Question of the Month: Upside Down – How Can I Buy More Properties?

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.

Our response:

Dear Colleen,
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):

Hope these help you a bit. If not, you know where to find me!

Best regards,
Julie Broad
Rev N You with Real Estate

http://www.revnyou.com
http://www.lifeasrealestateinvestors.com

5 Comments

Filed under real estate

5 responses to “Question of the Month: Upside Down – How Can I Buy More Properties?

  1. Good creative tip for trying to sell the rentals. I’ll keep that in mind if I’m ever in a situation where i’m underwater.

    Thanks Julie

    • Hey Scott! I know you’re not going to get underwater on any deals – you’re taking careful steps… doing your research and learning from plenty of people who have done what you’re trying to do!! You’re going to kick butt on your deal. Thanks for checking our post out!! Have a good rest of the week.

  2. oh, I’m so totally going to sign up and ask questions. I totally want a free tshirt 🙂

  3. 🙂 Please do… we also like to get pictures of our winners wearing their new shirt but so far nobody has sent one in. Maybe you will win AND send us a picture of you wearing it??

  4. You won’t get just a picture, that’s lame!

    You’ll get a rockin video 🙂

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s