As an up-and-coming real estate investor, there may come a time when two hot opportunities land on your table at the same time. Property A is going to require a full gutting to rehab but you’re looking at a profit of $60,000 when it’s complete. Property B needs only minor work and will yield a profit of $30,000.
Which do you choose?
Not so fast. Don’t automatically jump on the Property A bandwagon. Seasoned real estate professionals know that any time you gut a house you dramatically increase your risk in the project. The opportunity for an inexperienced investor to make costly mistakes goes up, which means profit can down. In the time it takes you to fully gut Property A, you could have completed cosmetic repairs on two or three Property B type situations, thereby making $60,000 or more – with much less hassle.
The best of both worlds is to apply yourself to learning the principles we teach at Empowered Investor Network and you’ll be able to easily take on both properties at the same time. We have the experience buying and rehabbing almost any type of residential investment property you can imagine. We have the experts in place to teach you how to get through the rehab process with very little loss of hair. Best of all, we provide a treasure chest of free educational material.
The correct answer to the question posed in the title is “I’ll take both!” After the proper training, of course.
The Creating Wealth Team
