Fixer Upper Properties Investment Properties Homes for Sale

When searching for a new home or a potential investment property aim to buy wholesale only. There is no reason to pay retail prices when the market if flooded with inventory. Search for properties that are priced for a quick sale. And if you have a creative vision and can see prospective property for what it can be not what it is right now, you will find many great deals that may need some cosmetic improvements.

Today you shouldn’t have any problems finding several great investment properties; however it would be wise to double-check your projected repair costs. Always get at least three contractor estimates and a home inspection is a must.

You only want to buy houses that need cosmetic repairs. Try to avoid homes with major structural or mechanical problems. In older days it was possible to purchase 3 bedrooms 1 bath and add additional bedroom and bathroom to increase value of the property. You can still do it, but why? With so many deals on the market you shouldn’t have problems finding properties that need only $5,000 to $10,000 in repairs.

Homes in foreclosure are often priced well below the median price for that area. This is because banks will sell homes at or near the amount owing to them from the previous owner.

Flipping fixer upper properties can be very lucrative, but only if you’re careful with your investment in renovations. You’ll be surprised how small and simple changes can increase the value of your investment property, even in depressed real estate market.

Your goal is to make your investment property appear warm and inviting to potential buyers. Even if you are a buying fixer upper with intend to wholesale it for a quick profit, cleaning up and removing any trash can go a long way.

If you prefer to do the renovations yourself, than painting with light neutral colors, replacing window and floor coverings will make your house much more inviting and can add a perception of space even to a small house. Avoid fancy colors schemes or designs. Your goal is to try to appeal to as many potential buyers as possible and to persuade them to see your property as their new home.

Remove any junk from the front loan and allocate a budget for landscaping. The success of your venture depends on your property’s curb appeal. If potential buyers see junk outside they will assume there is junk on the inside as well.