Investing in Fixer-Uppers: A Complete Guide to Buying Low, Fixing Smart, Adding Value, a Complete Guide to Buying Low, Fixing Smart, Adding Value

by Jay P. DeCima

Book Overview

Expert money-making advice from the nation's leading fixer-upper guru

"Excellent book on the fixer strategy."--John T. Reed, bestselling real estate author

"Filled with practical examples of how to profit from rundown fixer-upper properties."--Robert J. Bruss, syndicated real estate columnist

Nobody wants to buy an ugly, decrepit, rundown house--which is exactly why they provide real estate investors with...

• Format: Paperback
• Language: English
• ISBN: 0071414339
• ISBN13: 9780071414333
• Release Date: February 2003
• Publisher: McGraw-Hill Companies
• Length: 336 Pages
• Weight: 1.55 lbs.
• Dimensions: 0.8" x 5.9" x 8.9"

Customer Reviews

A Great Book

This is a great book that will pay for itself! I do not see why people are complaining that this not a flipper book - because it's obviously not a flipper book in any way! The title clearly says Investing in Fixer-Uppers : A Complete Guide to Buying Low, Fixing Smart, Adding Value, and Selling (or Renting) High. It does not say buy a piece of trash, paint, and sell it to the next gullible sucker. (i.e. the mentality of most get-rich-quick flippers nowadays.) This is a buy and hold for huge profits book. If you want a flipper book, then search for flipper books. If you want to retire one day soon (or at least know you can!), then stop watching the Flip This House TV shows with grossly inflated profit margins, and buy this book! Don't believe everything you see on TV.

This book is worth $46,000.00. Here's what it did for me:

I have read this book 5 times now, and am putting his strategies to good use. Using Jay's strategies, I just fixed up an older house in my neighborhood. With 3 month's part time work, (I also teach 3rd grade) I now have 28k in equity, and 209.00 per month positive cashflow. The house was even owner financed, 2% down, and deferred payments too! (Jay's strategies). Next week, I will close on a second rental property for $46,500, and it appraises for $65,000. Some folks say Jay is too folksy, but he can be as folksy as he wants to be if his strategies get me $46,000 in equity in less than 6 months.

Lots of good content

The negative reviews on this book are way off. I've read many real estate investing books and most of them talk about all the wonderful deals they've made and how you can do it to... but never give you DETAILS. Jay gives lot of good information and shows you how to cover your ass so you don't make the mistakes that a lot of R.E. investors make (overpaying, over-estimating income, under-estimating expenses, believing what the sellers say about the income potential.) I'm just as glad that these reviewers don't follow his advice; more opportunities for those of us that heed it!

I really...

dont see the other reviewers beef with this book. Nowhere on the cover does the book mention anything about flipping. I also wonder if they bothered to read it. It clearly does not advocate becoming a "slum lord". It recommends against investing in these types of properties. It does recommend investing in older neighborhoods, in fact on pg. 97 it breaks down the 5 general types of areas or neighborhoods in most towns or cities and tells you exactly where to invest. As far as flipping, if you follow Jay's advice instead of renting you could then sell. The book is all about how to find these types of properties and how to purchase them for the right price( As most real estate investors know, the profit is made in the purchase.) Starting on pg. 56 he offers 4 ways to find such properties.On pg. 73 he tells you step by step what to do when you find such a property.On pg. 86 how to find the right real estate agent to help you.It covers negotiating, fix-up strageties, where the profit centers to each deal are, financing and refinancing,finding partners, other avenues for investment monies and landlording skills towards the END of the book.I really thought this a practical book full of good advice for the beginner.

taking advantage of opportunities

tons of practical advice. it picked up where the books, "housewise" and "investing and real estate" left off. gives you a great deal of inside information, plus realistic plans and worksheets before you take the plunge. his various angles on saving money is a definite read.