YOU CAN KISS YOUR BOSS GOODBYE!

The single most dangerous roadblock facing every career-changer is procrastina­tion. There is no doubt that many folks with the bet intentions and even a good workable plan will procrastinate forever. Look around you. How many people change careers versus how many simply talk about it? Don’t let the odds hold you back. Remember, financial success is not about having good luck. It’s about having a good workable plan and you’re working that plan.

I decided to buy older houses and small apartments that needed fixing up. I planned to buy groups of older houses (5-12) on a single parcel. Why? The seller (an investor)  would know that a bank would not finance the deal over 4 units and junkie.  Plus I knew, to sell the property, the seller would also probably need to offer me seller financing.  I was right.

My reasoning was: I can do much of the work myself. Plus, I can buy them for much less cash down because there are fewer serious buyers for unsightly distress ­type properties. I also thought that once fixed and cleaned up with a new paint job, older rental houses would command about the same rents as equivalent­ sized newer houses.

It’s very important to stay within your means financially and to acquire the type of properties you can personally handle yourself. If you do that, you can almost write off the risk factor. Inexpensive rental houses and small apartment buildings will always have long waiting lists of qualified tenants if you keep the properties looking attractive and in good repair. 

Good luck.