Real estate investors typically seek foreclosed or older homes because they come at a good price. But often times, these types of homes require a little (sometimes a lot) of love. At the end of the day, the work you put into your rehab property should generate a considerable return on investment. So, how does one determine if they should rehab to rent or rehab to sell?
When picking a property to fix and flip, a few of the most common ways to add value include: kitchen upgrades, finishing basements, a new paint job, and installing new flooring. However, there are a few other not so obvious ways to enhance your property, especially for the millennial crowd.
We live in a day and age where technology dominates our lives. We are more connected than ever through our smart phones, tablets, streaming devices and even our TVs. In a 2015 survey by Better Homes and Gardens, 64% of millennials surveyed were interested in having smart technology in their homes.
Sometimes working alongside your spouse can be a challenge. There are couples who pull it off magnificently, see Chip and Joanna Gaines, while there are others who encounter serious problems. But it doesn't have to be the end of the world if you do come to a disagreement - you just need to be patient, learn to communicate and plan. Here are some tips to help you and your spouse work together to buy, fix and flip a house without undue drama:
When you invest in fix and flip properties, you know that you are going to have to dedicate time, energy and resources renovating the properties that you purchase. However, there are some renovations that are worth more than others.
As you develop your house flipping budget, consider focusing on these 4 renovations to maximize profits:
When it comes to real estate investing, most flippers are looking for two things: a quick sale and a high ROI. And unless you’re flipping an urban condo or co-op with no private outdoor space, your landscape decisions can have a big impact on both your turnaround time and profit. In fact, Bankrate reports nearly three-quarters of home buyers believe landscaping is an important factor when buying a home, with a well-executed landscape project yielding a 215% ROI on average.
To maximize your real estate investment, balancing the perfect amount of hardscape and softscape is the key to creating a beautiful exterior that will ensure a quick sale for your fix and flip. Here are some pointers:
Determining what parts of a home should be renovated can be a tricky decision. As the majority knows, money doesn't come easy and large-scale renovation projects should be thought-out and planned wisely. Should you remodel the kitchen or update the bathroom? Is it the right move to transform the attic or should you instead spend extra money finishing the basement? We've got some pros and cons for you which will help you determine if your money should be spent on a basement remodel or if a different area of the home should call dibs on your time and money.
We've all done it, don't worry. You get jazzed about the idea of refreshing your walls with a new coat of paint and run out to the hardware store without taking the time to fully measure the room(s) you will be painting. Whether you're a weekend warrior or fix and flipper, it's important to plan right so you don't leave extra dollars floating around in your leftover gallons of "Cream Puff" high-gloss paint.
This blog lays out the basics for measuring the right amount of paint and choosing the best finish for your next project.
It’s a dreaded situation no one expects or wants to think about, but unfortunately, this scenario can become a reality. If you have found yourself in this position, there are certain steps you can take to keep your project moving along.
So, what do you do if your contractor has jumped ship? This blog lays out a plan to help get you to the home renovation finish line.
It's tempting to visualize the gorgeous new stone counters and backsplash in your trendy remodeled row house, or to fantasize about how to spend your share of the "flipping" profit. But without a specific action plan that includes extensive market research, a realistic renovation schedule and cost breakdown, and the talent to make it all come together, such dreams can fail to ever get off the ground or, worse yet, result in a financial loss. The business of real estate investing is just that, a business that requires mastery of a specific set of skills. It's not rocket science, but it's not as easy as flipping burgers either.
Here are some tips to assure that your dreams of fix and flip success become reality.