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Buy my video and I will be teaching you how you can be making one million dolla, you be like WHAT, WHAT IN THE HELL, so simple, I should have thought of that myself, take no skill at all. You no believe...........
There is money to be made, but it is a BUSINESS just like anything. It is a lot like stock, you need to know everything that is effecting the market in the area and the surrounding areas. Lots and lots of homework, research, talking to people who know what they are doing and getting them to show you how they make their decisions. If you get in as a hobby that is one thing, but if you are going to do it, then be prepared. After doing that, I would find a good contractor, and by good I mean using lots of *ahem* outsourcing or outsource yourself to reduce the cost of rebuilding and getting your houses back on the market. My dad was controlling 5 properties at a time and using me as free slave labor and investing sweat equity, sure it made his financial life easier, it gave us time together to "bond" and it paid for a pricy education for myself but had he run it like a business I am sure he could have done 10 fold. He is about to retire and getting back in and will be using a more business model, completely controlled by him at the top and doing nothing but funding and commanding, which is IMHO the ONLY way to do this.
DO NOT make the mistake of thinking you are just going to go buy up distressed property, "beating the system", invest sweat equity on a low level, put them back out and have to beat off offers with a stick. A house is worth NOTHING if you can not get rid of it, just like any other physical investment. There are houses much nicer than the ones you are going to pick up that simply sit on the market because of many differant things. The people who are good at this sort of thing use both actual and speculative means to make intelligent investments, they know the cheapest way to get the house back in order and get it back out. They know about zoning, large corporate movements, local and state government plans etc etc, like I said it is a lot like the stock market except insider trading is not a criminal offense.
Remember this is business and it is very much a pyramid. There are those that will play on the ideas that those info-mercials put in people's heads. If you got a property for cheap, think about why it was cheap and know that the easy money was made the second you signed on the dotted line. sometimes when you think you are fucking them, they are fucking you. Good luck
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