Helpful Investment Tips
- Get interest only mortgages…if you want to pay principal you can…if it gets tight you are alright. Paying principal back to yourself is like an old woman putting money under her mattress.
- Stay around $175,000 or less. I’ve bought properties well above that and done fine, but it’s a case by case basis. The numbers just work out better at lower prices…trust me.
- Listen when someone who’s done it gives you advise…not selling…rent it…not renting…market it…don’t know how to market it…ask me…I’ve never had a problem!!
- Invest aggressively in a conservative medium…buy a lot of homes at a steady pace and watch their value slowly and steadily increase over time.
- Your property does not have to be a foreclosure…the example above was a listing in a town I liked with upside potential…I paid pretty much full list and borrowed on my credit cards to fix it up.
- Leverage the right people. My father runs one of our crews…he has been rehabbing for many years and has a ton of experience on what to do and what not to do. To this day, he runs the crew that does my properties.
- Use our banks…they close…I’ve messed around with so many shot in the dark lenders that bs you around…our lenders are good…use them.