Vectors and 3D Models
Local Search - Finance
Weather Information
Get the App for Smartphones and Tablets

Go Back

WhmSoft Free Articles Directory
Free Articles for Reprint
Free Articles to Publish
Free Articles for Newsletters
Videos to Watch

Page Generation Date and Time:
12/08/2019 08:29:35

Free the Animation VR / AR
Play to reveal 3D images and 3D models!
Demonstration A-Frame / Multiplayer
Android app on Google Play
vlrPhone / vlrFilter
Project of very low consumption, radiation and bitrate softphones, with the support of the spatial audio, of the frequency shifts and of the ultrasonic communications / Multifunction Audio Filter with Remote Control!

Alexa Data

Go To Articles Directory Home Page

To get the current article, - See Below (at the bottom of the page) -.
For top news titles, see below.
Web sites and videos listed in this page are frequently updated.
If you find that this page is useful (quality of web sites, images and videos, ...), you can add it to your favorites.
Bookmark Page !

Tell a Friend:

With your mobile phone (WAP / I-Mode / iPhone / PDA), for free:
The Top News -
The Daily Files -
All the Directory Files -

Web version of feeds:
Podcast Music -
Daily Files -

You can play the Guitar Drum Revolution game (flash game) by following the link below:
Play Guitar Drum Revolution Game

You can play free online games (flash games) by following the link below:
Free Online Games

Play the samples below:
Christine Se MarieWack O WackJungle QuestFortress GamesMahjongg Artifact 2

You can view the people (celebrities) news and the front page news (with videos, images and constant updates) by following the link below:
View Recent News
or by visiting the WhmSoft Service blog:
News Photos Slideshows

Article Keyword Videos to Watch
Click on the image to start the video.

Related Topics
Images - Links - Articles


Related Images

Article Category Videos to Watch
Go to the Videos Pages

Losing Money In Real Estate - A True Story

What if you were able to buy a decent two bedroom home for about ,000, fix it up a little and put it on the market for ,000? Do you think you could make some money that way? This is the story of a man who lost it all that way, followed by a few lessons to be learned from his sad tale.

The story takes place in 2002, in a mountain town in Montana, where the last of the good jobs had left town twenty-two years earlier when the copper smelter closed. It is a beautiful town, but the resulting economic decline caused a population decline of more than 30%, down to about 7,000 or 8,000 people. My wife and I bought a great little house there for ,500, so home prices had obviously tumbled along with the population.

A neighbor, at eighty-years-old, decided to become a real estate investor. He bought the house next to us for around ,000, and borrowed more from the bank to fix the place up. Given the price of our own home and the fact that this other house wasn't nearly as nice, I wondered if he had overpaid. He seemed sure that he had a good deal, though and could make some money.

As the weeks went by, he did get the place looking better. He put in an incredible fireplace, and new carpeting. The electricians worked on the old wiring on and off for a long time, always finding something else that needed to be done, and then taking their time doing it. The old guy was paying by the hour, with no contract, of course. The heating system needed replacing, at which point our neighbor mentioned, "I didn't know the house had so many problems." At some point his enthusiasm started to fail.

His bank account started to fail too. Eventually he admitted to me that he had over ,000 into the place, but still seemed certain he could sell the home for ,000. I politely nodded. It was too late to say anything anyhow. He didn't even have money to fix up the rusty iron fence around the house. In fact, from the outside, the appearance had hardly changed at all, since all his money went into the interior.

The sign went up, though I am not sure why the real estate agent wanted such a listing. Perhaps it was with the hope that he would maintain the listing when the bank took the house and dropped the price. In the end, that is exactly what happened. "I gave the house back to the bank," the old guy told me one day.

A Few Real Estate Lessons

I like this story because my old neighbor did so many things wrong. This makes it a great teaching story. Often real estate success consists as much in avoiding common mistakes as knowing intricate techniques. Here, then are some of the mistakes he made.

1. He had no plan. He had only a vague idea about what he would do and how much the home would sell for.

2. He had no idea of how to value a house. If he had compared the home to recent sales (like our ,500 purchase next door) he would have realized that the most he would get for the home was probably around ,000, if that.

3. He had no concept of his market. This was a two bedroom starter home. Buyers for these homes are not looking for a fancy fireplace.

4. He had no contracts or firm quotes from contractors. He let them find as much as they wanted to do and charge him by the hour.

5. He didn't get an inspection. Had he gotten the home inspected, he might have had some idea of how many problems it had, and how much it would take to correct them.

6. He didn't understand the concept of return on investment. Even if buyers liked the fireplace and other features he put into the home, these features probably increased the value less than what they cost.

7. He didn't have enough money or financing lined up. This was a fortunate mistake, perhaps. Since the project was doomed to fail, it may have been good that he ran out of money.

Why not learn from the mistakes of others? As a side note, we selectively put ,900 into our home there for a total investment (with purchase price and closing costs) of ,800, and sold it for ,000 four months after we bought it. We might have been lucky, but we also avoided some common real estate investing mistakes.

About the Author: Copyright Steve Gillman. For a Free Real Estate Investing Course, visit:

Recommended Web Site(s):

Easy Articles Home Page - Articles Directory

Recommended WhmSoft Web Sites, Feeds and WAP Address:

WhmSoft Software Home Page - Software
WhmSoft Services Login Page - Music and Images
WhmSoft Moblog Home Page - Blog - Photo Gallery
WhmSoft Free Online Games Home Page - Flash Games
WhmSoft Services RSS Feed - Daily Music, Image and 3D Flash Animation
Classical Music with Drum RSS Feed - MIDI and MP3 Files
Classical Music with Drum Podcast Feed - MP3 and MP3 Files
WAP / I-Mode / PDAs - Daily Music, Image and Flash Animation

Home Pages:

WhmSoft Free Articles for Reprint Home Page
WhmSoft Services Home Page - Music and Images
Copyright (C) 2006-2019 WhmSoft - All Rights Reserved.