Product Description

This award-winning book describes how to get started repairing houses and renting them out in your spare time. It covers various components such as house selection, what to repair, handling tenants, managing the books, and taxes. The book describes the two safest ways to make money in real estate, and one chapter is devoted the the "Zen of Repairing Properties." The author uses illustrations from his own experiences, humor and motivational examples to encourage the reader down a path that will be rewarding on many different levels.

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Product Details

Publisher	Planeta Books
ISBN	0979856612
Format	Paperback
Author	Terry W. Sprouse
EAN	9780979856617
Label	Planeta Books
Studio	Planeta Books
Number Of Pages	148
Title	Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up & Rental Business in Your Spare Time; or, Investing in Real Estate and Creating Wealth with Fixer-Upper Houses
Publication Date	2007-09-19
Manufacturer	Planeta Books

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Customer Reviews

A valuable resource

Review by summit39, 2010-06-06

The book "Fix Em Up Rent Em Out" is a complete real estate investment guide primer targeted at the individual who wants to tackle the business primarily as a hobby, while holding down a 9 to 5 job. For this same individual who desires to do things on their own, he/she is rewarded with valuable information throughout the book to hone their skills in becoming a successful real estate investor.

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Encouraging

Review by Irene Watson, 2010-04-28

With the down turn of the economy many fix-up houses are becoming available at extremely low prices and what a better time to buy than now. And, to begin all one needs to do is start with a small investment on one piece of property. It may be a scary thought since the buzz is the market is down, however, as Terry Sprouse advocates, "real estate is a the top of my list of sound investments." He continues to articulate that with rental property you can have a good cash flow. As well, there is a continued population increase therefore there will always be a demand for housing.

Sprouse also believes that buying fix-up houses reduces risk; "pay less money up front and monthly" and "you increase your opportunity for profit because you have the built-in profit that can be used as investment for the next house you purchase." Having been in the construction industry for over 40 years and seeing many ups and downs of the economy I truly concur with him.

Sprouse's information is timely and well laid out. I don't believe he missed anything while proving the fix-up business is a viable venture. I encourage anyone that has considered buying fix-up houses but were afraid because of the buzz created by the media to read "Fix Em Up Rent Em Out." It is full of important information, not only that it is a good and safe investment, but also pointers on repairing and renting, as well as tax law and bookkeeping.

Concise and to the point, Sprouse offers wanna be's the opportunity to step forward and fulfill a vision to become the be.

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Great for those willing to stay in one place and work hard

Review by Richard Stooker, 2010-04-14

I was skeptical when I began reading this book, because I've read so much analysis of the subprime mortgage financial crisis that considered real estate speculation as a sign of a bubble. Until late 2007, too many people were buying second houses because they were sure they could flip them for a profit in a few months. For years they succeeded -- until the bubble burst.

However, the premise of this book is much more conservative. Buy houses below market value because they're in need of repair. Spend months or years repairing them as inexpensively as possible, then rent them out for a positive cash flow. And if your family lives there until it's rented, you don't have to pay a second mortgage and you can take advantage of the tax laws.

Such a plan makes sense in any market because, by fixing up houses in good neighborhoods, you're adding value. You're not just gambling the local real estate market will continue to rise.

This is not a plan for everyone. Me, I want the freedom to travel and move around. But I sure wish I'd started doing this right after high school. If I had, I'd be one wealthy dude now.

Now that the real estate bubble has burst, I suspect this strategy is even more workable for people who can raise some cash and obtain the credit. That's because market values of houses have gone down tremendously. Even houses in good condition can't be sold. You can probably find many fixer upper bargains that banks are anxious to unload.

Highly recommended for everyone willing to work hard and keep their credit scores high.

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Hindsight is 20/20!

Review by K. Albertson, 2010-04-04

Loved this book. Easy to read and jammed packed with tips that will keep the "fixer uppers" and "flippers' out of trouble.
Read page 84 on "The Five Rules on How to Lose Money and get your Rental Property trashed by Tenants" as it may bring reminders or tears of your own experiences as a landlord. As a property owner, I am the "frugal" one, and my husband is the all out spender- top of the line everything guy. I gave him the book for his birthday!!! It's easier to hear from an expert.
Knowing how to get bids on repairs and what repairs and improvements make a difference are very insightful. This book focuses many how to's that can keep you out of trouble.
I recommend it for those contemplating buying investment property in this market, and for those who are currently landlords. Today's market is different, and harder economic times means you need to cross your "t"s and dot your "i"s. There is more profit and risk at stake.
More families are renting now and facing economic hardship so it behooves you as a landlord not to take his contract and remodeling tips into consideration. Sprouse teaches you how to protect and grow your investment.
He has a great sense of humor in explaining his concepts as to why you should invest in fix up homes and helps teach you the "rules of the game."
His tax and refinance information are useful and easy to comprehend.

He includes useful websites and reference materials to give you more advanced knowledge.
I hope he writes on contractors- how to choose them and how to get them to finish the job! I will be the first in line for a copy.

I received a complimentary review copy.

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What am I missing?

Review by David Reasoner, 2009-07-30

This book was a major disappointment. I must be reading a different book than everyone else. There is very little substance and a lot of generalities. I really don't care about how fixing up a place provides personal satisfaction. I am more interested in how it puts money in my pocket.

This book assumes real estate always appreciates on an annual basis, that leverage is always a good thing, and that you are always money ahead to perform a repair yourself. The key point may be that the author looks at real estate as a hobby. I view real estate as a side business and my goal is to put cash into my pocket.

You would be better served tracking down a copy of William Nickerson's "How I Turned $1000 into (1,3,5) Million", any of the Jay DeCima books, or H Roger Neal's book on streetsmart landlording.

I have to review the return policy and see if I can recoup some of the money wasted on this book.

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