My wife and I made the leap into a more rewarding future in 2002, when we bought my first restorative superior home, repaired it, and rented it.
What motivated us to start in the superior houses of reparation were the repercussions of the attacks of September 11. Funding for environmental projects, like the kind I was working on, was being redirected to military activities, and the future of my work seemed shaky.
Respond to a newspaper ad
Before that, I had been reading about real estate investing and when my wife and I saw an ad in the newspaper for a property under repair in a relatively nice neighborhood, we made an offer and ended up buying it. We did not have much knowledge of what we had jumped, but we had a lot of enthusiasm. We learned as we went.
Jacks from a trade
In the home repair area, we became experts in all trades, learning how to repair almost anything that was in a home repair. But, in our top niche repair business, we were a lot of things. We focus on what we do best: buying, fixing and renting. And, if you do something often enough, you get pretty good at it.
We worked like dogs, slept like logs, and ate like pigs! But now we have the routine down and we are making a lot of money with less effort in our repair business.
Investing in repairmen is a great way to start a business in your spare time. It can allow you to gradually develop financial security and eventually switch to a career in which you control your destiny.
Is now a bad time to invest?
When I bought my first home, many thought I was crazy. After September 11, there was great uncertainty about what would happen next. Would the country go to war? Would I lose my job? Would the economy go down the toilet?
Today, due to the possibility of a recession, people are making the same arguments. But remember, you don’t make money buying houses when the economy is strong. So the prices are too high. You make money when the economy is weak and house prices are low and negotiable.