Make Money with Fixer-Uppers and Renovations [Paperback]

Gary W. Eldred (Author)

Book Description

Series: Make Money in Real Estate | Publication Date: July 25, 2003

In the Make Money series, renowned real estate investor and bestselling author Gary W. Eldred shows you how to profit from the safest, most reliable wealth builder in the world-real estate. With coverage of all the fundamentals-from finding the right properties to financing and managing them-Eldred shows you the ropes so you don't have to learn important lessons the hard way. Unlike general guides to investing in real estate, each title in the Make Money series gives you the specialized expertise necessary to fully profit from a select investment strategy.

Make Money with Fixer-Uppers and Renovations shows homebuyers and investors how to build a fortune by purchasing properties at bargain prices, using creative improvements to add thousands to their value, and selling or renting them for high profits. There's almost no limit to the number of ways you can increase the value of a property-from quick and low-cost improvements like a fresh coat of paint to more extensive renovations such as multi-unit conversions or kitchen remodeling. This step-by-step guide includes the knowledge you need to combine entrepreneurial thinking with proven market analysis techniques. You'll learn to choose properties, plan improvements, and buy low and sell high. Make Money with Fixer-Uppers and Renovations will show you how to:
* Fix and flip properties for quick profits
* Buy properties with little or no money down
* Maximize your property's market value
* Exploit regulatory loopholes
* Create pizzazz for your interiors
* Add living space to your property
* Revitalize neighborhoods to increase property values
* Market your properties for top dollar
* Save thousands with owner-occupant financing

Editorial Reviews

From the Back Cover

In the Make Money series, renowned real estate investor and bestselling author Gary W. Eldred shows you how to profit from the safest, most reliable wealth builder in the world–real estate. With coverage of all the fundamentals–from finding the right properties to financing and managing them–Eldred shows you the ropes so you don’t have to learn important lessons the hard way. Unlike general guides to investing in real estate, each title in the Make Money series gives you the specialized expertise necessary to fully profit from a select investment strategy.

Make Money with Fixer-Uppers and Renovations shows homebuyers and investors how to build a fortune by purchasing properties at bargain prices, using creative improvements to add thousands to their value, and selling or renting them for high profits. There’s almost no limit to the number of ways you can increase the value of a property–from quick and low-cost improvements like a fresh coat of paint to more extensive renovations such as multi-unit conversions or kitchen remodeling. This step-by-step guide includes the knowledge you need to combine entrepreneurial thinking with proven market analysis techniques. You’ll learn to choose properties, plan improvements, and buy low and sell high. Make Money with Fixer-Uppers and Renovations will show you how to:

• Fix and flip properties for quick profits
• Buy properties with little or no money down
• Maximize your property’s market value
• Exploit regulatory loopholes
• Create pizzazz for your interiors
• Add living space to your property
• Revitalize neighborhoods to increase property values
• Market your properties for top dollar
• Save thousands with owner-occupant financing

About the Author

GARY W. ELDRED, PhD, has been involved in more than a hundred real estate projects as a buyer, seller, or investment consultant. Dr. Eldred has also taught numerous graduate courses in real estate at America’s top universities, including Stanford, the University of Virginia, and the University of Illinois. He is also the author of Make Money with Condominiums and Townhouses and Make Money with Small Income Properties, and coauthor of the bestseller Investing in Real Estate, Fourth Edition, all published by Wiley.

Product Details

• Paperback: 300 pages
• Publisher: Wiley; 1 edition (July 25, 2003)
• Language: English
• ISBN-10: 047143342X
• ISBN-13: 978-0471433422
• Product Dimensions: 9 x 7.5 x 0.8 inches
• Shipping Weight: 1 pounds
• Average Customer Review: 4.7 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #1,201,391 in Books (See Top 100 in Books)

More About the Author

Gary W. Eldred has been investing successfully in real estate for twenty-five years and has consulted on real estate issues with many Fortune 500 companies. He formerly served on the graduate business faculty of Stanford University and the University of Virginia. He is the bestselling author of Investing in Real Estate, Sixth Edition, The Beginner's Guide to Real Estate Investing, Second Edition, and The 106 Common Mistakes Homebuyers Make (and How to Avoid Them), Fourth Edition, all from Wiley.

Customer Reviews

Most Helpful Customer Reviews

38 of 40 people found the following review helpful:

5.0 out of 5 stars Fantastic idea generator, October 12, 2003

By A Customer

This review is from: Make Money with Fixer-Uppers and Renovations (Paperback)

As a veteran rehabber, I do not expect much that's new from most "fixer" books. But this one pleasantly surprised me. It opened my eyes to the fact that I had not come close to maxing out profits from my properties. The chapter on marketing also weighs in as solid gold. I can see why my FSBO efforts have not paid off like I thought they would. Now I know how to really sell faster and at a higher price--without paying a commission! My guess is that whether your a newbie or pro, this book will definitely guide you to make more money( or collect more rents if you choose to hold--which I do not).

27 of 29 people found the following review helpful:

4.0 out of 5 stars Excellent info, but lacks some details, July 17, 2004

By 

Roger A. Rubio "The Snapman" (Albuquerque, NM USA) - See all my reviews
(REAL NAME)   

This review is from: Make Money with Fixer-Uppers and Renovations (Paperback)

Make Money With Fixer-Uppers and Renovations is a creative book. It criticizes the flipping books Buy It! Fix It! Sell It! Profit! and Flipping Properties by saying they limit your thinking by telling you that the only type of properties you can get are run-down, traditional junker properties. Eldred challenges that notion by saying that the right house can be a house that feels only like a house, and not a home. He differentiates between a house and a home by saying that a house can shelter you, but doesn't excite you or move you in any way. A home is just like it sounds: a place you call home. By fixing up properties so that they feel like a home, you stand to make more money than by just fixing it up.

The book contains some very good stories and information on fixing up properties, and the information Eldred gives is well worth the price. But the information lacks real meat on how to do any of the things he's suggesting. It's like any other $19.95 book on real estate investing: you get what you pay for, and sometimes his suggestions lack detail, or feel like "top of the waves" type of techniques. If there were an upsell, you might get some kind of procedure on exactly how to invoke your local ordinances, add to neighborhood convenience, or convince a reporter to play up the neighborhood's potential for turnaround.

He also winds up providing a formula for profit in the rehab business that walks and talks a lot like the Buy It! Fix It! Sell It! Profit! formula (a book he criticizes). Apparently the formula is sound, but he believes the buying price will rarely be 60 cents on the dollar. A fair belief, but you may be able to buy it at that price; I leave it up to the investor to make that choice. (In other words, read both books and make your own decision :) ).

Despite these limitations, you do get a lot of bang for your buck. I recommend it to real estate investors who would like to expand their thinking on potential fixer-uppers.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Fixer Upper Book, February 17, 2008

By 

Lauren (Colorado Springs, CO) - See all my reviews

Amazon Verified Purchase

This review is from: Make Money with Fixer-Uppers and Renovations (Paperback)

This book is a must for any person interested in buying a house and fixing it up. It has great tips for how to get a mortgage, what to look for in a fixer upper house, and how to sell your house afterwards.