Apart from the comfort and security you achieve by investing in your own home, the additional purchase of investment property can lead to both wealth ac ulation and cash flow.
Make sound investment decisions and you will enjoy the financial rewards. But make one or two key errors when you purchase, or when you renovate, and the mistakes can be financially crippling.
There are many seminars and books that tell you about how easy it is to make money renovating property, but they tend to gloss over the many pitfalls, and just how expensive those pitfalls can be. And it has been hard to get a good understanding of what can go wrong, and how to avoid them.
I have known Steve Houlihan for many years, and respect him as a businessman, a property investor, a renovator, a friend, and now an author.
“The 10 Deadly Sins of Renovating for Profit”, is a great book, which is based not on theory but on Steve’s own experiences with real properties. It is easy to read with practical examples of what to do, and also what not to do, when it comes to renovating property for profit.
In my business I deal with local and international property investors, who are buying real estate in both New Zealand and Australia. I am pleased to recommend Steve’s book as a very useful tool for those smart investors looking to add value, and avoid the pitfalls.
Investing in real estate can be an incredible worthwhile way to increase your wealth – if you follow the rules outlined in this book.
For investors and home owners alike, I consider Steve’s book to be as important a tool as the renovator’s hammer, drill and paintbrush.
NOEL AVENELL Managing Director AUSTRALIA FOR YOU REAL ESTATE Queensland, Australia
Commit ONE of the "Sins" in this book, and you may only break even; Commit TWO OR MORE and you could face FINANCIAL RUIN.
Remember this: renovating properties can be profitable, in fact VERY PROFITABLE. You will maximise you profit by making smart purchasing and renovation decisions. It doesn’t matter whether you are refurbishing your own home, flipping houses or rehabbing houses for profit, or w ver, these principles still apply.
Remember, real estate investment is probably the biggest financial commitment that you will make in your life.
Whether you are going to get involved in home improvement or not, the cost of making a poor purchasing or remodeling decision can be financially crippling. My book "The 10 Deadly Sins of Renovating for Profit" describes the pitfalls you can fall into, why people tend to make these mistakes, and how you can best avoid making them.
You could purchase and renovate property the way most other people do, and play "Russian Roulette" with your financial health.