Fixer Jay’s Mom & Pop Millionaire Blog

Fixer Camp is where it all started for Dan. In fact, he’s attended 3 times since 1991 — And no, he’s not mentally challenged! If he is, he’s the richest “challenged” investor you’ll ever meet. The truth is — Dan was brand new when he first showed up! Twenty years working as a computer salesman is not exactly the perfect background training for a real estate millionaire.

“Earning a predictable income has always been very important to Dan - he now earns income around the clock - even when he’s sleeping.

Dan’s investment career took-off like wildfire after he attended a Fixer Jay Seminar in the early ’90’s. With many income-producing houses under his belt - any worries about his financial future have all but faded away. Jay recently asked Dan to share some secrets with Mom and Pop Millionaire Blogger’s. Dan recalls his Miller Street property.

Click on the video below for a brief introduction to Dan Shea:

Some people try to avoid problems in their lives. However, I will suggest to you, that in the world of real estate investing, finding and solving problems can put money in your pocket. Remember, problems usually will cost the property seller a lot of money. However, as a buyer, problems can be disguised opportunities. These problems don’t need to be so big that you need engineers and heavy equipment operators to fix. You will be able to fix them for only a few dollars. These will be problems that others overlook or choose not to address.

Most homebuyers are NOT investors. They are looking to buy nice trouble-free homes. They will tend to run away from problem situations. I am not talking here about Junker fixer-upper houses. I am referring to simple entry-level houses, at the more affordable end of the marketplace. Find problems that others avoid that you can fix and make better.

 FLAT ROOF, CLOGGED DRAIN, BAD FLOORPLAN AND A DUMP NEXT DOOR

How appealing does that sound to you? Well, I bought my Miller Street house with these problems. It was about 40 years old. It was listed as a 2 bedrooms, 2-bath home with an “extra room and bath in the rear”. It was vacant, and in OK, but dated, condition on the inside. It had a flat roof. Older houses in this area, with flat roofs, tend to get very hot inside during warm weather. The real estate agent also told me that the neighbors informed him that roots, from the big tree in the front yard, periodically clogged the main waste line.

Over the years, someone added a bedroom and a half bath to the back of the house. But the problem was that you had to go outside of the main house to get access to it. And finally, the house next door was a big eyesore- A REAL DUMP. It had piles of junk and old cars on the front lawn, the siding was falling off, roof shingles were missing, and it was painted an ugly rust color.

This house was actually listed with a real estate agent and had been on the market for 24 months when I first saw it. This is what you call a STALE LISTING in the real estate business. Agents had pretty much stopped showing it to clients. They just did not want to waste their time. Why did I want these problems? Because I could see the profit in it for me. I could fix and rent the house, problem-free, to a nice family. There were not expensive structural problems and the overall fix up costs seemed to be minimal I figured that for $3,000 to $4,000 I could solve most of the problems with the house and make it more desirable and profitable.

FOR ME IT WAS LOVE AT FIRST SIGHT

Here is what I did after I bought the house. Flat roofed houses retain a lot of heat. I took out the small inefficient window air conditioner in the living room. These tend to cool only one or two rooms and do not cool well if it gets too hot outside. I then cut a hole in the living room wall and had a big evaporator cooler (swamp cooler) installed. This cost about $700. The new cooler blew lots of cold air in to cool down the house. I then had the main sewer line snaked in the front yard to remove the roots of the big tree. I could have dug up the lawn and replaced some of the pipes, but the snaking was a more simple way to go. I did realize that I would have to have this done at least once a year for a cost of about $100 each time. Maybe some day I will get around to replacing part of this line. In the meantime, my tenants are happy.

I camouflaged the ugly house next door by having 40 feet of wooden fence installed on the property line in the front yard (the back yard already had a wooden fence hiding the eyesore next door). This cost about $600. The neighbor’s ugly house was still there, but it was hidden a little by the new fence. Keep in mind, that if you were looking to buy this house, you may not want to live next to an ugly eyesore. However, renters will look at the same situation differently. They want a nice place to live, but are not concerned with issues that affect the property values in the neighborhood.

K.I.S.S. — KEEP IT SIMPLE STUPID

Now I had to address the next question, “How do I solve the flawed floor plan”? Remember, you had to go outside to get access to this extra bedroom and half bath. I came up with a simple idea that required about $400 for a door and a little labor. I cut a hole in the bedroom wall of the main house that gave me access to this extra room. I had a pre-hung door from Home Depot installed and painted. This door came with the hinges and door jam in one piece. The “back” bedroom and bath were now part of the main house. Yes, now you did need to go thru the bedroom in the main house to get to this extra bedroom, but my tenants have never complained.

