Flilpping Real Estate
Flipping real estate
Any investor will tell you the ideal way to invest in real estate is to purchase low and sell high. The key word is sell. You can buy any home on the market but if you do not sell it at a profit there is no sense in even trying. You’re in business to make money. Real estate can make someone quite a bit of money if they know what they’re doing.
You must first research the property to determine if it is a good investment. Once you decide it is worth the money step back and look at if from a buyer’s perspective. Begin with the outside. Check the curb appeal. If there’s none, this is the first place to begin when getting a home ready for market.
The interior of the home might be the most immaculate one on the block. Inside there could be all the amenities and perks a buyer could hope for. It may be the model home for the perfect family. None of this means a hill of beans if you can not get the buyer inside.
Drive past the home. What do you notice? Is it overgrown with trees and shrubs? Do you’ve a clear view of the home? Does it look run down or in need of repair? If you answered yes to any of these questions, there’s a problem. You will have to do something about it.
The smart realtor will tell you the first things a buyer will notice is the outside, the kitchen, and how many bedrooms there are. In that order. Take a look at the outside and decide what you can do to make the home more attractive to the buyer. If you have to tear out shrubs, then do so. You may have to mend broken concrete. The driveway might need repaved. This is where you need to spend most of your money. Everything inside is just cosmetics the new owner will most likely change anyways.
Let us assume you’ve bought a home to fix and resell. The home has four bedrooms, 2 bathrooms, and is 2,800 square feet. This would make it the perfect family home. The buyer you want to attract is going to drive by and see what the exterior looks like before calling. When that buyer drives by and sees a broken trampoline in the front yard with dead tree branches overhanging the front porch they will keep right on driving.
The buyer is looking for the perfect family home. A neat, clean yard is the first thing they’ll want. The second is a nice kitchen. Sell the kitchen and you sell the house. This can be done with a simple paint job and some new cabinet doors. You do not have to spend a fortune remodeling the kitchen. Add new hardware to the existing cabinets. Paint it a white or off-white color. Make it clean. Women hate dirty kitchens and will walk right out the front door when presented with one. You can save many headaches by just cleaning and painting.
When you paint, always make the colors neutral. This allows the rooms to look neat and clean. The buyers can envision what the home will look like with their furnishings. They’ll be able to see themselves in the home as they want. Bright, bold colors can scare people away faster than a rat in the cellar.
With these easy tips there is no doubt you can purchase and sell with confidence. You will see the hard work pay off in the profits from the home. You’ll not have to lose money by doing remodeling work that is not necessary. The net profit will be higher. Real Estate Investing Experts Kim and Charles Petty have been involved in over 700 real estate transactions in the last 9 years and are the creators of the Ultimate Turn Key Virtual Real Estate Investing Systems. For a FREE Special Report and Audio on how you too can make Six or Seven Figures A Year Buying and Selling Properties across the USA & abroad go to http://www.VirtualRealEstateInvestingProfits.com or call 1-800-311-9228.
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