Friday, June 19, 2009

The Zen of Investing in Rental Properties

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The Zen of Investing in Rental Properties:
Inner and Outer Wealth


As I promote my book “Fix em Up, Rent em Out: How to start your own house fix up and rental business in your spare time,” something curious happens. When I appear on radio shows, one of the most frequent questions that I receive from the show host and from call-in listeners was, “can you explain what you mean by The Zen of Repairing Properties?”. That was the title of a chapter in my book. I was surprised by the response and attention that that chapter attracted. I thought, what’s going on here?

On the radio shows, I explain how I felt a sense of exhilaration and deep satisfaction, as I was making repairs on my fixer-upper house. It was like a religious connection to the spirit, or to my true nature. I could tell that I was on the right path, and in complete harmony with my deepest connections by the feeling of joy and fulfillment that I felt.

In fact, that chapter on The Zen of Repairing Properties was one that I most enjoyed writing because it was so close to my heart. The more radio shows that I appeared on, and the more calls I received, the more I considered expanding my thoughts on that chapter.

Many books discuss the business side of making money in business, but few address the spiritual dimension. Money provides happiness on one level, but we have all known or heard about people who are wealthy yet their lives are in complete disarray. Spiritually, their tank is running on empty.

Although the same principles apply to many types of businesses, I think real estate investing and the rental house business are uniquely suited to tie the spiritual and the profit sides of business together.

Lao Tzu, in The Book of Life, said:

Man at his best, like water,
Serves as he goes along:
Like water he seeks his own level,
The common level of life,
Loves living close to the earth,
Living clear down in his heart.


Herman Hess, in Siddhartha, said

Within you there is a stillness and a sanctuary to which you can retreat at anytime and be yourself.

As the Bible says,

What does it profit a man to gain the world, and lose his own soul?

Is it possible to serve like water, find that sanctuary within, gain the world and not lose our souls? I think the odds are pretty good.

To be continued . . .

Here are my upcoming radio guest spots:


June 23, Greg O'Conner, WKHM, Jackson, MI, 9:30 am
June 26, Jason Mansmith, WRPN, Ripon, WI, 9:15 am
June 26, Peter Stewart, WABJ, Adrian, MI, 10:00 am
July 1, Jeff Anderson, KSPR, Waterton, SD, 7:00 am


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Monday, June 1, 2009

MP3 of Interveiw with Sam Bushman on All Things Real Estate



Here is my interview with Sam Bushman, on his great show Real Estate in Focus (KHQN 540 AM, Delta, UT), May 23, 2009.

http://www.arnaudio.com/rif/shows/rif20090523.mp3

Here is the promotional blurb from Sam's site:

Real Estate In Focus 95
Saturday, May 23, 2009 10:46 AM
5/23/09 - Interview: Terry Sprouse Terry Sprouse buys fix-up houses, repairs them and rents them out in his spare time. He is author of the book "Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-Up and Rental Business in Your Spare Time." This blog discusses aspects of buying, repairing and renting out fix-up houses. Practical advice from someone who does it every day. His web site is a how to blog. You can even ask him questions for free. www.fixemup.org


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Thursday, May 28, 2009

New Review Of "Fix em Up, Rent em Out" at Your Online Handyman !!

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Youronlinehandyman.com has posted a review of my book "Fix em Up, Rent em Out."

Here is an an excerpt from the review:

The author Tery Sprouse wrote this book for the person with a limited amount of disposable income who wants to invest in real estate, but want to keep their 9-5 job. He takes you through his experiences in real estate and really takes years off the learning curve. Naturally since I am so into home repair I found those aspects of the book fascinating, getting to hear exactly how he approached each job even when he often had limited experience. Of course the chapters of the book that talked about real estate as an investment were also very informative.

But this book is more than that, “Fix Em Up Rent Em Out” is about growing as a person while learning how to fix up properties which happens to be the exact same theme of this site. The book is about life as much as it is home repair. It’s about doing what you want in life and doing what you enjoy. While the entire book was very well written and methodically went from chapter to chapter I especially could relate to chapter six, The Zen of Repairing Properties which talks about developing as a person by doing what you enjoy and living life on your own terms.

