Buying residential real estate can be one of the best investments you will make in your life. 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 accumulation 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.
Why most property investment magazines get it COMPLETELY WRONG when explaining how to profit from renovations.
Why you need a COMPLETELY DIFFERENT MINDSET when renovating an investment property as opposed to your own home.
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…