I also did one other MONEY MAKING FLOOR PLAN CHANGE. The attached garage in this house had previously been converted to a family room. Since the house already had a good size living room, I converted this family room to an additional large bedroom. I put in a closet with some nice, inexpensive, sliding mirrored-glass doors. For about $800 of labor and material I now had ANOTHER BEDROOM. My original 2-bedroom house now had 4 bedrooms. Keep in mind that I did not add any new walls or change the footprint of the existing house. I was just looking for ways to increase the value of my investment QUICKLY. Adding an extra bedroom in an existing floor plan can mean MONEY IN THE BANK FOR YOU.

The major problems of this house were addressed and the cost was very reasonable. For the expense of a cooler, a plumber, a pre-hung door, a little fencing and some closet doors, the problems are now gone or at least addressed in a satisfactory way. Remember, that MOST PROBLEMS ARE TEMPORARY and probably not as bad as you may think. With a little creativity you can get rid of them and put money in your bank account at the same time. You will start to get good at identifying problems that you can inexpensively fix. You will actively start looking for them, because you will get more confident as you solve them. Once again, the MAJORITY OF BUYERS ARE LOOKING FOR HOMES WITHOUT PROBLEMS. You eliminate a lot of competition by looking for problems that OTHERS ARE TRYING TO AVOID.

FORCED APPRECIATION CREATES PROFITS

When I bought the house it was 2 bedrooms, 2 baths home, with a separate bedroom and toilet in the rear listed for $55,000. I simply turned it into a 4 bedroom 3 bath home that at the time, in that neighborhood, in that condition, was selling for about $90,000. This $90,000 is NOT BASED ON MARKET APPRECIATION. It is just the approximate value of the house at that time if the problems we have been discussing were addressed. My cost of fix up was about $3,000 ($700 for the evaporative cooler, $100 to snake the pipe in the front yard, $600 for front fence to hide the neighbor’s ugly house, $400 to punch a hole in bedroom wall and add a door to get access to the bedroom in the back, $800 to change the family room into a bedroom and about $400 in additional painting).

This $3,000 increased the value of this simple rental house by about $35,000 ($90,000 worth for a simple 4 bedroom, 3 1/2 bath house, less the $55,000 that I paid). Not a bad paper profit for a relatively simple and quick project. Not a lot of labor, not a lot of materials JUST A FEW SIMPLE, PRACTICAL IDEAS. These were all things that were done right away and did not involve anything very complicated. We did not have to change or move any electrical outlets or plumbing.

You do not have to be a contractor or be much of an expert at fixing things to actually solve problems. In fact, to give proper credit here, most of the problem solving ideas for this project came from my handyman. You see, he fixes things EVERYDAY FOR A LIVING. He looked at my problems as an ORDINARY DAY ON THE JOB. If you have a challenge that you can’t solve, ask your contractor, handyman, plumber, fellow fixer, the clerk at the hardware store, etc. You don’t need anything too complicated to make money-solving problems.

IF THIS IS SO SIMPLE AND PROFITABE, WHY DOESN’T EVERYONE DO IT?

The answer to this question, as it relates to the Miller Street house is, “BECAUSE THEY JUST DON’T”. This property was on the market for 2 years. No one saw, OR ACTED UPON, finding solutions. Yes, it turned out to be profitable, but no one else did what I did. I said earlier that one did not need an engineer or heavy equipment operator to solve the problems with this house. Other people saw the same problems, choose not to address them, and went on to find a different problem free house.

YOU WILL BE PAID WELL TO SOLVE PROBLEMS.

 Look for old, stale listings. Ask your real estate agent or look in the classified ads. For a profit of $35,000 like this Miller Street house, you can afford to spend some time looking for a similar deal. You need to CHANGE YOUR MINDSET ABOUT PROBLEMS. If you are looking to buy houses without problems, you are competing with the MASSES looking for ‘nice houses”. If you are actively looking for properties PROBLEMS, you are ON THE WAY TO MAKING SOME SERIOUS MONEY.

