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| Buy It, Fix It, Sell It...PROFIT | 
 enlarge | Author: Kevin Myers
Publisher: Kaplan Business
Category: Book
List Price: $19.95
Buy New: $0.45
You Save: $19.50 (98%)
Buy New/Used/Collectible from $0.45
Avg. Customer Rating:  (48 reviews)
Sales Rank: 280492
Languages: English (Original Language), English (Unknown), English (Published)
Media: Paperback
Edition: 2
Number Of Items: 1
Pages: 320
Shipping Weight (lbs): 1.2
Dimensions (in): 8.8 x 7.2 x 0.7
ISBN: 0793169380
Dewey Decimal Number: 332.63243
EAN: 9780793169382
ASIN: 0793169380
Publication Date: July 15, 2003
Release Date: July 15, 2003
Availability: Usually ships in 1-2 business days
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| Customer Reviews:
 I am now in the green despite my ex! May 1, 2006
19 out of 19 found this review helpful
I was left with not much money after my divorce. While cleaning the books shelfs out I found Mr Myers book (My ex had bought it!)
I read this book one night and then re-read it. I said I can do this! I followed Mr. Myers tables, formulas and bought a house on paper only(I was nervous). I realize this could work. Then I took the money I did get from the divorce and bought a rehab. I am a school teacher so I moved in June and had the house finished before school started in August. I contracted with different professionals and became their helper. I learned to do things on my own by the time I finished my third rehab. I made $40,000 on my first rehab and increased my profits on the next three. This book changed my life- Thank you, Mr. Myers, for writing a very easy to follow book!
A great starting point July 28, 2005
18 out of 20 found this review helpful
If you are new to "flipping" or just considering the idea then this is a great book to start with. It's very detailed yet written in simple terms making it easy for a novice to understand. I've learned a great deal from it thus far and highly recommend it!!
 You may not be able to sell a bursting bubble for a profit June 21, 2005
49 out of 70 found this review helpful
The most important advice in this book is on page 55 where the author advises you to figure out your profit before you buy. The only way you could be sure you have a profit when you purchase would be if you already had a contract to sell for a profit, at the same time. If you can pull that trick off, congratulations, you are an exceptionally skilled rehabber. But most rehabbers own the property for months or longer; if during this holding period one of the big real estate bubbles should burst profits will be blown away and significant losses could be suffered. For example, a rehabber could buy a fixer-upper 20% below the appraised value, but that margin could be wiped out if real estate prices fall by 41% as they did in Los Angeles in the 1990's. A bursting bubble would make all previous estimates and calculations invalid. This method of making money is not immune from adverse external economic conditions, no matter how hard you work at it.
This is a good book that tells you how to work hard to make money for yourself in normal real estate market conditions where there is some price stability (the relationship between supply and demand has not collapsed).
Beware, rehabbers, you may be buying into the biggest real estate bubble ever. But if you invest in real estate for the very long run, as I do, you don't have to worry about bubbles because in the very long run you just see them come and go.
As of June 21, 2005 there are some signs that a housing glut is starting to develop in various real estate markets due to excessive speculation.
Practical April 26, 2004
68 out of 68 found this review helpful
As other reviewers have said, this is written for the layman. Maps the flipping process out and tells you how to do it in easy to understand language. A great starter book. Covers what to look for, working with an R.E. agent, appraisals, foreclosures, purchasing for cash(and how to get it), using private morgage lenders(the hard stuff!),negotiating, inspection, renovation, hiring contractors, and how to sell quickly for top dollar. The final chapter delves into some more advanced strategies. I'm just now getting into "flipping" books and this is one of the best.
 Not bad, looking forward to a less dated edition... April 1, 2004
64 out of 66 found this review helpful
Anyone spending the enormous amount of money needed to buy property can't frown at $13 for a reference book, if they can glean anything from the book. This guy definitely isn't a writer but the book did contain some good tips. Do yourself a favor and make sure you buy the newest addition - I picked up the '97 and it was extremely dated. My other issue with this book is he uses examples with very unrealistic dollar figures, even if adjusted for inflation. Do you think you're going to buy a $100,000 "handyman special" and renovate it until it's in "doll house/sparkling condition", with that renovation to include a new roof, updated baths, complete kitchen remodel, paint, carpet and landscaping...all for $9,000? Good luck. The roof alone could cost that much and certainly the kitchen is going to run more than $1800 if you're replacing cabinets; even if you were to buy the cheapest of the cheap materials and do the work yourself, in which case the end result would look cheap. To his credit, he harps on the fact that you need to do your homework and estimate all the rehab costs to build them into your offer price - but if you're new to this don't get sticker shock when your estimates for all the above items come in more in the $25,000 neighborhood. One thing I tend to disagree with is his contention that you shouldn't even consider doing the work yourself. If you're starting out and building relationships with subcontractors I think an advanced do-it-yourselfer can do almost anything, you have so many resources available to you with Home Depot, TV and the internet. The key would be getting things done quickly, so maybe farming out the time consuming and dangerous work is okay, but you can do the other stuff yourself much cheaper. Of course, after a few houses and once you've got a HVAC guy you trust, a plumber and electrician you trust and possibly drywall and paint guys you trust, you might take the advice of the book and spend your time looking for the next house.I did find this book useful enough that I'll be buying the 2003 edition today, you just need to look at it as another resource and not the rehabber bible.
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