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.doghousetodollhousefordollars.com/pages/5/index.htm
Article Source: http://EzineArticles.com/
June 2:
