The most important reason for buying rundown ugly units is that you can quickly add value to them. You will be able to buy cheap and sell for a profit in the shortest possible amount of time. You can also increase rents and develop a positive monthly cash flow much faster. Making your own improvements, you can force the value up. Upgrading automatically increases a property’s value. You don’t need to wait for appreciation as the only way to make your profit.
Higher Cash Flow Almost Immediately
With fixer-upper real estate, often a simple clean-up and painting, together with a change of tenants, will get you higher cash flow almost immediately. With the increased income, you now have a more valuable property. Several of these deals can pump up your equity and allow you to build wealth quickly. I call this “fast-track” investing.
Another advantage of buying and working on ugly properties is that you won’t be afraid to experiment and can learn on the job the skills you need. You’ll learn to do some things you never thought you could and the experience will be invaluable as you continue to build your wealth.
Perhaps the most important benefit you get is confidence in yourself. Once you experience positive cash flow coming in, you begin to realize, “Hey, this is me! I really can make great things happen.”
Multiple chapters in my training course, REAL ESTATE INVESTOR TRAINING, teaches you my adding value techniques.
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This NEW ONLINE COURSE, REAL ESTATE INVESTOR TRAINING is a road map for financing and fixing these properties.