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THE 2 MAGIC INGREDIENTS

If you’re willing to do some serious investing during the next several years that most people won’t do – you can end up being able to do many things for the rest of your life that most people can’t do. I’m speaking financially – plus, having the personal time to do it! Sounds easy enough; doesn’t it? But here’s the problem.

Most people lack the discipline and necessary commitment to accomplish the things they wish they could do. Without discipline and commitment, goals, dreams and life-long desires will only be a wish. Everyone who attends my seminars and training wants to become successful. Part of my teaching is about discipline in your life – otherwise my training won’t help you very much!

A student and good friend of mine reads educational real estate books for an hour every morning. Claims he never skips a day! When I ask him why – this is what he said: “I stay mad at myself all day long if 1 skip my reading. I’ve conditioned myself to read!” It just so happens he’s a very successful investor too! He’s got ‘em both – discipline and commitment. Can ya dig it! See you at a future seminar.

Tags: The Right Ingredients by FixerJay
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GETTING STARTED – FIRST PRIORTY

I talk to people almost daily who have decided that investing in income producing property is a great idea, but they can’t seem to figure out what type of property to invest in. Many folks do nothing while trying to figure some easy magic formula that will offer instant wealth and guaranteed success. Take my advice here. Stop looking for perfect properties with guaranteed profits. There ain’t none. Most people who wait for the perfect deal are still waiting.

 Let me remind you of a very important fact of life. Everything we do begins with the first time. It’s not necessary to be fully trained and have years of experience before getting started. On-the-job training has long been recognized as one of the most effective methods for achieving journeyman status quickly. Getting started is always top priority. First, find out what you must do, and then go out and do it. Keep learning how to do it better as you are actually doing it. Live combat training with real bullets will speed your education.

Tags: Success Secrets by FixerJay
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FISHING SKILLS WILL LAST YOU FOREVER

What’s better – a fish dinner tonight, or learning how to fish so you’ll never go hungry again?  I think you know the answer, but did you know that real estate investing works almost the same way?  It might seem more hip or fashionable to purchase bank foreclosed houses (REO’s) and flip them for a profit – but it’s still a one trick pony that will hardly make anyone wealthy!

 

Most “red hot”, follow the crowd strategies will work quite well quite well for short periods of time- but they can stop working faster than last year’s love affair!  Whey is that, you ask?  Too many contingencies, that’s why!  First, bank mortgages always come and go!  Government manipulated interest rates can change overnight and even the fickle public’s perception of value in the housing market can cause total stagnation!

 

If your goal is to develop a dependable real estate income, you must learn the business of investing!  In short, you must learn how to fish!  When you learn to fish, you’ll discover that bank financing – whether it’s available or not; won’t slow you down!  Interest rates and public opinion will be only topics at the dinner table, but they won’t affect your real estate income one iota!  The reason is because the business of investing includes a variety of different ways to profit.  If one strategy quits working, there’s a dozen more.

Tags: Fixing For Money by FixerJay
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RICH MAN POOR MAN STRATEGY

People often ask me if it’s necessary to know everything about doing fix-up work to be a successful house fixer. The answer is no, but the knowledge is very helpful, even if you don’t plan to do the work yourself. The reason is because you need to know how much things cost.

In my case, I did everything I could (90 percent or so) when I first started out because I didn’t have the money to hire it done. Many investors do a portion of the fix-up and contract with others to do what’s left. Some investors lack handyman skills and hire everything out.

In the final analysis, it boils down to money no matter who does what. Approximately 30 percent of every fix-up dollar goes to purchase materials. The balance (70 percent) is the cost for labor. Obviously, you can save $700 for each $1000 you plan to spend by doing the work yourself. Saving $700 is almost the same as earning that much. It makes a pretty strong case for learning how to do your own fixing.

It’s not necessary to have a lot of money to make a lot, but you must have a good substitute if you don’t. Fix-up skills and the ability to acquire bargain properties and manage them are cash equivalent skills

Tags: The Big Picture by FixerJay
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OVER-PAYING – THE DEADLIEST SIN

Many property owners over-improve the houses they live in. They add all sorts of extras (whistles and bells) that surrounding houses in the same neighborhood don’t have: fancy kitchens gadgets, add-on rooms, finished garage interiors, costly backyard. Improve­ments including in-ground swimming pools are just a few that come to mind.

There’s an old saying in real estate circles that says you can spend all the money you want on a $75,000 tract house, but you’ll still have a $75,000 tract house when you’re done. That’s pretty much a real world fact of life. You might be able to sell for a few more dollars than the neighbors, but rarely are you likely to ever get your full investment back.

They call this “over improving.” It’s done every day by countless thousands of homeowners. It’s even done by rental property owners who haven’t read my books about fixing rundown houses. I offer sound advice on what to fix and how much to spend. Of course, I’ve spent lots of years figuring out what works and what doesn’t.

If by some strange circumstance you find an over-improved property matched up with an owner who urgently needs to sell, BINGO­ you’ve likely discovered a quick path to instant built-in equity. Someone else has already done the work. All you have to do is find the situation.

Tags: Success Secrets by FixerJay
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