We are just wrapping up a few projects and I see that our pipeline of properties is starting to get a little low. I decided to go check out some properties that have been sitting on the MLS for a while and see if I might be able to find a couple of diamonds in the rough. Typically the properties out here where I invest are in completely distressed condition. They require tons of work, so I will only really dig deep when I need the inventory.
One of the properties I went into had trash strewn all over the place. It looks like they moved out in a hurry and left a lot of stuff behind. I went down in the basement and there I saw it. The first educational program I had ever bought.
Carlton sheets no money down system. The joys of being 17 trying to convince people to give me owner financing brought back some memories. Anyway I tell you this, because it reminded me of a book that really changed my life and the way I view real estate. The book is William Nickerson’s “How I turned $1000 into a Million in Real Estate – in My Spare Time.”
This book was the basis of my real investing career. The book is written in almost a how to fashion with plenty of examples along the way explaining his whole methodology. Nothing is held back in this book. The book I read was the original one which was written in 1959, so a lot of numbers were very different and there were some interesting excerpts about civil. Also a lot of the material is dated, but the two main principles remain the same: [Read More…]
YOU MAY ALSO LIKE
Renting Properties to Section 8 Tenants: Weighing the Pros &
I often find myself in conversations or in forums about the benefits of Section 8 tenants outweighin
10 Not-So-Obvious Ways to Thoroughly Screen Potential Tenant
As a property manager and landlord, I have learned that screening can be the most important element
Lessons From Chicago’s South Side: How Looking Beyond Numb
It is 11:00 a.m. I am lying down in the front seat of my car, and there are guys shooting at each ot