Tags: Fixing For Money, Success Secrets by FixerJay
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The. colorful and most unlucky bank robber, Willie Sutton, was once asked — Why do you keep robbing banks when you always get caught and tossed right back in jail? Willie’s reply — “Cause that’s where all the money’s at!”

People often ask me why I still keep fixing rundown houses when I obviously have enough money to buy more attractive and cleaner properties.  My answer is just like Willie’s — Cause that’s where all the money’s at!

REMEMBER - IT’S THE BOOKS “NOT THE LOOKS” THAT COUNT

Folks who have little experience in the fix-up business will often incorrectly judge a property by how it looks rather than by the benefits it will provide.  You should Stop and ask yourself every now and then, what am I doing in real estate?  Do I want properties that look good? — Or do I want properties that pay good?  There must be no confusion about what your goal or purpose is if you wish to be successful.

One of my first recommendations, especially for new investors, is to sit down and plot out exactly how much money you’ll start getting back each month, once you become the owner of a property.  Do this exercise before you buy - not afterwards!  People who purchase single-family houses often skip over this drill.  If they were to “plot out” negative cash flows month after month on a sheet of paper where they could stare at the depressing negative numbers, I’m sure many would avoid the heartaches of doing “dummy deals”.

FIXING UP HOUSES - EQUAL OPPORTUNITY FOR ALL

After doing fix-up for so many years - I must make a confession!  Fixing is much more satisfying and rewarding to me than buying the newer sweet-smelling more expensive houses, although I do own some now.  Let me simply make this observation about newer houses.  They provide an excellent vehicle to reduce excessive cash flow.  Also, if you have a problem with too much cash stacking up in your safe deposit box.  Newer houses, with high monthly mortgage payments can quickly eliminate the problem.

Someone recently reminded me that newer properties have other qualities just as important as cash flow!  They instill a great sense of “ownership pride”, they told me.  I’m a bit reluctant to buy that argument, but I will concede that money’s not everything, so let’s move on to some other stuff!

There are those who incorrectly believe that fixing houses is a job that only experienced carpenters or contractors can do.  Nothing could be further from the truth.  Almost anyone can do this job.  In the final analysis, it matters very little who performs the physical “fix-up” work, so long as the right things get done.

Owners doing their own fix-up work will only enjoy a money saving advantage, if they fix the right things at the right time.  Both are very important.  As you shall learn KNOWLEDGE is what makes the big money.  Swinging a hammer or swishing paintbrushes will merely earn you average wages or save a few bucks in the short run.

Frequently - two questions always “pop-up”. So let’s get them answered so they’re out of the way.  First, does fixing up houses require any special licenses or professional skills? — And second, can women succeed in the fix-up business just as easily as the men can?

FIX-UP SKILLS EARN AVERAGE WAGES - KNOWLEDGE IS WHAT BUILDS FORTUNES

As a general rule, no licenses are required by owners who fix up houses for themselves.  However, if you do it for someone else, for example; as an employee or independent contractor - that’s different!  It’s very likely you will need a license to be perfectly legal.  Remember, this article is not exactly the best source of information about doing everything perfectly legal after all, you’ve never seen a rich cop have you!

Having fix-up skills can certainly be an advantage because it’s one less thing you’ll need to learn about.  But, having said that - I’m gonna tell you something you should definitely underline — And never-ever forget.  It’s very important information because once you clearly understand and accept it; you can direct your efforts where the money’s at. BIG PAYDAYS DO NOT COME FROM FIX-UP SKILLS - THEY COME FROM REAL ESTATE SKILLS AND SPECIALIZED “HOW TO” KNOWLEDGE. When I first started out in this business, I had no idea how important this really is — Although now, it makes perfect sense to me.
To illustrate my point — Just think about all the thousands of licensed building contractors who can do almost anything to a building.  They have plenty of skills!  Now think about what most of them don’t have plenty of! If you answered money — You’re right! Believe me when I tell you fixing skills alone are not enough if you intend to make big money in this business.  Don’t decide that fixing houses is not for you because you can’t stop a toilet from running — That ain’t where the money’s at!  Let it run while I tell you what to do.

THE WOMEN’S ADVANTAGE SHOWS UP

Fixing houses is definitely equal opportunity! The job is not gender sensitive, with perhaps one small exception.  I think women understand living space better than most guys I’m acquainted with.  For example - cupboards and closets, cabinet space and electrical outlets in the bathroom.  My male fixer team often ignores or overlooks the importance of these items.  They are often called to our attention when a lady renter calls to complain about only one cabinet or not enough electrical outlets for all her bathroom goodies!  Women seem to have a natural instinct when house remodeling is involved and I suspect this comes from their homemaking abilities.  I have caught my fix-up crew building a bedroom closet just large enough for 3 wire hangers.  Women fixers seem to know better than that.

