Baby Boomers like myself have a huge advantage over younger folks who were raised in a time when things came easily. In the '50's, for example, most kids had to build their bicycles from salvaged parts. We had to create our own entertainment, and use our imaginations in order to get things we wanted and needed.
Because the times were harder, and money was more difficult to come by, us "old guys" learned how to accomplish much with very little. And that knowledge can help create wealth.
I remember my Dad wanting to turn the attic of our home into additional bedrooms for his 7 rugrats. Having gone through the Great Depression, he had learned a few tricks of his own. He looked all over three towns, finding old, run-down or storm damaged sheds, garages and other structures. He offered to remove those eyesores for very little money, which was a great deal for the property owners.
Dad made more than just that small profit, however. He was able to salvage a lot of materials which he used to rebuild and finish the attic. Not only did a couple of cramped kids get their own bedrooms, but the value of the house was increased without much cost. And the small amount of cash Dad charged for demolition and removal was used to give the rooms their finishing touches - carpeting, wallpaper, lighting.
Today, homeowners and investors can accomplish much the same, simply by shopping at local salvage yards (look in the Yellow Pages, or online). Salvage yards offer everything from raw materials (lumber, bricks etc.) to bath tubs, sinks, doors, windows, mantles - even some very expensive decorator items - all at steeply discounted prices. I even found a large supply of antique ceiling tins that I used in a formal dining room.
So, if you want to increase the value of real estate at minimal cost and maximum profit, consider shopping salvage yards and discount houses (like Building 19) that buy up distressed goods from other stores that have gone out of business. And even stores like Home Depot often have a lot of paint that customers rejected after it was mixed, and they sell those paints at a substantial discount.
Put on your "smart hat" and look for the bargains. They are everywhere!
1 comment:
This brings back memories. It seems a shame that young people today do not have to learn to be more self-sufficient. Not only does it teach us things, it is also fun. When I was a kid, I built a soapbox car, my own bikes, and had to entertain myself for hours - without the aid of electronic gadgets!
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