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.
Flipping houses is 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.
Copyright ©
2004 Jeanette J. Fisher. All rights reserved.
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