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Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up & Rental Business in Your Spare Time; or, Investing in Real Estate and Creating Wealth with Fixer-Upper Houses Paperback – September 19, 2007

ISBN-13: 978-0979856617 ISBN-10: 0979856612

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Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up & Rental Business in Your Spare Time; or, Investing in Real Estate and Creating Wealth with Fixer-Upper Houses + Buy It, Rent It, Profit!: Make Money as a Landlord in ANY Real Estate Market + What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures
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Product Details

  • Paperback: 148 pages
  • Publisher: Planeta Books (September 19, 2007)
  • Language: English
  • ISBN-10: 0979856612
  • ISBN-13: 978-0979856617
  • Product Dimensions: 6 x 0.3 x 9 inches
  • Shipping Weight: 7.2 ounces (View shipping rates and policies)
  • Average Customer Review: 4.3 out of 5 stars  See all reviews (43 customer reviews)
  • Amazon Best Sellers Rank: #99,241 in Books (See Top 100 in Books)

Editorial Reviews

Review

Great information for anyone starting out in the fixer-upper business. The author has served his apprenticeship in the trenches. -- Fixer Jay P. DeCima, Investor and Author

It's full of useful tips and advice. I have used these methods to make a good living in real estate. -- Paul Hoyt, Real Estate Investor, Tucson, Arizona

Terry Sprouse has created a profitable rental business in his spare time. What sets him apart is he took action -- Bob Zachmeier, Investor, Educator, Author

This book is beyond a simple how-to guide, it provides inspiration for seekers of a way to achieve financial success -- Cynthia Pope, Ph.D., Connecticut

With the wit of Will Rogers, this book provides simple guidelines for restoring homes, and sanity to our crazy lives. -- M. D. Matlock, Ph.D., P.E., C.S.E., President, American Ecological Engineering Society, Award-winning designer of green neighborhoods for Habitat for Humanity, Professor of Ecological Engineering, University of Arkansas.

Award-Winning Finalist in the Real Estate Category of the 2008 National Best Books Awards. --USA Book News

Review

Great information for anyone starting out in the fixer-upper business. The author has served his apprenticeship in the trenches.

More About the Author

Terry's most recent book is "How Abraham Lincoln Used Stories to Touch Hearts, Minds, and Funny Bones." The book is the culmination of his life long interest in the Jedi Master of storytelling, and 16th President of the United States.

While working as a Peace Corps Teacher Trainer in rural Honduras, Terry obtained a copy of "Abraham Lincoln" by Carl Sandburg. He was so inspired by the book, and the intriguing character of Lincoln, that he vowed that he would one day write an inspiring book about Lincoln himself. Thirty years later, his book was published.

Terry started his fixer upper and rental house business following the attacks on the World Trade Center in 2001. His job was becoming increasingly uncertain as the economy spiraled downward, and he decided to start his own business to provide a cushion of economic security.

After learning the ropes, he decided to write a "how-to" book about his experiences to others help get started in the same business. The book is entitled, "Fix em Up, Rent em Out." It was an award-winning finalist in the 2008 National Best Book Awards (USA Book News).

Along with his wife, Angy, and sons, Jason and Bryan (affectionately known as "I want" and "buy me,"), he continues to buy houses, repair them, and rent them out. He also teaches classes and seminars on "Mr. Lincoln and Storytelling" and "Real Estate Investing."


Customer Reviews

I recommend this book for any aspiring (or greenhorn) real estate investor.
Boomer
Rental/lease contracts, advertising, dealing with problem tenants/renters, evictions, repair issues, insurance, and very important record keeping.
Beth DeRoos
I found his book very easy to read, humorous (if you know Terry that is no surprise!)
Laura J. Aldag

