This award-winning book describes how to get started repairing houses and renting them out in your spare time. It covers various components such as house selection, what to repair, handling tenants, managing the books, and taxes. The book describes the two safest ways to make money in real estate, and one chapter is devoted the the "Zen of Repairing Properties." The author uses illustrations from his own experiences, humor and motivational examples to encourage the reader down a path that will be rewarding on many different levels.
With the down turn of the economy many fix-up houses are becoming available at extremely low prices and what a better time to buy than now. And, to begin all one needs to do is start with a small investment on one piece of property. It may be a scary thought since the buzz is the market is down, however, as Terry Sprouse advocates, "real estate is a the top of my list of sound investments." He continues to articulate that with rental property you can have a good cash flow. As well, there is a continued population increase therefore there will always be a demand for housing.
Sprouse also believes that buying fix-up houses reduces risk; "pay less money up front and monthly" and "you increase your opportunity for profit because you have the built-in profit that can be used as investment for the next house you purchase." Having been in the construction industry for over 40 years and seeing many ups and downs of the economy I truly concur with him.
Sprouse's information is timely and well laid out. I don't believe he missed anything while proving the fix-up business is a viable venture. I encourage anyone that has considered buying fix-up houses but were afraid because of the buzz created by the media to read "Fix Em Up Rent Em Out." It is full of important information, not only that it is a good and safe investment, but also pointers on repairing and renting, as well as tax law and bookkeeping.
Concise and to the point, Sprouse offers "wanna be's" the opportunity to step forward and fulfill a vision to become the "be."