I have found the “cure” for “Rehab-itis”. - Posted by Jim IL
Posted by Jim IL on December 06, 1999 at 14:13:14:
I am sitting here chuckling a bit today. You see, EVERYONE I know has at some point made a comment on how they’d like to get into investing with me. Most then proceed to tell me that “the way to make REAL money is to do a rehab.”
I of course TRY to stear them clear of them, as I have already learned my time and energy are better spent NOT doing any REAL WORK. (Hammers are not my thing.)
But, recently, I agreed to do a deal with my father.
We got a duplex that needed minimal work, and he agreed to “handle” all the repairs.
Here we are a few weeks into the deal, and most of the needed repairs are complete, but guess what?
Dad is frustrated, and keeps talking about, “Everytime I fix something, I find more to do!!”
Since he is my father, I cannot say, “told you so!” (although I am thinking it daily. Õ¿Õ)
So, dad does still want to do some deals with me, but he is now thinking that maybe his son was onto something with the idea of “pretty houses”.
So, the cure for “Rehab-itis” (the disease of wanting badly to try it), is to actually do one.
I can only imagine doing a FULL REHAB! This one we have is really a small job.
Just wanted to share that with you, and help you to avoid the temptation of getting into these “GREAT Rehab deals”.
They are definitely not for me, or Dad any longer.
Have a nice day,