Tue, 11 November 2014
It is possible to buy houses for as little as $400, just ask David Sexauer He got his start buying properties from The Surplus list, where properties are sold for as little as $1. His first batch of homes he paid $400 for each one. Most of there properties are in rough neighborhoods, and in very poor condition. But, David is able to fix these houses up, for $10,000 or less and make a big social impact in neighborhoods by providing affordable housing.
Key To Dealing With Tenants:
David has had a lot of problems with tenants, and with bad things happening to his properties. He overcame this by working with local people that have a personal connection with the tenants and the community. This is a real win-win. It provides jobs in the neighborhood for the managers, good low-income for the residents, and less hassle for the owner.
What David Looks For In A Good Deal:
How much cash he has available?
What is the interest rate?
What is the return?
He looks for a 2% monthly return (Pays $50,000 expects to make $1,000 a month)
Favorite Real Estate or Business Book:
E-Myth by Michael Gerber
Advice For New Landlords:
Stay engaged. Know wh