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Retailing Houses as an Investor!
| | Thursday, May 27, 2004 @ 08:00 AM EDT
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Contributed by: laurie ann waltz
laurie ann waltz Properties
Read more archived articles about Selling
Would an extra eight to ten thousand dollars help you out this year? If you answered yes then you should be retailing a house. I don't know how many times I have been asked by a new investor where to start or what to do first. If you currently have a job and eight to ten thousand would help you out, then you should be retailing.
Retailing is the process of buying, fixing and selling a single family house to an end buyer who wants to live there.
Why start with retailing? Well, when you wholesale or flip a contract you only make a few thousand and you have to follow up on a ton of
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leads to find a good one. ( I get about 150 to 250 calls a week for wholesaling and flipping) Secondly, you have to hope you bought it better than all the professional full time investors who have twenty four hours a day to look at deals. As you can see the odds are against you.
Now what if you only had to look at ten to fifteen houses to get a good deal. Take that deal and force the appreciation of the property through repairs. Even if you didn't do a great job, you are left with at worst with a good rental property that needs no work and you own for less than 75% of it's fair market value.
Now, if you are selling the property you should be netting about eight to ten thousand. How many times a year do you need to do that to make a difference in your standard of living. This is why I think retailing is much better than wholesaling or renting, because when you get a check it is a substancial amount of money. This gets your mental attitude toward real estate much more upbeat, because you can see substancial progress for your effort.
When you rent, you might make $50 to $100 per month, but you have all kinds of problems. More importantly, with only a few properties you don't feel like you are getting anywhere fast. Don't get me wrong, if you have a hundred units $50 to $100 starts to add up.
Let's face reality through, most beginners don't buy one hundred units. They buy a couple, get aggravated because there is not enough cash flow and quit .
Retailing, provides a preset plan. You get in, and get out!!!!! You achieve tangible, measurable and most importantly results that you can spend. Ask yourself, could I do just two retails in one full year?
When I decided to sale the Tanning Salon and the Car Wash in 1999. I set up my next plan with retailing as my ultimate weapon to acheive Financial Freedom. It has done that for me and it can for you.
I have been able to retail MY own properties at a rate of 2-3 a year. With the money that I make on the sale of the single family, I am able to buy and rehab a multi unit without the burden of a mortgage. I am currently in the process of closing on a duplex that I was able to purchase through the sale of a SFR I purchased in Jan 2004. I will be doing a reverse 1031 on this property due to the fact that the house I purchased in January was FROZEN. It took a month for the house to thaw, so work was delayed. So I am closing on the duplex before the SFR is sold. I paid $28,048.64 for both properties. I have the SFR listed at $69,900.00. I currently own all of my multi units free and clear due to retailing SFR's.
I hope someone can use this information to benefit them.
Laurie Ann Waltz
President
Nu Image Real Estate & development
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