CHANGING THE LOOKS ALWAYS ADDS VAULE THE FASTEST

It’s not by accident that I always begin my fix-up projects in the front yard.  I’ve seen professional appraisers value identical houses as much as $10,000 difference because of plain old filth and junk on one property.  In other words, a clean house is worth $10,000 more simply because the owner hauls away the trash and keeps the house looking nice.  Think about that for a minute!  That’s a lot of money for ordinary clean -up skills.  Suppose it takes a whole week (40 hours) to haul away garbage and clean up a property — That’s $250 an hour, or nearly as much as a brain surgeon gets on his days off!

All fix-up work should pass some financial scrutiny!  Does it really need doing?  I believe most improvements should be justified on the basis of paying for themselves.  I expect the payments to come from higher rents or bigger profits as my reward for doing the work.  Fixing or changing things around purely on the basis of personal likes and dislikes will seldom provide a justifiable “mark-up” (profits).  Those kind should be avoided. This happens to investors who quickly charge forward without a plan.  It also happens to folks who fall in love with investment property.  I advise -you. — Be very careful and avoid these common pitfalls.  Remember, fixing up dumpy dirty houses is not glamorous work.  But, if you do it right, it will pay you better than anything else I know of.

RENOVATORS - REMODELERS - THEY ARE A DIFFERENT BREED

I discovered there is no inexpensive method to turn older houses into new houses.  Many amateur fixers try to accomplish this task only to find their bank account disappears faster than the house changes.  Here-in lies the most important difference between what I do and what remodelers and renovators do.  Believe me, it’s a very expensive difference too!
Often remodelers will replace entire plumbing systems with all new piping.  Sometimes they have the entire house re-wired.  They tear out old flooring and replace floor joists and girders.  They replace wood windows with new metal frame styles.  Some will even jack a house up to level it.  That means they must also fix all the cracks and often re-do the stucco exterior.  Don’t do fix-up this way.  Unless money is not the object — You’ll lose your shirt if you do.

CREATING HOMEY ATOMSPHERE - THE SOLUTION

Since older houses are not the same as newer ones, don’t try to make them so.  Instead, try to capitalize on the marketable features, not found in the modern day construction.  Older houses quite often radiate charm — A homey feeling!  High ceilings, woodwork, large porches, yard space, old windows (dressed up), evaporative cooling with separate heating, storage sheds and separate garages and more often than not, mature shrubs and trees.  All these items can add to the charm of older buildings. Add a freshly painted white-picket fence after everything else is cleaned and “spruced up” — You’ll have lots of customers — Renters or buyers, depending on your investment plan.

When I talk about fixing for dollars, I’m primarily referring to what I call, “sizzle items”.  Things like white-picket fences, fresh paint, window coverings, ceiling fans, wall paper, new plastic counter tops, (Formica), attractive floor coverings, planters, shower curtains, decorative porches or entrance doors, trees & shrubs, green lawns, new faucets, modern toilets and new plastic shower enclosures.

The reason I call these sizzle items is because they are attractive and eye appealing, as well as useful.  Sizzle items seldom have anything to do with code problems.  For example, old dingy carpet will pass a code inspection same as bright new carpets.  Trees and shrubs have nothing to do with codes or safety and neither does curtains or ceiling fans.  What these items have is lots of customer appeal.  This appeal translates into big dollars at the box office, aka (my rental office).  The very same appeal makes selling your properties much more profitable because they look better.

PROFITABLE FIXING BOILS DOWN TO - WHAT’S IT COST

Since almost every problem can be patched-up, repaired or replaced by skilled mechanics, it becomes necessary to further qualify fix-up work in terms of the economics, “How much will it cost?” This information will help you decide how much work is too much — And when it’s best to simply pass over the deal and move along to the next on.  The fix-up-investor must be concerned with fixing for profits.  Not just fixing.  This is a very important concept — One you must never forget.  The two worst mistakes for beginning fix-up investors are OVER-FIXING and FIXING THE WRONG THINGS.

