex, simply didn’t do its supposed job. The pill will be studied again by a panel of experts. It is common knowledge that the pharmaceutical industry is regulated because of the dangers drug possess. Rehabbing is, in a way “regulated,” too, although not as strict as the medicine industry.

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Recent news reports said that home values in areas affected by the country’s worst oil spill could be affected for at least three years. The area covers a 600-mile stretch from the Louisiana bayous to Clearwater, Florida. But somehow, real estate investors, agents, and even homeowners in the affected area have something to smile about.

Pres. Barack Obama said he will demand energy giant BP to pay for the cleanup. It’s not certain but at least there’s some hope for home values there. While real estate investors, agents, and other people whose livelihood rely on the housing market face some uphill climb, it’s always good to have some optimism intact.

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Finding cash buyers is a task most neophyte real estate investors find daunting. This is pretty understandable for investors who are still struggling to break into the lucrative market of short-term real estate investing. In REI, having a network of buyers and sellers is crucial and neophyte investors know this.

This – the lack of sellers and buyers list – however, should not deter your from carrying on with your deals. Cash buyers are present in today’s REI market. All you need to know is how to find them. Finding cash buyers is not as difficult as splitting an atom.

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The Soccer World Cup kicks off today in South Africa and we in real estate investing could care less. The Locally, the MLS has yet to reach the rank of NFL or NBA. But whether you like soccer (called football in most parts of the world) or not, you better learn some REI stuff from the national soccer team.

Team USA players, with some divine assistance, and if they defy odds to win the World Cup, will pocket $20.6 million of the $31 million prize. That’s around $895,000 for each of the 23 players in the squad! Even leading teams like Spain and Brazil don’t plan to give that much to their players. But hey, it’s this country’s way giving incentives. While you can’t give away that much as incentive in real estate investing, you can borrow the idea and tweak it a bit.

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Real estate investing marketing should always be sharp. In many cases, the buyer chooses one house over the other because that property was better marketed. Many real estate investors skip lessons on local codes but spend a significant amount to learn about REI marketing. To get this point, learn from the owner of Pres. Barack Obama’s former apartment in New York City.

The landlord advertised the property on Craigslist with the title “EXCLUSIVE TOUR TO WHERE PRESIDENT OBAMA LIVED.” Click on it and you’ll be directed to a page that says “~~~~OBAMA’S APARTMENT WHEN HE ATTENDED COLUMBIA UNIVERSITY~~~ LIVE LIKE A PRESIDENT!~~~” Now how often do New York City apartments land on the news just because they are for rent? Now this is sharp REI marketing.

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A fellow investor recently blogged about fatal mistakes in the field of real estate investing.  I couldn’t help but comment on two of the many things he brought up. These two things are perhaps what most new real estate investors are guilty of, unfortunately. These two things have something to do with avoiding money pits, or houses that end up eating your budget.

Ready to hear your “crimes,” real estate investors? The first one is purchasing homes without proper inspection. So you think tinkering with the property’s parts on your own will do the trick? Sometimes you think the property looks good but a few weeks into rehabbing it, you discover that all walls have been infested by termites inside. You didn’t know it, and it’s unfortunate and more importantly, costly.

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People who thought the late Steve “The Crocodile Hunter” Irwin was crazy, probably had a point. Why risk your life with the giant reptiles. But the Australian icon probably saw something about the creatures that amazed him so much. Now, scientists revealed something about crocs that Irwin would surely be proud of. And real estate investors would be amazed. Call it something cold blooded, but the recent discovery about these predators can be, in a way, a good REI motivation.

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In real estate investing or any other field and life in general, health is always wealth. You’ve heard of it time and again and you hear it every now and then. But it’s something real estate investors tend to ignore. And yours truly is guilty as many of us are.

This came to light as a friend and fellow investor talked about reasons why we go bankrupt in this country. He read it from an online magazine just a few weeks ago, and asked me to guess what the No. 1 item on the spot was. I chanted “Credit card. It has got to be credit card. Final answer.” Shaking his head, he responded, “hospital bills.”

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When news about a demographics expert interviewed about the “American Dream” came out, it just occurred to me that he was going to say what I wanted to hear: that the American Dream will not be downed by the problems brought by the 2007 housing crisis. Real estate investors know this, despite having little fears.

American Demographics magazine founder Peter Francese said: “The culture of America is the single-family dwelling, period.” According to him, culture is unlikely to change that fast. In short, if Americans will shun the idea of home buying for good, it would probably happen decades from now.  That makes real estate investing a viable business at least in the next few decades.

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