I think Rich Dad, Poor Dad has said that you'll be a more successful person if you surround yourself with successful people. Well, I'm trying to emerge myself with them!
Tonight, a friend (32 years old) of mine drive me around and showed me his REAL ESTATE. Over here, I bought this one, and sold that over there, and here's a house a friend made $200k, and this is want I can do with this one and on and on. It was totally cool to see how this successful investor was buying property.
Here's a great strategy that you should put under your tool belt.
Buy a house in a strong
rental area that has a huge
lot! The investor can now split the lot and build more houses for cash flow or resell. Actually, you may not even need to split the lot.
The numbers work great because you can build a house and get it to cash flow easy or resell for huge profits. My friends are building a cookie cutter house (3 bed/2 bath) for 75k and selling them for 135k!
How much work are they doing? Finding the deal, and making sure the contractor is doing his job. That's it! The profits are huge for the amount of effort. Its crazy!
Its easy for these guys because they have a contractor lined up, house plans approved, and know how to talk to the county about zoning issues. However , you can figure this stuff out as well, its not rocket science!
Are these deals easy? These guys are doing it just using the MLS....
I'm actually, going to start throwing out some signs in the central area to attract potential sellers with big lots.
You should check your market for these same opportunities...