If there was one thing I got out of my high school economics class it was buy low sell high. Well it doesn't take a guiness to figure out that is a great way to make a dollar. But what if you buy low sell low. People think I am out of my mind when I talk about investors tuning a dollar in this market. Well for some its never been better. The key to investing in this market is not being greedy and getting in and out as fast as you can. I think one of the biggest mistakes people make when investing in fixer uppers is holding out to long for a few dollars. The carrying costs are to high and the biggest problem is that most people don't want to carry more than one deal at a time. So don't be greedy, get a fair price and move on to the next. My investors are scooping them up, cleaning them up, and making them stand out from the rest with upgraded , kitchens and baths and they will sell in a heart beat. The worst thing about holding a property too long is getting "burned out" with the property. That will lessen your drive on the next venture and so on. Get in, get out, make your money and move on to the next. You can make a lot more money on four deals a year than you can holding out on one waiting for three more thousand dollars.
Comments(0)