Fixer Jay’s Mom & Pop Millionaire Blog

Most renting and buying and decisions are made in the car going 20 MPH as prospective customers drive through the neighborhood for a quick peek! These drive-bys or quick-peeks are where you’ll make a sale or lose it. If your property doesn’t show well on the outside, most folks will simply assume it looks about the same way on the inside! This is why I always advise students to concentrate their efforts on fixing up the out¬side before they start on the inside. The only exception I’ll make is when it’s raining!

Exterior painting is one of the most produc¬tive jobs on the fix-up list. It’s not unusual to spend $1000″ painting and get back $10,000 or more in added sale profits. You’re accomplishing high leverage fix-up when you can spend one dollar – and get ten dollars back!

Most yard work really important here! These outside improvements I’m suggesting are not using very much of your fix-up budget. You can really leverage your fix-up plan with plain old “Grunt Work”. That’s my term for non¬-skilled labor. But, believe me; it counts just as much as the higher skilled stuff when it comes to making a bottom-line profit.

See the big difference at Jay’s fixed-up colony houses Oct. 15, 16, and 17 2010 at Fixer Camp.

Tags: Landlording Success by FixerJay
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After deciding where I wanted to go with my plan and choosing inexpensive fix-up houses as the vehicle to get me there, what about the risk involved? Shopping centers are high risk. Land speculation is more like gambling. Land can go for years without a payoff. Special-use buildings like airport hangers, bowling allays, auto factories and resorts can sink an investor faster than torpedoes sink a row boat if the tenant vacates.

It’s very important to stay within your means financially and to purchase properties you can personally handle yourself. If you do that, you can almost write-off the risk factor. Economical (cheap) rental houses and small apartment buildings will always have a waiting list of qualified tenants if you keep the properties attractive and in good repair.

Why Choose Investment Houses

According to HUD statistics, 50,000 lower income rental units are disappearing in this country annually. They are torn down for urban expansion; condo-mized and some just fall down. The reasons don’t matter much. The point is, they’re becoming scarce as hen’s teeth. First thing you know the Federal Government may start subsidizing landlords who own what’s left. Certainly that would make as much sense as paying farmers to plow their tomatoes under so they won’t flood the market place.

The risk of owning and operating rental houses is almost non-existent. That’s exactly what new investors need, no risk. Besides there are plenty of other things to worry about.

Tags: Develop a Business Plan First by FixerJay
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There are several good economic reasons why I favor keeping a flock of rental houses but the reason dearest to me is – They furnish me with a pocket full of cash every month, come rain or shine! Over the years, as the mortgages are retired (paid off) I have extra cash on hand to buy discounted mortgages, including buying back my own debt. It’s a very lucrative companion business to my real estate investing.

” … nothing comes ahead of cash flow!
”
In my opinion, nothing comes ahead of cash flow! If you have it, you can continue to grow. You can transition from smaller properties to larger ones or fixers to pride-of-ownership. You can use your cash flow to buy mortgages for passive income or take a trip around the world every month when the rents come in. Cash gives you choices!

Join Jay and associates learn big profits from discounted mortgages at Fixer Camp Oct 15, 16, and 17th 2010

Tags: The Big Picture by FixerJay
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After many years of trying different strategies to make money with real estate, I can tell you without the slightest “hiccup” – It’s not a sound idea to buy houses that don’t pencil out on the day you acquire them or shortly thereafter! There’s only one reason in the world that I know of to buy investment real estate, THAT’S TO MAKE MONEY. If it don’t or can’t, then I don’t want it regardless of whatever else I may like about it.

BUYING PROPERTIES THAT EARN PROFITS TODAY

I have been “sucked-in” on FUTURE VALUE, HIGHER POTENTIAL and PRIDE OF OWNERSHIP so many times; I’m embarrassed to admit it! Fortunately for me, I learned my hardest lessons early in my career before I lost the ranch.
If your goals are similar to mine, which are investing for current income and long term security (at least until I’m senile) with, the least amount of daily management involvement, then my strategies will work for you like they do for me. Naturally there are many things to learn and most of it should be accomplished during the early stages of your investing. On-the-job training is most effective! Buying multiple units colony house like I recommend will get you cash flow the quickest – with less risk involved.

To learn more about investments that pencil out, join us at Fixer Camp Oct, 15, 16, and 17, 2010.

Tags: The Right Ingredients by FixerJay
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