"You buy fixer-uppers" - talk about a culture of helplessness! There's the assumption that the vast majority of the population is incapable of learning how to fix things.
Here's the scariest part: The vast majority of the population is unwilling of learning how to fix even small problems.
Damn, that sure is true! I mention what house rehab work I'm doing to people I know and some will make the comment that they wish they knew how to do that. My reply is a friendly, "Well, come on over and you'll learn!".
Talk about panic attacks! They can't change the subject fast enough.
Funny innit?
I'm 36 and just starting to get good at a lot of those things. A mostly-DIY rehab, spanning the last 4 months, of one half of a duplex we bought in December, has been one of the hardest, and most rewarding, experiences of my adult life.
I can understand not knowing. I was taught nearly nothing growing up, and only after my house in Mississippi was hit by Hurricane Katrina (just under a decade ago) did a neighbor take pity and teach me a few things - roofing and fence repair, among others. I'm still playing catch-up and there is a lot I don't know - no shame in that.
I cannot understand not
wanting to know. I always wanted to know. The more property I acquire the more I need to know. Contractors are fucking expensive!
And all that aside, buying fixer-uppers - anything from a small tool to a building - is one of the most tried-and-true ways to pay less than something is worth. Even if you have to pay someone else to fix it, it can be incredibly lucrative for investors.
I wonder if they've ever heard of a guy named Warren Buffett....