Archive for the ‘how I got started in fixer uppers’ 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 .

"Fix em Up, Rent em Out" Featured in Newspaper Article

Friday, December 5th, 2008

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I was recently interviewed by the Arizona Daily Star and responded to a variety of questions related to my house fixer-upper business, such as:

Why did you write the book?;
How did you get into the fixer-upper business?;
Can you give away one secret of success?;

as well as several other questions that inquiring minds want to know the answers to.

Here is the complete interview, entitled “UA researcher fixes up houses on the side, writes about it.”

See also:

For yet another newspaper interview that I did see: Fixer Upper Business Highlighted in Newspaper Article.

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"Fix em Up, Rent em Out" wins USA Book Finalist Award

Monday, October 20th, 2008

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I’m pleased to announce that my book, “Fix em Up Rent em Out,” is an Award-Winning Finalist in the Real Estate category of the National Best Books 2008 Awards, sponsored by USA Book News.

Top 50 Amazon Reviewer D. Blankenship says,

What this work does give you is ideas and an outline, that through hard work, common sense, and a bit of luck, you can do quite well for yourself and have a bit of fun while you do it. The author is quick to point out the down side of every aspect of this business and points out ways, if there are any, to avoid them. On the other hand, the author does a wonderful job of pointing out the positive. He not only emphasizes the financial aspects, but does a very nice job of drawing attention to the many side benefits involved, and there are many of these! I like the way that the author directs your attention to the fact that a job well done is a wonderful feeling. The author has listed given us a great list of other books and resources to turn to which I find most helpful. Actually, his list of places to go for information is almost worth the price of the book alone.

A complete list of winners and finalists in each category can be found at:
http://www.usabooknews.com/bestbooksawards2008.html.

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Guest article at Moolanomy

Thursday, September 11th, 2008

Is it a good idea to invest in fixer upper houses in today’s economy?

I invite you to read my guest article Recession-Proof Investing with Fixer-Upper Rentals over at the ever-insightful moolanomy.com.

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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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Making an Offer on a Townhouse and Mulitple Careers

Wednesday, June 18th, 2008

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House Shopping

I am making an offer on a fixer-upper townhouse. It’s a 2 bed 2 bath unit in a row of about 10 townhouses, where I already own another townhouse. It’s not the proverbial “worst house in the best neighborhood” but it’s located in a mixed lower-middle to middle-class neighborhood where there is good demand for housing.

They are asking $115,000 and I am offering $100,000. I’ll let you know how it comes out.

One Person/Multiple Careers

I began reading Marci Alboher’s intriguingly entitled book One Person/Multiple Careers. It’s interesting to read about other people doing similar multiple careers to what we part-time real estate investors are doing. I’ll post a review of the book here soon.

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Real Estate Investors and Recession

Saturday, June 7th, 2008


Do you worry about getting through the recession with your fixer upper house business intact?

Check out my ezinearticles.com piece entitled Proactive Responses to Recession – 7 Creative Ways to Make Extra Money With Real Estate.

Looking for motivation to get started in the  Fix em Up, Rent em Out business?

Just Follow Your Dreams.

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