Not every property that looks run-down, ugly and distressed is a gold mine in disguise. In fact, if you were to purchase many of the so-called “fixer-uppers” chances are very good that you’ll end up with only the shaft. I’m not trying to slow down your efforts to buy diamonds in the rough. What I am trying to do is help you understand that there is more to it if you intend to make any serious money doing this stuff.
In my own efforts to find fixer properties that fit my investment criteria, I’m constantly looking for specific problems or conditions. I want to acquire properties that, can transform into positive money-makers. This transformation can be the property’s physical appearance or it can be a restructuring of its financial condition. Also quite common for me is changing (removing) the people who occupy the property.
One of the most common examples I can offer is the case for buying only those houses that have concrete perimeter foundations. That’s good sound advice as a general rule. However, there are some exceptions. I just happen to own quite a number of houses that pier type foundation. They produce the highest cash flow of all my houses. The reason is simple. I only paid about 50 percent of what equivalent houses with perimeter foundations cost. As a result, the mortgage payments are only half as much. But the rents are about the same as my regular foundation houses. In terms of cash flow, I earn twice as much.
JUST RELEASED: After teaching my LIVE 3-Day REAL ESTATE INVESTOR TRAINING SEMINAR for 27 years, I just converted it to an online home study course with a BONUS……..
All 3 days of the LIVE seminar audio are included in 18 easy to follow chapters, 564 digital pages (all downloadable to view as a physical copy or create a course binder).
Click here for full details and the huge benefits this course can offer you.
Now, no cost of the LIVE seminar: Seminar fee, air travel, hotels, meals, rental cars ($2000 -$3000).
View on PC, Mac, table or smartphone, anytime anywhere
This NEW ONLINE COURSE , REAL ESTATE INVESTOR TRAINING is a road map for financing and fixing these properties.