Fixer Jay’s Mom & Pop Millionaire Blog

Don’t forget this: Fix-up specialists are not remodeler, so don’t try to be one! Like I always say, you wouldn’t be happy with the money they earn. Playing house and remodeling tends to go together. Things like splitting up big rooms to gain an additional bedroom or dining room – also, making the kitchen big­ger, expanding the bathroom or changing the hallway around seldom pays off. If you’ll stop to think about these schemes, they are gener­ally a matter of preference or taste I More often than not, two people could never agree on rooms or configurations anyway. You’ll be money ahead if you keep things simple! Leave the house alone and simply clean it up and fix what needs fixing!

Fiddling around with the walls and room sizes can throw a house out of balance! For example: Changing a two bedroom house to three bedrooms likely means more people will Jive there. You might need more heat, cooling and electrical circuits. The bathroom and kitchen may be too small for larger families. Just one change could have a ripple effect. If you need more power and more heat – those things could easily cost more than any benefits you’ll gain.

Tags: Fixing For Money, Success Secrets by FixerJay
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Often you’ll find the biggest rewards are off the beaten pathway. This might be your first step towards “big bucks” and real cash flow. Try to think about investing a little differently. Isn’t it the folks with vision who always seem to get there first and make the most money? Followers are always lagging behind and are never quite certain about what they’re doing. Generally, they show up too late after the competition has “bid up” the bargain prices. Often, they get snookered into buying prop­erties using the “Greater Fool” theory. Many traditional investors have long since given up any ideas about making profits. They’ll be happy just to break even. Their biggest con­cern about the properties they own is getting their original investment back.

The big reward for house fixers who learn to solve ugly house problems is seller conces­sions. Sellers who have problems are highly motivated to make deals. It’s these deals that earn big money. There is no way to make “cash flow deals” with folks who might sell with enough persuasion. Terms such as seller financing and discount prices don’t come from sellers who are still proud of what they’re selling. For every “barn burner” transaction I’ve made there has always been a seller who has very few options to bargain with.

Allow me to clear the air about fixing houses for money. First, lots of people can fix up houses, but the majority come up short on the money part. They don’t earn much money for all their time and effort. People get paid for their skills. You won’t make a killing in the fix-up business from painting a house or hanging shutters. The house will look better, but your bank account won’t.

Following is a list of the top five conditions that create the biggest purchase discounts, the best buying terms and ultimately the biggest profit potential for us house fixers.

1. Ugliness: pigsty looks, tons of junk -discount range 30-50%.

2. People problems: unruly deadbeats, non paying-discount range 30-40%.

3. Older: junk, deferred maintenance -discount range 25-35%.

4. Rundown: out-of-state owners, tenant manager-discount range 20-30%.

5. Cosmetic fixer: needs paint, minor tune-up-discount range 10-15%.

Tags: Success Secrets by FixerJay
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For the vast army of “Mom and Pop” investors, landlording skills are the price you must pay to become lots richer than your snoopy neighbors. Granted, landlording is the most unromantic part of being a wealthy tycoon – but for aspiring real estate investors who wish to make it to the Promised Land – take my advice, learn about landlording at the same time you learn investing skills. Both are inseparable parts of your “becoming rich” plan.

WEALTH MUST INCLUDE RIGHT INGREDIENTS

To make the big bucks in this business, you must hold onto your rent-producing properties. Flip-flopping and selling off assets might sound a little more sexy, but its short lived at best. Selling works in direct opposition to retaining income, depreciation credits and avoiding the tax collector. Combined with appreciation, these are the main ingredients for wealth. Obviously, keeping properties requires handling the tenants, who pay you their money every month – but as your collections grow landlording becomes much more tolerable, and eventually, more fun!

YOUR EDUCATION NO MATCH FOR YOUR TENANTS

Finally, learning “street skills”, as well as rules and regulations in the book, will make your landlording job 100 times easier. You must learn enough street knowledge to gracefully handle tenant intimidation (#1 cause for landlord suicides). Also, you need to learn my special techniques for handling routine renter business by mail, as opposed to personal confrontations or obnoxious phone calls. You’ll totally fall in love with this technique – I promise

If you ask folks who are successful long-term real estate operators what made them that way – I’Il bet I can tell you their answer. It’s their ability or skills to handle the peqp1e who live in their properties! Do-it-yourself investors like me don’t become successful without landlording skills. No one is born with these unique set of skills, but it’s nearly impossible to succeed without them.

To make the big bucks in this business, you must hold onto your rent-producing properties. Flip-flopping and selling off assets might sound a little more sexy  but its short lived at best. Selling works in direct opposition to retaining income, depreciation credits and avoiding the tax collector. Combined with appreciation, these are the main ingredients for wealth. Obviously, keeping properties requires handling the tenants, who pay you their money every month – but as your collections grow; landlording becomes much more tolerable, and eventually, more fun!

JOIN ME ON FEB. 26 27 28 AT MY ANNUAL MANAGING TENANTS AND TOILET SEMINAR

FOR DETAILS – CLICK SEMINARS OR CALL 1-800-722-2550.

Finally, learning “street skills”, as well as rule, and regulations in the book, will make your landlording job 100 times easier.  This is where I can help you the most.  I have years of “tender loving” tenant management under my belt and I’ll share my triumphs, as well as some pitfalls. When you finish my seminar, you’ll have enough street knowledge to gracefully handle most tenant intimidation (#1 cause for landlord suicides). When you learn my special techniques for handling routine renter business by mail, as opposed to personal confrontations or obnoxious phone calls, you’re gonna totally fall in love with my training –

I’LL GUARANTEE IT!

Tags: Fixing For Money by FixerJay
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Many small mom and pop type investors give up the opportunity to make a ton of money and have a wonderful free come and-go” lifestyle simply because they never see the importance of learning to be a skilled landlord. You don’t become a skilled landlord when you acquire houses. You become the owner-that’s all! Skilled landlording will … take some education.

Basically there’s just two ways to learn landlording. You can learn from people like me or you can learn from the tenants. If you pay me 10 times more than I charge to teach you, it’s cheaper than learning this job from your tenants.

Every landlord should know and under­stand landlord-tenant laws in his own area. Once you know the laws, your fear of rent­ers or of being intimidated will vanish. An overwhelming number of property owners incorrectly assume these laws favor deadbeat tenants. I can assure you this is not the case, although sometimes it appears that way. Laws are mostly about equity. Remember, there are unscrupulous landlords as well as naughty tenants.

Landlords often find themselves in seri­ous hot water with tenants because they try to inject too much logic and common sense into tenant management. Logic and common sense have their place, but they seldom count for much where legal issues are concerned. For example, it is nearly impossible to effectively force your personal living standards and ideals on your tenants. To do so could seriously affect your sanity. What earthly good would it do to make a million dollars from your rental properties if your tenants drive you crazy?

Tags: Managing Tenants and Toilets, The Joy of Cash Flow Investing by FixerJay
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