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David Fisher took on a huge rehab for his 1st property, but it paid off. After buying a house in forclosure for $50,000, and performing a $25,000 rehab, he ended up with a solid rental house with cashflow and equity capture.
He admits in the video that he made mistake of trying to do too much himself. On his next house, he will contract out all the dirty work. As Central Texas Multi-Family Mentor Chuy Terrazas says: “If you have a tool in your hand, you’re losing money!”
Follow along as David takes us through the house and the lessons he learned on his 1st property.
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Way to go, Dave!!
Well on your way to living the dream!
Much continued success!!
I have seen this house BEFORE and AFTER !!
WAY TO GO DAVE !!!!!!
Thanks,
I talk with so many people at case studies and different lifestyles events. They have been on the fence about taking action and have been following my progress since I joined Life Styles. I joined in April and was skeptical myself. I have proven it works through action. Now is the time to take that step and make it real. Seeing is believing. Making a plan of action and executing it gets results. Those of you that were skeptical as I was take the chance and at least come to a free workshop and learn from regular members like myself about how it worked for them. We don’t give you a sales pitch we have 0 to gain. I am not affiliated with lifestyles in anyway. I gain zero from this other than I want see others to succeed in a path to financial freedom. I want to scream from the mountain tops about how much this has changed my life.
Yes, I have increased my net worth through this endeavor.
What it also has allowed me was to gain back time. This is the most important aspect to me.
Once a property is stabilized it runs itself.
I do not care how much you earn a year. We all only have 24 hours in the day. When I owned my car stereo store I worked 16 hours a day and could not leave my store for even 2 weeks vacation without a nightmare.
That time constraint was huge it took a toll on my life both physically and mentally.
Now with this passive income through my properties I have gained back my freedom and time.
Yes in the beginning I was at my house a lot to make sure everything was on schedule. Now that a tenant is in place I just get a check in the mail each month.
So, we took that next step and worked hard getting my 29 unit apartment complex going we bought it in September and here it is December.
It now runs itself. We already have manager in place and I have been running it from San Antonio and the property is in Houston. It already is cash flowing more than expected as I reduced costs through methods taught by my mentors.
My initial plans when I joined in April was to acquire 5 houses within 2 years. I have exceeded this within a few months and now changing my goals once more.
The only limits to our success is those that we create in our own mind. I used to think and believe I could make this happen.
The most powerful thing that happened for me was now I KNOW it WILL happen !
Going from believing to knowing is super powerful !
You can do it too. Do not reinvent the wheel mimic others success. We do not do this alone we do it as a team.
I hope that I can convince Brian to make a video of my apartment complex next !! I want to share how you can follow the path from single family, to small apartment complex to a large complex.
I am living the Dream
David Fisher
San Antonio
David,
You are so inspiring. Keep up the good work.
Natalie Pilkinton
I’m very impressed Mr. Fisher. Makes me want to go out and buy something. Since not many people have the money to just go out and buy a property to fix up and the financial institutions are not in the greatest of moods to lend money at this time, have you thought about forming a co-op of sorts for small investors? I think investing with you would be a money making proposition. Very nice job.
I had my doubts Dave, but you proved me wrong. I can’t think of a more deserving guy. You’re an inspiration to us all, and a testament to the fact that hard work and dedication can reap rewards.
Congrats Dave. Best wishes in all your future endeavors.
Great video great job.
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A little sweat equity and a small investment later and WOW! Nice job David Fischer!
Never forget what the great business guru Ned Gillenwater said: “It’s all about the net operating income, baby.”
Good luck on the properties and God Bless.
Billy
Great Job Dave!
Waldo - My brother and I are LUIC members (my brother is a PIG member) and we are helping our clients get into cash flowing homes (as much as $500/month), and my brother himself has 2 cash flowing properties.
In Dallas there are plenty of deals out there and using the hard money lenders vendors will help you get into homes with very little cash in the deal.
Hope that you have a happy and prosperous 2010!
Great Job!
Wow! This is amazing. This really motivates me to do the same for myself. I met Dave and he really made me think about getting involved. He really has some energy and believes in this 100%.
I think he can move mountains after talking with him.
Thanks RobM.
Dave, you are a truly inspiration for the rest of us. It is amazing what you can do when you put your mind and all resources to it. Best of luck on all your endeavors. Living the dream!!!