Archive for the ‘Fix em Up Rent em Out’ Category

William Nickerson – real estate better than stocks

Thursday, August 5th, 2010

William Nickerson, in his book How I Turned$1,000 into Three Million in Real Estate – in My Spare Time, said “you success with real estate properties is enhanced because you can retain control of it.”

Many people have made money in stocks, but they relinquish control of their money, except when to buy or sell.

When investing in real estate properties, you can retain personal control in all stages of the selection, operation and improvement of your investments. You are the captain of your own ship.

More radio interviews scheduled

Aug. 10, 9:10 am, Dave Kelber will interview me, WRNJ 1510 am Hackettstown, New Jersey.

Aug. 11, 8:10 am, Mark Wayne will interview me, WICH 1310 am, Norwich, Connecticut.

Aug. 17, 6:50 am, Jason Mansmith will host me, WRPN 1600 am, Ripon, Wisconsin

Here is the complete list of my upcoming  radio interviews. I will keep you posted as more are added

Aug. 10, 9:10 am, Dave Kelber show, WRNJ 1510 am Hackettstown, New Jersey.

Aug. 11, 8:10 am, Mark Wayne show, WICH 1310 am, Norwich, Connecticut.

August 17, 6:50 am, Jason Mansmith show, WRPN 1600 am, Ripon, Wisconsin.

August 20, 8:30 am, I will be on David Sutton’s show, KSRN 1490 am, Los Alamos, New Mexico.

August 25 at 8:08 am,  I will be on Jeff Anderson’s show, KSDR 1480 am, Watertown, South Dakota.

Joe Sabah, Get the Job You Really Want, and fixer upper houses

Monday, July 26th, 2010

In the book How to Get the Job you Really Want and Get Employers to Call You, author Joe Sabah says,

Are you willing to pay the price to have your life be the way you really want it? We all know there is a price to be paid for everything in life. If we stay in the same circumstances we are now it may cost us our life. Serious illness can be caused because of stress, the stress of being in a job we hate. Take the time to consider what price you are paying now for what you have in your life.

For me, the perfect job was buying fixer-upper houses and renting them out. It provided me the independence and financial security that I desired, and I could do it while still working my 8:00 to 5:00 job.

If you don’t like your job, if you are having your hours reduced, or if you lose your job altogether, it may be time to consider establishing a business that will provide you with some additional economic security.

How would you answer Joe Sabah’s question, “What price would you be willing to pay to have the life you really want?”

Welcome to my new ‘fixer upper and rental house’ blog home!

Friday, May 7th, 2010

Welcome to my new website.

Make yourself right at home. Pull up a chair, have a cup of coffee, and check out some of my articles, useful links, or previous posts. Hopefully, you’ll discover some useful investing information.

To keep you in the loop, I am developing some new resource materials to help you get started in the house fixer-upper and rental business.

First and foremost, I am putting the finishing touches on my new book entitled “Never Sell Your Home! How to turn your home into a rental house.” Watch this space for further developments.

Even with rising interest rates, now is still a good time for do-it-yourselfers to start a new income stream with a rental house or two. House prices are still at rock bottom lows, but before too long they will start moving up again.

The key is to find a good fixer-upper house in a location where people like to rent. It’s still the best way to start your own business, and establish some long-term economic security!

Sometimes going through tough economic times is just the push that we need to start on a new path.

When tough times hit, I like to reflect on Lincoln’s saying, “We can complain that the rose bushes have thorns, or we can rejoice that the thorn bushes have roses.”

How to Find Tenants

Thursday, April 8th, 2010


Here is a recent email that I received from someone who is taking my 7-Week email course, and my response:

Dear Terry,

We bought one fixer upper but are having trouble renting it — any ideas of good places to advertise for a tenant?

