What if you don’t want to own the four-family? You sell it. You take your profit and you buy something that you do want to own. Don’t allow the details to obscure the larger picture. Is there a guarantee that you can sell the house that you buy for $120,000 for $160,000? Of course not; be patient and leave a wide margin for error. With time and research, you will put your deals together. The $160,000 price is your best estimate after you buy it, clean it up and resell. There are no absolute guarantees and that is the main reason that most people don’t have the courage to take a risk. They would prefer a guarantee. You can find investments that are guaranteed but the investment returns are minimal. The Master Success System is giving you the courage to do more, to build confidence. You research. You make lots of offers. You buy. You sell. You profit.
Is the point to buy junk property? No, the point is to buy real estate for less than what it is worth. You buy real estate for less than what it’s worth by researching and becoming an expert at value and by making offers. The examples of the run down property and the mansion are illustrative of the concept. The location doesn’t matter. The type of property doesn’t matter. The price does matter. The right acquisition price allows you the leeway to buy, hold and resell at a net profit after expenses.
Beware of fixer-uppers. Fixer-uppers are not automatically good deals. In fact, if you aren’t a professional contractor, they can be money pits and very bad deals. Stick to making a reasonable profit based on your research, your finances, your time and your maintenance skills.