BECOMING AN OWNER BUILDER
I started my real estate investing at the relatively young age of 18. While most of my friends were thinking of buying their first car, chasing girls and sneaking into the local pub for a beer I was voluntold by my parents to invest in a house. Back then it didn’t make much sense to me, sinking my hard earned savings from years of summer jobs into a plot of land with an old house on it was probably the furthest thing in my mind, I had dreams of fun and adventure why would I want to tie up my money. Of course now I can look back on that decision to buy that place and see how that both spurred my current interest in real estate and how that investment gave me a head start financially.
I owned that house for a few years. Originally I rented it out, the rent covered my mortgage and taxes the tenant paid for utilities. I know now I was lucky with my tenant, no complaints, always paid on time and she stayed there, year after year, so I never had a vacant house. I was building equity by doing little more than showing up once a month to collect a cheque. At 21 years of age my personal life was quickly changing, I had moved out of town to start a job, got married and bought another home. But leaving town to start a new life was more difficult than expected so I transferred back to my home town to plant my roots. In a strange bit of coincidence my tenant, after spending years in my house gave me notice she was moving out. With the timing near perfect I decided my little rental house would become my home; this resulted in my next real estate experience, renovations.
Both renting and renovating netted me profit but they also come with their own challenges. As a landlord you should be receiving a monthly income from your property but that’s only if it’s rented and the tenant pays on time. You get long term security as you slowly build equity, it will take years but you will see your investment almost paying for itself… eventually. Being a landlord can be time consuming and come with its own headaches of dealing with emergencies, repairs and tenant issues. Rental properties are long term investments.
Renovations will improve a property as soon as it’s done. The cost you put into the renovation should be considerably less than the return however that’s not always the case. Those hidden surprises you didn’t expect can eat away at your profit before you even see it and depending on what it is it can take it all away.
I came away from renting and renovating netting nearly $60 000 in about six years. That sounded pretty good, until I started building houses where I was netting $60 000 to $100 000 in six months.
My first house was a bit of trial and error but a great learning experience. I did not know the steps to building a house but learned as I went along. There is an amazing sense of excitement and accomplishment seeing your home go from thought to paper and then to reality. I took what I learned from my first home and built another, then another and yet again once more. As I continued I streamlined the building process, learned what I need to do and figured out how to build a fantastic house and make a large profit at the same time. I went from making a small profit on my first home to making over $100 000 each time I built a house.
As I told people about my real estate endeavours I could see the excitement it brought to them and saw they too wanted to know and learn how to successfully build a home and earn a huge profit. I took my years of building experience, the knowledge I attained and success I've achieved and developed "THE BLUEPRINT", a guide that anyone with no construction knowledge or experience can use to reach the same fantastic results I see in each home I build.