Fixer Jay’s Mom & Pop Millionaire Blog

Have you ever wondered what it might be like if you didn’t have a regular job? I don’t mean you wouldn’t go to work anymore — What I’m talking about here is working for yourself instead.

Working for yourself is different! To start with, the more effort you put out, the more you’ll benefit yourself. Think about that for a moment. Usually it doesn’t work that way. When you are an employee, more often than not, your extra efforts only benefit the company. That’s one very important difference when it comes to achieving your personal financial goals.

For example, when I fix up rental houses for monthly cash flow or to sell for a profit, all the money I earn from my efforts is mine to keep. When you work for someone else, it’s not the least bit uncommon to make thousands of dollars for the company — And yet profit very little extra for yourself.

I often explain this earning discrepancy to real estate agents who ask me if I think owning properties is more profitable than simply selling them. Let’s say I purchase a $100,000 income property for $80,000. When I buy the property through my agent, he will earn a 6% commission or $4800. Generally he only gets to keep $2400 for himself — But that’s it!

My earnings are a whole lot different. First, there’s my $20,000 of non-taxable upfront profit or discount for having the “know-how” to buy at less than’ market value. Next, I’ll probably “fix up” the property, raise the rents and enjoy monthly cash flow. Finally, I may choose to do a three-year lease/option agreement — Selling the property for $120,000 by offering very attractive terms.

It doesn’t take a mathematical genius to see that by working for myself, I have substantial financial advantages. I have the flexibility of earning money in several different ways. In the example above, my agent nets $2400 while I will profit $40,000 on the very same property. That’s almost 17 times more profits. Needless to say, it’s also one of the secrets to becoming financially independent in the shortest possible time.

Tags: Fixing For Money, The Big Picture by FixerJay
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Today can be the first day on the road to your financial freedom! Now more than ever, income real estate will work for newcomers and “old salts” alike. A collapsed housing market, coupled with failing mortgage lenders, has created a depressed market, ideally suited for small-time do-it-yourself Investors. Why is this good – you ask?

To begin with, income real estate like duplexes and small apartments are caught in the downturn same as the houses we live in! The big difference however rental units earn you money – houses cost money! Since the general real estate downturn includes all real estate, houses and income units alike, an extraordinary lifetime opportunity presents itself!

Rents are actually increasing as more homeowners lose their houses and are forced into renting. Income property prices have shrunk to 20 year lows, just like houses, however; the financing for older rental units that I mostly recommend, can now be negotiated between the buyers and sellers. In other words, we’re once again back to seller financing where cash flow can be automatically structured in the deal. No longer are small-time Investors stuck with what the bank says.

If the train left the depot without you before, this is your time and opportunity to catch up! You can now buy properties with seller financing and cash flow that make sense. For many, it’s a second chance to buy real estate that can lead to financial freedom. Today, you can often start with cash flow, build a second income and even switch to full-time real estate investing. It’s truly the perfect real estate investor storm. The opportunity is right now! It’s time to learn the basics and get started without delay!

For working folks, these are very depressing times! Nationwide, employment layoffs in nearly every industry, retirement plans (401K’s) shrinking everyday and health care safety nets simply disappearing with the jobs. Even retirement savings accounts, the piddly interest earned is less than inflation.

Right now is a perfect time to consider Income-producing properties! Done correctly, these properties offer fool-proof Investing – plus the Income (rents) is indexed to regular living costs, which provides protection against inflation. For W-2 wager earners attempting to save money for retirement, acquiring small apartments offers the perfect business opportunity.

To start with, whatever amount you have to Invest can quickly be multiplied with safety, This Is extremely Important because many so-called retirement plans linked to the depressed stock market continue to collapse, dumping your dollars as you read this letter. Extraordinarily high investment returns of 20-50% are not the least bit uncommon for leveraged real estate – and when your transactions are properly structured, all positive income can be sheltered from Uncle Sam’s tax collectors.

