Product Description

Veteran investor and rehabber Kevin Myers caused a sensation in real estate investing circles with the publication of the first edition of Buy It, Fix It, Sell It . . . PROFIT! Now, a booming real estate market and completely updated and expanded edition of his best-seller spells new improved opportunities for those willing to learn the rehabbing ropes. Renovating and reselling single-family homes is an exciting, income-generating business opportunity available in any area. Myers presents all-new insights alongside proven methods for rehabbing and then selling single-family homes as a highly lucrative entrepreneurial venture. Using these techniques, beginning and veteran real estate investors gain in-depth strategies for developing a high-profit, low-overhead business-full-time or part-time. The author addresses many of the thorniest challenges that rehabbers face-from identifying deal killers to making the right renovations. All new and expanded sections discuss: *Inspecting the property *Dealing with contamination, including toxic mold, asbestos, radon, lead paint, groundwater contamination, septic systems, and termite infestations *How tax issues affect investments in real estate rehabs *Funding projects using IRA and 401(k) accounts *Maximizing profits by flipping properties Encouraging and practical, Myers explains where to find the funds to get started, how to create the team that will support the projects, and why not to pick up a hammer, even for those who are handy. All new success stories inspire investors and would-be entrepreneurs to take action.

Product Details

• Amazon Sales Rank: #134699 in Books
• Published on: 2003-07-15
• Released on: 2003-07-15
• Original language: English
• Number of items: 1
• Binding: Paperback
• 320 pages

About the Author
Kevin C. Myers is president of StreetSmart Real Estate, Inc., a diversified group of companies specializing in real estate appraisal, rehab projects, private mortgage lending and real estate education. Kevin has rehabbed numerous investment properties during his more than 20-year real estate career, specializing in single-family homes and small income units. He is an associate member of the Appraisal Institute.

Customer Reviews

Practical
As other reviewers have said, this is written for the layman. Maps the flipping process out and tells you how to do it in easy to understand language. A great starter book. Covers what to look for, working with an R.E. agent, appraisals, foreclosures, purchasing for cash(and how to get it), using private morgage lenders(the hard stuff!),negotiating, inspection, renovation, hiring contractors, and how to sell quickly for top dollar. The final chapter delves into some more advanced strategies. I'm just now getting into "flipping" books and this is one of the best.

Beginners: this is your book.
I read "Flipping Properties" by William Bronchik and Robert Dahlstrom and I wish I hadn't even read it, let alone bought it. This book by Kevin Meyers is much, much, much better for beginning investors. It tells you what you need to know without delving into a bunch of pretentious real estate legal and technical jargon that's only designed to confuse and intimidate the reader like Bronchik and Dahlstrom's book. Also, this writer actually knows how to write linear paragraphs which is something those other two clowns could really use a lesson in. I highly recommend this book for the beginner who wants to generate some instant cash profits in real estate. If you read Bronchik and Dahlstrom's book and you don't know much about real estate, you're gonna get to the end of it thinking "I'll never be able to do this." Instead, read this book by Meyers. It's better, it's written better, it's more readable, it's more comprehendible, it's everything that other piece o' crap isn't. Get it.

Forgot something?
Meyers wrote this book in 1998 but apparently decided to ignore the tax liability of flipping houses. The 1997 Tax Act will have a serious impact on anyone who follows Meyers method of getting in and getting out as quickly as possible. Ignoring the possible 39% taxes a short term flipper has to fork over makes Myers examples too rosey. The book does give great ideas as to where to look for bargins and how to obtain financing. This book is not meant for anyone who buys and holds but only for those who buy and sell. Flippers beware...pay attention to your tax situation. Read Irwin's guide to the 1997 Tax Act.