If you're dreaming of making money in real estate, it's time to stop dreaming and get to work, because making money in real estate isn't just a vague pipedream. It can be done, even by a young and inexperienced person, when you learn how to "flip" houses.
A friend of mine, we'll call her Tai, made a fortune in real estate, beginning at the age of twenty, with no help from anyone else. Here's how she did it:
Tai began by buying a HUD repo, which allowed her to get into the house for no money down. Then she fixed it up and sold it herself. At closing, she had made enough profit to by a second fixer-upper, but this time, she paid all cash. Tai went right to work fixing her second house, and when she sold that one, she collected profit of $44,000, which allowed her to pay cash for her third house!
By now, Tai was comfortable with her formula, and within a short time, she had flipped her third house, realizing enough profit to pay cash for yet another house, as well as being able to buy the custom pickup of her dreams. And all of this had happened in the span of just nine months!
Tai's formula was simple. She located houses that needed only cosmetic work, avoiding those that required structural repairs. She did all the painting herself, inside and out, and updated the home's lighting, plumbing fixtures, and carpeting. Once renovations had been completed, all three houses sold quickly, and at a significant profit.
It's the most tried-and-true way to make a fortune in real estate, so don't listen to anyone who tries to tell you that it can't be done or that you need to have a great deal of start-up money. That's not true. You can buy houses with no money down through various loan programs, and sellers will often help you with the closing costs.
I know what I'm talking about! My husband and I bought our 27th house earlier this year, for no money down, and we expect to make a profit of at least $100,000 for just one month of hard work!
But we take the process a step further, making our houses outshine the competition by also using Design Psychology, although our buyers never know that. All they know is that they feel good when they're in our homes, which makes them want to buy them, even if they're more expensive than the house next door.
There's no other business that can make you as much money, with as little start-up cost, in as short a time, as investing in real estate. In fact, more millionaires made their fortunes in real estate than in any other business. And you can do it, too. You just have to stop dreaming and get started.
(c) Copyright 2004, Jeanette J. Fisher. All rights reserved.
Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhouse fordollars.com/pages/5/index.htm
Chapel Hill is located right in the middle of North... Read More
The phone range and Peter was on the other end... Read More
The Real estate market in Spain keeps gaining momentum and... Read More
FHA HUD homes are those dwellings that have been acquired... Read More
Buying real estate can start with a look in the... Read More
Unlike traditional residential real estate mortgages, real estate investment financing... Read More
If You want to be Financially Successful you need to... Read More
When considering buying or selling a home, seniors have a... Read More
Why are real estate investors having so much success offering... Read More
Real estate: availability and costIn 2000, the median home value... Read More
Real estate investing begins when you move to the starting... Read More
To make a good profit in real estate, you must... Read More
There are many frequently asked questions and any local real... Read More
One questions many "for sale by owner" sellers... Read More
So, it's home hunting time. Where do you start? Who... Read More
Alphabet Letters after a person's name seem to bestow some... Read More
Homeownership, in any form, is a big step for most... Read More
Do you realize that you might be prevented from renting... Read More
A new business venture to help home sellers, home staging,... Read More
Once you have contracted us to sell your property we... Read More
If everyone always did everything they said they'd do, we'd... Read More
A REAL ESTATE STOCK PLANGetting out of the bleachers and... Read More
You're travelling in a foreign country and you get arrested... Read More
Great, now how do I actually INVEST in real estate?Investing... Read More
Where is it possible to buy a property on your... Read More
The first thing most of us think about when the... Read More
Purchasing a home can be a complicated and confusing process,... Read More
Downtown Minneapolis is rich with true metropolitan charm. With the... Read More
If you turn on the TV, listen to the radio,... Read More
You've listed your home for sale, you have a Buyer... Read More
Cyprus is situated in the north-east Mediterranean on the crossing... Read More
We probably answer this question for someone a couple times... Read More
One of your first steps, when you're getting ready to... Read More
"Begin With The End In Mind"I first heard the phrase... Read More
Anyone who has ever profited from doing a short sale... Read More
There has been speculation in the media recently about the... Read More
Unless you have been living in Siberia, you know that... Read More
Today we discuss escalation clauses because much of the country... Read More
So, your selling your home. Prepare yourself both physically and... Read More
Maui is a great place for families of any size.... Read More
What is a loft apartment? At the most basic level... Read More
When examining the different asset classes, real estate is generally... Read More
For those of you who were not psychology majors the... Read More
Real estate investing usually begins with the purchase of a... Read More
Buying Off PlanIt can be difficult to decide when every... Read More
Real estate stories radiate from the water cooler and cocktail... Read More
These real questions are answered by me and US Master... Read More
It's unfortunate that many real estate investors tend to look... Read More
Places to Retire: Popular Doesn't Always Mean "Best"Las Vegas, Nevada;... Read More
Raw land as opposed to improved property is much more... Read More
Most people take the easy way out when selling their... Read More
These are real builder questions that I got from readers... Read More
New Marketing and Design Psychology ideas help you stage homes... Read More
GETTING THE MOST FOR THE LEASE-TRACKING YOUR REAL ESTATEIf you... Read More
If you're looking at Lease Purchasing as a business, you'll... Read More
As you continue to read about real estate investing, you... Read More
Many of you may not be aware of the various... Read More
Property Investing Secrets:How Buying Real Estate Is Like Planning a... Read More
When real estate note brokers purchase partially paid notes, they... Read More
Equity lender, hard money lender, private investor or what ever... Read More
Every one should have a home inspection before purchasing any... Read More
A typical real estate commission on a $234,000 home (national... Read More
When buying a home, it can be easy to overlook... Read More
Besides the emotional upheaval of uprooting from your home, your... Read More
Since the Northern Cypriots famously voted 'yes' to the UN... Read More
Sellers need to keep their safety in mind when prospecting... Read More
Real Estate |