The answer when to buy – now use formulas I write about in my books.

$200 per month cash flow sounds very good.

Chapter 8, “Investing in Fixer-Uppers”, explains locations. I break it down to 5. The important thing is the market for your particular rental area. Say it’s $700 per month. How many $700 units are available? And how many $700 customers are in your area?

Vacancies in $1000 per month houses don’t affect your $700 rental house – different customers!

FIXER JAY

I was wondering if you think maybe its a good idea to start out a property not so upscale so that people could afford it for sure with the economy? Then maybe later fix it up more for higher income individuals.

Also, are you waiting to buy properties currently until home prices fall at the very bottom or are you suggesting or already buying currently? I live outside of Dayton,OH and prices are going 1/3 lower, but I dont really think they will go any lower than that since the vacancy rate is only 7%, but I dont know. Also, there was much of a bubble here and prices are below 90′s prices, but still would like your opinion.

I read in your book about cash flow and I was wanting to know if you think $200 a month cash flow(minus mortgage,taxes,insurance) for a $50,000 property is a good amount to keep up on repairs/maintence? I am going to be doing all outside work, paint, have discounts for roof, tile materials and etc and lower labor. I know a few people. Also, small things im going to do myself as much as possible. Then hire for major things, but I dont think it would be hard to get a fair price and good work.

Lastly, What kind of information do you use before buying in a certain area such as unemployment, vacancy and etc, if any? Sorry for all the qustions, I just like to be methodical. Thank you