Most Helpful Customer Reviews

40 of 40 people found the following review helpful By D. Blankenship HALL OF FAMETOP 50 REVIEWER on November 15, 2007
Format: Paperback
What a unique and useful book this one is! First, I will state that I have dabbled in this sort of thing, i.e. fixing up old houses for resale, for a number of years now. To be honest, had I had access to this particular book twenty years ago, I would have been able to avoid a lot of mistakes and a lot of grief. Some of what this book addresses I have learned over the years through trial and error and simple luck. Mr. Sprouse has been able to articulate what I have known, but was unable to say for myself. I must say that the author was able to point out much that I have missed or was unaware of. Reading this work was a very pleasant learning experience for me. This is a very useful book for anyone wishing to purchase old homes, fix them up, and either rent or sell them. This is a wonderful resource!
The book is actually rather funny, or I should say amusing. The author has a quick wit and it shows through his writing. The book, even though dealing primarily with physical things, is so much more. The author has given us a good dose of old fashion common sense, philosophy, and very sound advice. He has done this in a way that fits perfectly with the subject his is addressing. Attitude in any endeavor is extremely important and the author quite well makes this point.
Now take note. This book is not one of those flashing works similar to some of the late night T.V. infomercials, which promise instant wealth (picture of a dorky looking guy with gold chains driving a new Hummer that is setting in front of his multimillion dollar home telling you that he just made a zillion or so dollars with nothing down, no credit and no work, and did it all in just six weeks...just sent him $19.95 and he will tell you how he did it).
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24 of 24 people found the following review helpful By Alejandra Vernon HALL OF FAMETOP 500 REVIEWERVINE VOICE on November 16, 2007
Format: Paperback
Are you thinking of buying, selling, or renting property out? Then get this book! Compact, easy to read, and packed with step by step instructions for several phases of making real estate work for you, Terry Sprouse has written all the basics in a way that anyone can understand, and will be especially welcome in steering people through this time of fluctuating and uncertain markets, so that you'll make the most of every dollar you invest or gain as a buyer, seller, or landlord, and the principles will even make sense for you in other forms of business, as I found that some of what is in "Fix Em Up Rent Em Out" could even be applied to my career as a free-lance artist.

I've always been tempted with the idea of buying a "fixer upper," whether to live in myself or rent out (I've done it several times for other people in exchange for cheap rent, never for myself), and Sprouse gives the complete details on what I could expect to find in this adventure. You'll learn a lot from his Tables too, which at a quick glance one can get information on cash flow, interest, appreciation, even the tools to have on hand (it is recommended to learn how to do as many repairs as you can yourself) and much more. There is even one table on page 84-85 on "The 5 Rules on How to Lose Money and Get Your Rental Property Trashed by Your Tenants" that is funny as well as wise counsel.

There's great advice in Chapter 8 on what to look for in a prospective tenant, and how to make out a rental contract that suits your requirements; Chapter 9 is about taxes. Read and memorize! You'll be glad you did. One of the final chapters is on how to make this real estate experience a family affair, and lists some activities young children can do to help and the advantages to having the kids be involved in the process.
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17 of 17 people found the following review helpful By Beth DeRoos HALL OF FAMETOP 1000 REVIEWERVINE VOICE on January 15, 2008
Format: Paperback
The housing market being what it is, with two of the highest subprime home loan, foreclosure markets being in the Stockton and Sacramento areas, this book may be of value to those wise enough to have some savings to invest in houses being foreclosed on, like one I saw for $79,000 that sold orginally for $205,000. And yes we are a family with rental properties and properties bought and fixed up and then sold.

The parts of the book I found of value are those dealing with learning to do jobs like sheetrock, tile, windows, doors, floors, etc yourself. Depending on where you live and if you want bank financing, you may be required to have all the electrical and plumbing done by a licensed person. Some counties here in California allow you to do these things as long as you have a qualified elctruician or plumber check your work as you go to make sure its safe and sane.

Am glad the author notes that the law (1997 Taxpayer Relief Act) now allows you to pay no Income taxes on a home you have lived in for two years that you then use as a rental when you buy another home to live in as your main residence. However this exclusion is only available once every two years, which is great if you buy a place to live in that needs some repairs that you can do over time. You not only get a place to live but can do the work over time and do it right. Then sell or rent it out and get another place an repeat the process.

The book also has an excellent piece on Increase Cash Flow, Sell One House to Pay off Another. As well as a piece Know When To Sell which is as important I believe as knowing when to buy and when NOT to buy.
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