OfflineWhen I first got started buying real estate I had it in my mind that I needed to find some fixer uppers, that way I could get them cheap. And because I was looking for fixer uppers that is what I found. Eventually I got tired of fixer uppers and decided one day that I was going to buy a house at a discount that needed little to no rehab. Guess what, that is what I found. I recommend, in this market, to look for good deals that need little to no rehab. Carpet and paint at most. You will be able to do more deals this way and have more time to look for new additional deals. Remember, if you put together 20-30 of these types of deals in the next couple of years and your average cashflow is between $100-$200 each per month, when this market turns you probably won't need your job anymore. You will have excellent cashflow and a very nice net worth.
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
anyone out there doing this in this area.. maybe we could talk????
I realized that myself and that is what I have been looking for - houss hat need little to no work to buy and hold and retire in the turn
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
I would always go after cosmetic rehab only, structural damage is extremely expensive and will pull the property off the market too long. And you are right, carpet, paint, new flooring the bath, etc. will more than justify a lower price.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
More important than looking for fixer uppers is finding people who are motivated. Suppose you found two properties. They are exactly the same looking. The houses are next door to each other. Both houses are up for sale.
The first house was not well taken care of. There is junk in the yard, over grown grass, missing shingles, ugly carpet and holes in the walls. The owner knows that to sell the house he will have to lower the price.
The second house is pristine. There is absolutely nothing wrong with the house. The wife who lives at the house is a perfectionist and will not let dust fall on the floor without her picking it up. However, they are getting divorced. The husband and wife cannot own the house independent of each other and they need to move yesterday.
Both houses will accept the same price on their houses. Which would you rather have? - The divorce house of course.
Look for motivation above repairs.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125