Archive for the ‘fix up houses’ 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.”

There is still loan money available for purchasing investment property

Monday, October 27th, 2008

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With all the bad news about Wall Street and the credit market, with banks unwilling to loan money even to each other, what hope is there for the average fixer upper house investor? The situation may not be as bad as you may think!

Here’s why:

1. There is plenty of money available for home mortgage loans, either to purchase or refinance a house. This is because the American home mortgage market has been federalized. Ninety percent of all loans are being made through the Federal Housing Administration (FHA), plus Fannie Mae and Freddie Mac. FHA is owned by the federal government and Fannie and Freddie are operating under federal conservatorship, so all three have complete access to global capital at low rates because their borrowings are guaranteed by the Treasury Department.

2. Despite tougher credit standards, you can still get a loan for 3 percent down
with FHA, or 5 percent down on Fannie Mae and Freddie Mac programs.

3. Interest rates are still at historic lows.

4. Home prices, dragged down by foreclosures and short sales, are at 2003 and 2004
prices.

For more details see Kenneth Harney’s article Crises Aside, Would-be Buyers Can Still Get Reasonably Price Loans.

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Save Money on Making Fixer-Upper Repairs

Thursday, August 21st, 2008

Every person who owns a fixer upper house business ought to learn to make repairs.

Take a look at my new ezinearticle entitled Save Beaucoup Money When Investing in Fixer-Upper Houses! 5 tips on Learning to Make Repairs.

Preview: Tip #1 is Stick to Experts Like Glue

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Refinance now to prepare for next fixer-upper purchase

Friday, August 8th, 2008


Put your financial ship in order and get ready for your next fixer upper investment house purchase.

With interest rates still historically low and sellers beating the bushes to find buyers, now is the time to put your home equity to work by refinancing your principal residence.

If you need further convincing, check out my ezinearticles.com piece Refinance Now to Take Advantage of the Buyer’s Market Perfect Storm.

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Join me on Facebook

Monday, August 4th, 2008

Learn even more about starting a fixer upper house business!

If you are a member of Facebook, I invite you to visit my page at http://www.facebook.com/profile.php?id=1224446928.

Líst me as a Facebook friend

Info on Terry’s Book

Press and Media

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A Key Phrase to Get Seller Help with Closing Costs

Wednesday, July 16th, 2008


I have a new fixer upper house article over at ezinearticles.com that shows you how to get the seller to help pay your closing costs when purchasing a house.

Townhouse Purchase Update
The mortgage company has given the green light and we are now waiting for the title company to get the paper work together. We will probably close tomorrow or Friday.

I’m anxious to get started fixing the property. My boys are out of school for the summer and they are chomping at the bit to make a little extra spending money by helping out with the repair work.

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How I got started in the fixer uppers

Monday, July 14th, 2008

Buying fixer upper houses and converting them into rental houses is a great business. And anyone can do it. You don’t need a certificate, you don’t need a degree, and you don’t need anyone’s permission. You just do it!

To view a condensed version of how I got started in the fixer-upper business, check out my article at ezinearticles.com. This is the version with no bells or whistles, and no accompanying three-part harmony.

The townhouse closing may or may not happen today. If not, Angy has to catch a flight out of town tomorrow. In that case, we will have to sign power of attorney over to me so that I can sign for both of us at closing.

Just like the recipe for my famous extra-chewy chocolate chip cookies, the plot thickens!

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Delay on Townhouse Closing

Saturday, July 12th, 2008


We were not able to close on the fixer-upper townhouse on Friday. The underwriter for the loan requested some more documentation. They asked for a monthly utility bill to verify our current residence, a copy of my wife’s driver license to verify her complete legal name, and copies of our social security cards.

If all goes well, we will now close on Monday or Tuesday.

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