I remember the first time my wife bought a foreclosed property. It looked like it went through a fire. It looked like a mess.
She saw something that most people did not see. They definitely did not see something that is worth repairing much less paying several hundred thousand dollars for.
But my wife saw something else. That’s how powerful her vision is. It’s no surprise that she has made several hundred thousand dollars flipping homes that were in such a bad shape that people would not even think that they were fit for human beings.
May be they were fit for coyotes, rats, raccoons or some other vermin but not human beings. At least not two legged sentient, thinking, rational, logical beings.
My wife has a way of turning things around. Interestingly enough, she has made quite a bit of money through flipping foreclosed properties.
It may look like a pile of trash to you, but when she’s done with it, it looks like a palace. Maybe she has some sort of magic. I don’t know what it is. Anyway, I’m sharing this with you because while it’s true that there is fast cash in real estate foreclosures, it’s not as fast as you think.
It’s not as fast as a lot of people think because they fail to look at contingencies that pop up over and over again. We’ve been at this game for several years now. One thing is clear. When you’re out there working on foreclosed properties, you may not always have access to the power grid.
In the United States, a lot of people are under the impression that they will always have power when they need it, where they need it or however way they want it. Everybody can assume that but unfortunately, you probably will find this out in the worst way possible.
This is especially true if you’re flipping or working on foreclosed properties that are off the beaten path. My wife and I have flipped properties that were the victims of forest fires. These are homes that are located far away from the grid. In many cases, they are located on the borderlines of wilderness areas.
These are definitely far off the beaten path. I raised this with you because if you’re going to be making money by flipping foreclosed properties, you have to be ready. You have to be prepared.
One of the ways my wife and I successfully worked on such distant and far properties, without having to resort to expensive generator sets is through a recreational vehicle. The great thing about working out of an RV is that you can sleep there like your home and do renovations work during the day.
Also, an RV is so big that it can pack enough power and mobility to take care of your flipping projects whenever you need it, wherever you need it. In other words, it maximizes our versatility, flexibility, and mobility. As awesome as this RV solution may be, it’s not without shortcomings.
You have to understand that if you’re running all sorts of power-hungry devices and equipment on a worksite, sooner or later, your batteries will tap out. It’s just a matter of time. Some days are worse than others.
This is why my wife and I got solar panels for our RV. This solved our problems because while the RV’s sitting out there in the Southern California sunlight, it’s soaking up enough solar energy so that we can get the power that we need just in case our RV generator isn’t up to the job.
Do yourself a big favor. Regardless of where you’re working on foreclosed properties, look into solar panels for RV vehicles because they can be a lifesaver. They definitely give you a tremendous amount of flexibility and maneuverability. Believe me. A little bit of portability can go a long way.