Terry really has a great philosophy on life! In chapter 1 he talks about living life to the fullest and accomplishing in life the things that you really want to do. He explains to you how to take your life in a direction that you want to go in even if what you want to do is not possible right now. You really could get the feeling that he loves what he is doing and wants to share it with the world.


Here is the entire review.

I encourage you to check out other posts at Your Online Handyman that are packed with great information about how to paint ceilings (and enjoy it), how to keep group lines clean, how to keep thos pesky dust mites out of the house, and much more.

Here are my upcoming radio guest spots:

May 29, Gary West, WBVP-WMBA, Beaver Falls, PA
June 2, Phil Rivera, WLTN, Littleton, NH
June 5, Mark Wayne, WICH, Norwich, CT
June 9, Ron Ross, WJBC, Bloomington, IL


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Friday, May 22, 2009

Listen to Radio Interview on The JOLT.

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On Monday, May 18th, I was interviewed by Mark Ross of The JOLT 1330 am in Tucson about my book "Fix em Up, Rent em Out," and about my rental business.

The first 15 minutes of the one-hour program is Mark reviewing recent economic indicators related to real estate investing. He is the owner of Prime Capital Mortgage Brokerages. After that I come on as guest and Mark interviews me for about 45 minutes.

We cover subjects such as how I got started in the fixer-upper/rental house business, how I locate properties, and the easiest ways to get started investing, among several other provocative topics.

Click here for the entire radio show Radio Interview

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Here is a list of my recent and upcoming radio interviews:

April 24, Dick Farrell, WPRR, Lake Worth, FL
April 30, Carinda Horton KDAL, Duluth, MN
May 5, Bob Schmidt, WIZM, La Cross, WI
May 18, Mark Ross, KJLL, Tucson, AZ
May 18, John Brown & Trish Gazelle, KTRS, St. Louis, MO
May 23, Sam Bushman, KHQN 540 AM, Delta, UT
May 29, Gary West, WBVP 1230 AM, Beaver Falls, PA (not confirmed)
June 9, Ron Ross, WJBC, Bloomington, IL

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Friday, April 24, 2009

Radio Interview on WPBR in Florida - Is now a good time to invest?

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I was interviewed by Dick Farrel, of WPBR 1340 am, in Lake Worth, Florida this morning. He asked me if I thought this was a good time to invest in real estate.

I said that even though the economy is as flat as Bill Clinton's trampoline, now is a time that real estate investors dream of. Interest rates are hitting rock bottom and prices are low and squishy as a sponge. If you have a steady job, good credit, and patience to jump through all the hoops to get a loan, you can take advantage of this rare opportunity.

I don't have any problem jumping through the hoops since I jump to conlcusions all the time.

The entire interview will run at 6:45 pm eastern time tonight.

Coming up:
Next Thursday, April 30, I have an interview Corinda Herton at 610 am DKAL in NE Wisconsin/NW Minnesota, at 11:35 central.


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Monday, April 20, 2009

Radio Guest on the JOLT 1330 am

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For those in the Tucson area, I will be a guest on Prime Talk with Mark Ross, March 18 from 5:00 pm to 6:00 pm. The radio station is the JOLT at 1330 am.

I will be talking about my book, and my perspectives on investing during the recession.

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Friday, February 13, 2009

Breakdown of townhouse purchase costs

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Here are the final numbers on the rental property that I purchased.

Price: $106,000
Interest rate: 5.125%
Term: 30 years
Down payment: $21,200
Principal & Interest: $457.37
Taxes & Insurance: $128.87
Total monthly payment: $586.24
Estimated rent: $770

The townhouse is 1100 sq.ft., 2 beds & 2 baths, washer, dryer, carport, and small back yard. It has a great central location and should rent easily. I have another property nearby that is very easy to rent.

It needs some cleanup in the kitchen, fire alarms, blinds in the windows, new toilet sets, etc. There is nothing big that we have to do to it. With my wife and kids pitching in, we should have it ready to go by the end of the weekend.

Here are a few more photos of the kitchen, the living room, and the back yard.








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