Perhaps the most significant benefit for ordinary working folks who are concerned about their future is that affordable rental houses and small apartments can provide a quick alternate income. Also, Income property equity builds much faster than traditional savings plans because affordable houses are always in demand. Additional income, equity growth and increasing cash flows offer the best guarantee that you’ll be able to enjoy the comfortable retirement you deserve and are counting on!

Tags: Getting Started Ranks First by FixerJay
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Every time I attend a “How to Get Rich Quick in Real Estate” seminar, I’m told by some speaker in a pinstripe suit that I should always rent my properties to “blue-collar” tenants with good credit ratings. There is one exception, they claim. It’s all right to rent to senior citizens with an adequate pension income or a regular monthly social security check.

I suppose that’s good advice but I also suspect the speaker doesn’t depend very much on rental income to buy groceries like I do. Obviously, the questions I have, along with thousands of other small-time landlords are:
What happens if I can’t find tenants in those two categories? What if my properties don’t attract blue-collar workers or senior citizens? The last seminar- leader I tested those questions on tried to avoid me at first. When I kept on asking, he sorta turned the other way and tried to pretend he didn’t hear my question!

MOST RENTERS PAY THEIR RENT

Contrary to the landlord-tenant “horror stories” we’ve all heard about, most tenants who agree to rent your property will also pay their rent. This fact eliminates about 95% of your collection worries. Trust me on this, I have enough tenants to prove it. The big problems are caused by the remaining 05% who can literally destroy your life! It’s the old story about one rotten apple in a barrel and unfortunately, “destroy your life” is not too strong a term for what can easily happen when innocent, but “dummie” landlords do battle with “ring-wise” deadbeats.

To begin with, the “playing field” is not exactly level. Deadbeat tenants. are entitled to use many “free-bee” services, starting with specialized legal assistance. Usually a local legal aid society or the Civil Liberties Union is available for the asking. Also, the court system is different for’ deadbeat renters. For example, most don’t pay a fee to answer complaints like ordinary citizens. They are granted a “fee waiver” simply by filling out the pauper’s form or a declaration stating they have no money to pay! I’ve never known or heard of a landlord being able to use this “non-pay” gimmick, even though I have known several landlords who filed bankruptcy because they couldn’t collect from “deadbeats”. To do well at landlording, it’s best to accept the popular myth that — ALL LANDLORDS ARE RICH, RUTHLESS, TYCOONS AND TENANTS ARE THE CIVILIZED WORLD’S MOST DEILBERATELY ABUSED AND MISUNDERSTOOD PEOPLE — With the possible exception of witches and “fortune tellers”!

Tags: Landlording Success by FixerJay
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If you’re “dead-bang” serious about real estate investing like I am — It’s time to “roll out” right now! There has never been a better time in 30 years or more to take full advantage of the current housing market. It’s a very simple proposition: if you own houses – and if you buy them right – your customers (tenants) will pay them off and you’ll end up a lot richer than you ever imagined!

Another thing that always seems to happen — A few years down the road, you’ll look back and see how smart you were! People are always telling me how lucky I am! Jay bought a bunch of houses when they were dirt-cheap! It was perfect timing, they say. I just grin a little! After many years investing, I’ve found that almost any time is the perfect time. The only thing lucky about my wealth today is that I jumped in headfirst and started!

With over 40 years of practice, I’ve perfected everything I do! I’ve become a very skilled investor. I pay the right price. I purchase only the kind of properties that will earn me money – and I buy them in locations where my tenants desire to live. Naturally, I must set the deals up to start with! I pay a small down payment and make the necessary improvements to add value. After that, my customers pay for everything else till I own the property free and clear! That’s fair, isn’t it? About all this lucky business they talk about — I’m totally convinced that good luck happens when you make the right decisions for yourself.

Speaking of decisions — If you’ve decided you need a little help or you’d like to improve your investment skills, take a quick peek at my latest book in major bookstores January 2009. The title, “INVESTING IN GOLD MINE HOUSES.” Chapter 1, THE MILLIONAIRES RECIPE, will show you how to change your luck forever – guaranteed.

Tags: Fixing For Money, Success Secrets by FixerJay
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