Each month we select one of our Rev N You with Real Estate newsletter reader’s questions to feature as our QUESTION OF THE MONTH. We respond to everyone that sends in a question but the published question writer receives a Rev N You with Real Estate T-Shirt! Here’s December’s Question of the Month Winner!
This month’s question is from Colleen Bitterman:
I own 3 houses, 2 are rentals. I have learned a lot from your letters. My biggest challenge is to aquire more property to make this hobby profitable. I paid way too much for these houses & am upside down trying to survive.
First of all… 2 rental properties is a fabulous start! You should be proud of yourself for taking action and getting into the real estate market… many people never take the step. Have you considered trying to sell them through a rent to own program? This might be a way to get the cash flow positive while setting a sale price in the future that at least allows you to break even.
As for buying more properties… first of all … spend a bit of time learning the fundamentals of real estate investing. Real estate investing is not a guaranteed path to wealth as you’ve discovered. You need to know what a good deal looks like!!
As for buying without money and making it profitable here’s some ideas (in blog posts and articles we’ve written):
- Questions Answered – Teleseminar
- Buying Real Estate with No Money
- Using Private Money for Real Estate Deals
Hope these help you a bit. If not, you know where to find me!
Rev N You with Real Estate