News Column

The Knoxville News-Sentinel, Tenn., Carly Harrington column

February 14, 2014

By Carly Harrington, The Knoxville News-Sentinel, Tenn.



Feb. 14--The first house Chuck Ward owned, he had built and later sold at a profit.

By the time he purchased his second home, an older house that he fixed up, Ward decided to start aggressively looking for a property to flip.

At 21 years old, Ward had made $25,000 on his first go-round.

"It was learn as you go. At that time, there was no how-to book on flipping houses," Ward said.

More than 25 years and 600 flipped houses later, Ward has been able to create a successful full-service property investment company, Chuck Ward Real Estate Investments, that buys, sells and restores homes for resale in Knoxville, Maryville and Sevierville.

Now, Ward wants to take what he's learned over the years and share it with others.

Ward already uses his experience to help callers on his weekly morning radio show, "Fix It or Flip It with Chuck Ward", on 94.3 FM every Saturday.

He plans to hold a free seminar at 1 p.m. and 4 p.m. on Feb. 22 at Gettys- vue Golf and Country Club. Additional seminars will be held in Knoxville and regionally.

The program is geared toward first-time flippers or those interested in becoming investors. He's also working on a book about it.

Ward said attendees will learn how to find a property in need of repair. He'll give them the knowledge to fix it and sell it at a profit.

"I feel like there's a need for something like this. There are other programs out there that want you to buy a book or CD but you need hands-on experience. We want to provide them with an honest way to do it," he said.

The time has never been better to try.

With the weakened economy, the housing market has seen a drastic reduction in prices, making entry into the business more affordable. At the same time, more people are looking to rent.

For instance, a two-bedroom, one-bath starter home that may have been listed at nearly $80,000 before the recession can be bought now for $60,000 or less.

Since 2006, Ward has averaged 32 houses a year. He currently has six properties under renovation, 18 in inventory and 15 rental houses. It takes about four months to flip a house before it starts eating into profits.

Much of his business acumen he got from his father, who owned a deli and bought and sold antiques. Ward said he learned early on the benefits of hard work and how to earn people's respect.

"My friends call me the Peyton Manning of house flippers. I think that's about the best compliment you can get."

For more information, visit http://chuckward realestate.com.

___

(c)2014 the Knoxville News-Sentinel (Knoxville, Tenn.)

Visit the Knoxville News-Sentinel (Knoxville, Tenn.) at www.knoxnews.com

Distributed by MCT Information Services


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Knoxville News-Sentinel (TN)


Story Tools