Thanks in advance,

Jean xxxx

Hi Jean,

Let me suggest a few techniques that that have worked for me:

1. Place several small For Rent signs on all nearby streets, especially the major intersections. If you get a sign with an arrow on it, you can point the arrow in the direction of your house. I buy the signs at Home Depot or Lowe’s.
2. Hold an “open house” on Saturday and Sunday. People driving by can come in and look around.
3. Contact companies that help people find rental properties. Some will list your property for free. These companies usually contact me.
4. Run an ad on craigslist.org. You can upload photos and describe the qualities of your rental property. The ads are free & I usually get a great response.

I hope you find a tenant soon.

Let me know if you come up with a good technique that I haven’t thought of.

Good luck!

Best regards,

Terry Sprouse

Location, Location, …

One thing I didn’t mention in the letter, but which is perhaps the most important consideration of all in attracting good tenants, is the location of your property. Properties located where people really like to rent are called “opportunity zones” (or “transition zones”).  Just as Baskin-Robbins must offer the flavors of ice cream that the public likes, so you must offer rental properties in the areas of town where people want to live.

If your property is located in an area where people don’t like to rent, you will always have trouble finding tenants. For more information about my philosophy on where to invest, check out my EzineArticles.com article The Secret to Increasing Cash Flow – Invest in Opportunity Zones .

Festival of Books Link

Friday, March 12th, 2010

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For those attending my Self-publishing Workshop at the Festival of Books, here is a link to my handout where I discuss how I the techniques that I use to promote my book Fix em Up Rent em Out.

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Tucson Festival of Books Presentation

Friday, March 5th, 2010

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For those of you in the Tucson area, I will be making a presentation at the Tucson Festival of Books on Saturday, March13th. The title of my presentation is How to Self Publish & Promote Your Book, and Enjoy It!

My workshop is from 1-2:00 pm at the University of Arizona, Integrated Learning Center, Room 141.

I hope to see you there!

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Interview with Mark Maxon Wednesday

Monday, August 10th, 2009

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In his book, Achieving Excellence in Life, author and radio host Mark Maxon states that a foreign-born individual relocating in the United States is four times more likely to acquire a net worth of one million dollars in his working lifetime than a natural born citizen. He identifies the reason for that as conditioning. Growing up in the US, we are taught “Money doesn’t grow on trees; “We can’t afford that, we’re broke;” and “The streets aren’t paved with gold.” While in other countries, people say, “The streets are paved with gold,” and “In America anything is possible.” I find that pretty interesting.

Wednesday, I will have the pleasure of being interviewed by Mark Maxon about my book Fix em Up Rent em Out. I invite you to join us. You can listen to us live at http://themaxonshow.com/, and selecting “click to listen live”.

Details for upcoming radio interviews:

August 12, Mark Maxon, KTALK AM 630, Salt Lake City, Utah, 10:00 am Mountain Time

August 14, Gillian Sutton, KRSN AM 1490, Los Alamos, NM, 7:30 am Mountain Time

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Upcoming interviews in Iowa and Minnesota

Friday, July 24th, 2009

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I am back from vacation in Mexico and from attending the National Speakers Association Conference in Phoenix.

It was amazing to see the Aztec Teotihuacan Ruins in central Mexico. My wife and boys climbed the Pyramid of the Sun (pictured above) and the Pyramid of the Moon. My 11-year old climbed the Pyramid of the Moon twice! We cut back his consumption of pixie sticks shortly after that. All that sugar was giving him way too much energy! I had to sit out the climbing because I had a sore leg from playing soccer the previous day.

Nando Parrado was a keynote speaker at the NSA conference. He was in a plane crash in the snowy Chilean Andes in 1972, along with members of his rugby team, and survived for 73 days. Eventually, he walked across the mountains and saved his friends by bringing help. His incredible story was told in the movie “Alive”.

Upcoming radio interviews to discuss my  book, Fix em Up Rent em Out:

July 30, Steve Hexom/Brian Nichols, KBUR AM 1490, Burlington, IA, 8:05 am

July 31, Rich Peterson, KROC AM 1340, Rochester, MN, 9:10 am

Info on Terry’s Book

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The Zen of Investing in Rental Properties

Friday, June 19th, 2009

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Inner and Outer Wealth

As I promote my book “Fix em Up, Rent em Out: How to start your own house fix up and rental business in your spare time,” something curious happens. When I appear on radio shows, one of the most frequent questions that I receive from the show host and from call-in listeners was, “can you explain what you mean by The Zen of Repairing Properties?”. That was the title of a chapter in my book. I was surprised by the response and attention that that chapter attracted. I thought, what’s going on here?