Tags: Jay's FooFoo Fix-up Strategy by FixerJay
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You can smell it in the air - something is dead!  Real estate investors and all those who wanta be are just about to find out, so let me spill the beans right now!  It’s the seller’s market that’s died.  After a spectacular six year run, it’s over, and it’s dead!  A brand new cycle is dawning!  Remember how hard it’s been to get cash flow - even when you pay a super-large down payment?  That’s all about to end for those who learn how to shop wisely.  If you will develop the skills so you can take advantage of the changing cycle, you’ll be riding high in the saddle just in time for the next seller’s market, I promise!

SEIZING THE OPPORTUNITY

By far, the biggest profits are made when the general public is convinced that real estate has gone sour! The so-called bubble has finally burst! Skilled investors, on the other hand, are licking their chops in anticipation of a new gold rush!  A dead seller’s market can be the opportunity of a lifetime.  For some, it may be the very first chance to enjoy the feel of cash flow investing.  Going with the flow - I call it! It’s a valuable lesson I teach every student at my Fixer Camps and One-On-One Counseling visits.

BUILDING YOUR MONEY MACHINE

Acquiring properties in a buyer’s market is how you get cash flow to start with, or shortly thereafter!  Terms like seller financing, a promissory note for the down payment and shelving a portion of the equity to pay at a later date are not unreasonable terms to motivated sellers.  Their realtors might not understand, but I’ll guarantee you, sellers do!  These are the very same methods I’ve used for years to build my personal real estate empire.  When you see my properties at a FIXER CAMP, you’ll be looking at a “time-tested” money machine!  My houses produce cash flow, year-around regardless of what cycle we’re in!

TODAY IS TIME TO PLAN FOR YOUR FUTURE

If I had a nickel for all the telephone calls I get about “lopsided investments” - callers wanting to know how to get relief or somehow dump the properties they have, I’d be rich enough without owning any houses! No houses - but a football stadium full of nickels.  Today, investors can begin to make things right for themselves!  Buying properties with a sky full of buzzards is different than business as usual. You must learn how to ask for - and negotiate the benefits you need.  Cash flow allows you to keep your properties - and more importantly,  keep the money spigot running.  At FIXER CAMPS, I teach students how to sell for top price and create attractive seller financing with added security to protect yourself.  A 100,000 dollar promissory note will pay you back double over 20 years.  Just one or two deals, the way I teach, can easily double your retirement income

THE RIGHT TEACHER IS MOST IMPORTANT

Smooth-talkers and genuine investor can be one in the same, but it’s very rare indeed!  Real estate investors can show you their properties like I do at my FIXER CAMPS and personal ONE-ON-ONE training.  Real investors who teach about investing should have a few students doing what they’re taught - otherwise something’s wrong with the teaching! Here again, I have a high percentage of successful students who actually invest.  Also, I’m willing to give you a couple names if you’re dead-set about learning!  Finally, there are several ways you can check out legitimate teachers!

One quick easy to use service offers a comprehensive evaluation of every real estate guru in the nation.  It’s a website operated by well-know real estate entrepreneur-author John T. Reed in Alamo, California, www.johntreed.com.  Naturally, satisfied customers and word of mouth will always trump most other sources. Once again, I’m happy to provide names of several investor students (with their permission, of course).

Tags: Vision of Opportunity by FixerJay
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Several years after I became a “Full-Fledged” landlord, I found myself trying very hard to make my tenants happy to live in my houses.  I didn’t realize it then, but this will never happen!  It seemed like the more I tried to please, the more my tenants wanted.  For example, some tenants rented my economy units that had no carpets.  Several of my lower income houses have carpets in only the living room and hallways. Immediately the tenants began asking for carpets in the bedrooms too. Several asked if they could repaint because they didn’t like my colors. I always use a basic off-white paint inside.

Many of the requests I got involved lots of dollars.  They would ask for rear yard fences -where none existed when they moved in.  What generally happens in this case — They  acquire a dog or decide to baby-sit small children in the backyard for extra income.  Don’t misunderstand what I’m saying here — I’m very much in favor of rear yard fences,
front ones too for that matter.  What’s missing in all of these requests, however, is the “CONSIDERATION”.   That’s the contract term for the extra money.  The question is who should pay for these special add-on requests?  I agree that houses without carpets are like cheeseburgers without fries.  But as you probably already know — McDonald’s charges extra for fries — And so do I for more carpets.

