Real Estate Investing - Makeovers vs Flipping
By Dr. Phil Speer
Please don’t call it "flipping."
Some real estate investors who
practice the technique of buying property for immediate fixup
and resale call it "flipping houses." I have never
liked this term, for it strikes me as reference to a gimmick.
It seems "flippant!" It sounds like crude tagging
of a very noble undertaking. Fixing up cheap properties is raising
values in America's housing! It is a profession of dignity.
I think the makeover process deserves reverence for providing
people with a better place to live.
Without proper maintenance,
all housing deteriorates. You can find cheap houses everywhere
in dire need of repair because of neglect and abuse. You can
buy these depreciated houses inexpensively at a fair market
discounted price because of their condition. You can often restore
them to very near their original condition or even better with
very little investment. And you can sell them at a fair value
price that includes generous profits. The seller's marketplace
for those who want and need good housing is always swelling.
You can often take a house that
has "No Class" and transform it into "First Class"
housing with only paint and carpeting.
And you can take your makeover
another step forward with simple, eye-appealing extras to create
a "Dream House," an "Ideal House," a "Doll
House," and a "Model House." You will be very
proud of your work with this kind of makeover, and the real
estate investing process will give you tremendous personal satisfaction,
in addition to a good income.
My end-result objective in creating
an appealing makeover is to create a finished product that I
myself would enjoy as a home. If I can be satisfied with the
makeover, I know that buyers will find that same satisfaction.
To me, the real estate investing profession is a grand endeavor
that extends far beyond the financial rewards. I have owned
numerous businesses over the past 50 years, but I know of no
other business venture that generates more personal gratification
and financial prosperity than real estate investing in makeovers.
Speer, Ph.D., started his real estate investing career 25 years
ago. Without the availability of credit and using only a $10
bill, he purchased $1 million in properties in his first year,
and had accumulated $10 million in properties by his fourth
He was featured in a Wall St.Journal editorial as most successful
investor in the Nothing Down Real Estate Movement, and was honored
with a Caribbean cruise as top investor of the year. In his
hometown of Nashville, Tennessee, he has been a businessman
and Human Resources Consultant for 30 years. He is an author,
speaker and seminar director.
learn how to profit in real estate investing, even without cash
or credit, read his report at http://www.Real-Estate-eBook.com/investing/flipping.html/
Subscription is free to his Fix-up Ezine. He and other contributing
authors provide free articles and resources on real estate investing
at his online "Academy of Advanced Real Estate Investing
Techniques" at http://www.AAREIT.com