On the radio shows, I explain how I felt a sense of exhilaration and deep satisfaction, as I was making repairs on my fixer-upper house. It was like a religious connection to the spirit, or to my true nature. I could tell that I was on the right path, and in complete harmony with my deepest connections by the feeling of joy and fulfillment that I felt.

In fact, that chapter on The Zen of Repairing Properties was one that I most enjoyed writing because it was so close to my heart. The more radio shows that I appeared on, and the more calls I received, the more I considered expanding my thoughts on that chapter.

Many books discuss the business side of making money in business, but few address the spiritual dimension. Money provides happiness on one level, but we have all known or heard about people who are wealthy yet their lives are in complete disarray. Spiritually, their tank is running on empty.

Although the same principles apply to many types of businesses, I think real estate investing and the rental house business are uniquely suited to tie the spiritual and the profit sides of business together.

Lao Tzu, in The Book of Life, said:

Man at his best, like water,
Serves as he goes along:
Like water he seeks his own level,
The common level of life,
Loves living close to the earth,
Living clear down in his heart.

Herman Hess, in Siddhartha, said

Within you there is a stillness and a sanctuary to which you can retreat at anytime and be yourself.

As the Bible says,

What does it profit a man to gain the world, and lose his own soul?

Is it possible to serve like water, find that sanctuary within, gain the world and not lose our souls? I think the odds are pretty good.

To be continued . . .

Here are my upcoming radio guest spots:

June 23, Greg O’Conner, WKHM, Jackson, MI, 9:30 am
June 26, Jason Mansmith, WRPN, Ripon, WI, 9:15 am
June 26, Peter Stewart, WABJ, Adrian, MI, 10:00 am
July 1, Jeff Anderson, KSPR, Waterton, SD, 7:00 am

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New Review Of "Fix em Up, Rent em Out" at Your Online Handyman !!

Thursday, May 28th, 2009

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Youronlinehandyman.com has posted a review of my book “Fix em Up, Rent em Out.”

Here is an an excerpt from the review:

The author Tery Sprouse wrote this book for the person with a limited amount of disposable income who wants to invest in real estate, but want to keep their 9-5 job. He takes you through his experiences in real estate and really takes years off the learning curve. Naturally since I am so into home repair I found those aspects of the book fascinating, getting to hear exactly how he approached each job even when he often had limited experience. Of course the chapters of the book that talked about real estate as an investment were also very informative.

But this book is more than that, “Fix Em Up Rent Em Out” is about growing as a person while learning how to fix up properties which happens to be the exact same theme of this site. The book is about life as much as it is home repair. It’s about doing what you want in life and doing what you enjoy. While the entire book was very well written and methodically went from chapter to chapter I especially could relate to chapter six, The Zen of Repairing Properties which talks about developing as a person by doing what you enjoy and living life on your own terms.

Terry really has a great philosophy on life! In chapter 1 he talks about living life to the fullest and accomplishing in life the things that you really want to do. He explains to you how to take your life in a direction that you want to go in even if what you want to do is not possible right now. You really could get the feeling that he loves what he is doing and wants to share it with the world.

Here is the entire review.

I encourage you to check out other posts at Your Online Handyman that are packed with great information about how to paint ceilings (and enjoy it), how to keep group lines clean, how to keep thos pesky dust mites out of the house, and much more.

Here are my upcoming radio guest spots:

May 29, Gary West, WBVP-WMBA, Beaver Falls, PA
June 2, Phil Rivera, WLTN, Littleton, NH
June 5, Mark Wayne, WICH, Norwich, CT
June 9, Ron Ross, WJBC, Bloomington, IL

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