Investing in Fixer-Uppers : A Complete Guide to Buying Low, Fixing Smart, Adding Value, and Selling (or Renting) High

I picked up this book because I read the author's other book, Start Small, Profit Big in Real Estate. Neither of the books is about flipping properties. Their strategies are to purchase ugly and rundown properties that nobody else wants to buy, fix them, and rent or sell them. The author argues that buying ugly properties is profitable because other investors are not willing to buy them, which in turn creates fewer buyers who bid for these properties. Once these properties are fixed up, they can either be rented or sold more easily because people like to live in a clean environment.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

This is a great book that will pay for itself! I do not see why people are complaining that this not a flipper book - because it's obviously not a flipper book in any way! The title clearly says Investing in Fixer-Uppers : A Complete Guide to Buying Low, Fixing Smart, Adding Value, and Selling (or Renting) High. It does not say buy a piece of trash, paint, and sell it to the next gullible sucker. (i.e. the mentality of most get-rich-quick flippers nowadays.) This is a buy and hold for huge profits book. If you want a flipper book, then search for flipper books. If you want to retire one day soon (or at least know you can!), then stop watching the Flip This House TV shows with grossly inflated profit margins, and buy this book! Don't believe everything you see on TV.

I can't agree with those who criticize this book for being like all other real estate investment books. This book is a breath of fresh air from many other real estate books! The author actually offers practical advice from his experience, and its written in a readable and humorous manner.

In particular, the author's description of the Haywood Houses purchase on pagers 16 to 25 is a good example that addresses many of the issues that new (and experienced) investors face, such as:

1.) Where do you find your investment houses? Jay found his in the newspaper. I found my first investment property in the newspaper also. It was a great fix-up bargain at $85,000 in 2002, and is a great rental property now, bringing in over $200/month;

2.) What do you do when you find a good property? Jay says "act quickly" when you find a property in neglect. Jay says houses in neglect are worth big bucks for us do-it-yourself fix-up investors. Jay's list of what constitutes an ugly property, including "unsightly yards, no painting done for years, broken down fences, unsupervised dogs & cats." This list should be taped on our walls to constantly remind investors what we are looking for;

3.) Fixing people problems. The property was overrun by scary looking people with tattoos who drank beer and worked on junk cars. The owner wanted out. Jay fixed the sort-term people problem in exchange for receiving valuable long-term benefits.

This is a useful book that I keep handy.


Terry Sprouse - author of the book, "Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up and Rental Business in Your Spare Time."

I have read this book 5 times now, and am putting his strategies to good use. Using Jay's strategies, I just fixed up an older house in my neighborhood. With 3 month's part time work, (I also teach 3rd grade) I now have 28k in equity, and 209.00 per month positive cashflow. The house was even owner financed, 2% down, and deferred payments too! (Jay's strategies). Next week, I will close on a second rental property for $46,500, and it appraises for $65,000. Some folks say Jay is too folksy, but he can be as folksy as he wants to be if his strategies get me $46,000 in equity in less than 6 months.

I found this book to be a good primer for new real estate investors. Seasoned pros could find a nugget or two as well. More than anything else, DeCima's writing style, folksy as it is, is just fun to read. A good addition to your real estate library.