I Recommend That All New Investors Become Specialists!
Naturally “fix-up” is my choice recommendation. The idea is to become the best at your specialty within your own investing community. Believe me; it doesn’t take long when you practice constantly. Ugly fix-up properties scare many investors away! They simply lack enough vision to see the gold mine hidden just beneath the surface.
When you acquire rundown real estate, then move in quickly and do the fix-up, you add immediate value! I often refer to myself as an ADDING VALUE SPECIALIST. When you buy cheap and quickly add value, you increase your equity much faster than waiting for appreciation or natural causes to do it for you. Fixer specialists force their equity growth… they don’t wait for it to happen. Buying at substantial discounts, then quickly making improvements is by far the fastest equity builder in the business and don’t forget – EQUITY IS REAL YOUR PROFITS!
Later on you may branch out and do other kinds of investing. But the early years, concentrate on being the very best at your specialty. It will provide your rock solid foundation and always serve you well throughout your career.