LANDLORDING IS A PEOPLE BUSINESS

Operating rental properties and dealing with the tenants are not separate jobs.  The fact is they’re inseparable parts of landlording.  I owe most of my real estate success to my landlording abilities.  Some folks don’t agree with me on this issue — They argue that professional property managers get paid a handsome percentage of the gross rental income to relieve owners of this thankless task.   Many owners end up relieved of there property instead!

The good news is — Owner-landlording is a profession that will help you to achieve financial independence and a quality of life second to none if you choose to participate.  A long-time investor friend of mine puts it like this — “If you are comfortable with the role of ownership and management, and don’t allow yourself to be intimidated by the responsibility for setting down the rules by which tenants may live in your properties, you will find as many others have — That owning and operating small rental properties provides a vehicle for self-employment and self-expression that is difficult to match in our society today. ”

BESIDES MAKING MONEY, being a successful landlord provides many sought-after personal benefits.  For example, you can provide an excellent quality of life for yourself or your family.  You can live anywhere you choose and set your own work schedule.  You can spend additional time with your hobbies and do those personal things that never get done when you work for someone else.  Being your own boss is the envy of every W-2 wage earner.  Just about everyone dreams of making a big income working for themselves.

I know many small-time and medium-size property owners who consistently earn $100 an hour and even more doing landlord work: Landlording is the key ingredient to making big money for “Do-Lt-Your-self” investors.  Owners of small rental properties who don’t learn landlording often throwaway a fortune because they allow the tenants to run their business and their buildings.  That’s a very poor choice, believe me!

TENANTS CAN MAKE OR BREAK A PROPERTY

It’s my Opinion that small real estate operators fail much too often because they never learn or understand landlording.  Almost all investors I’m in contact with are owners of houses and small apartment buildings. Even if your basic investment strategy is to buy, hold and sell — Tenants will normally be involved in the process.  Tenants can make or break a property.  Owners who pay little attention to landlording skills are basically allowing property managers or the tenants to have control over their investment dollars.

I can assure you based on my own personal experiences — A dumb landlord is absolutely no match whatsoever for the liberated “Rock-N-Roll” tenants of today.  You gotta know your stuff, now - — Because the tenants know theirs.  Remember this important fact Tenants are the lifeblood for a landlord.  Tenants are a landlord’s customers.  Almost every business has customers.  They are a very necessary and vital part of owning and operating rental properties because they supply the revenue. Obviously a landlord’s problem would be extremely serious if he or she didn’t have tenants to pay the rents.

As a rule, most small investors I know attempt to build their real estate portfolios with a small amount of cash and a large amount of personal effort.  This is what I teach because it’s the same method I use.  Unlike the cash rich syndications, small investors substitute personal skills in lieu of money.  They have the advantage of learning the landlord job from the bottom up — By doing it themselves.

ALWAYS TAKE CARE OF TENANT BUSINESS PROMPTLY

Good landlord’s always act first — Rather than re-act later!  Don’t fight and argue with tenants anymore than you would fight and argue with your boss over work requirements at your job.  Obviously discussions are all right, but fairness should always prevail.  Landlords are the bosses of houses.  They make the rules for tenants who live there.  Never compromise the issue of WHO’S IN CHARGE.  When tenants have the upper hand living in your rental property, you’ve got serious problems.

How do I know this, you ask?  At least half of the properties I own today were purchasd fom highly motivated sellers wo wanted more than anything else to get away from their tenants.  I made that possible for them—But at a reducd price of course!

Most beginners don’t fully understand the true value of learning to be a good landlord.  As you may have guessed by now — It’s a serious business.  Not only does it involve the daily management of your tenants — It also has a great deal to do with your long-range real estate profits.

LANDLORDING CAN BE LEARNED VERY EASILY

One of the many advantages of owning and operating rental houses is that individuals without any special skills or advance training can become very successful by substituting personal efforts (labor) instead of spending money to hire things done.  It often takes new owners twice as long to do a job, but remember it’s also training, in addition to the owner’s “free labor”.

You don’t have to agree with me about any of this. You don’t even have to like it –Please keep an open mind.  Someday if we meet, you may even thank me for the help.  Hands-on operators, the do-it-yourselfers, can put the big guys to shame in terms of building net worth.  Call it tender loving care if you wish or whatever else.  Nonetheless, it works!  There is indeed a great deal of truth to that old Chinese proverb which says ___ “The best fertilizer in the world comes from the owner’s shadow.”

Tags: Landlording Success by FixerJay
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