|
Article:
Rehab Your Way to Wealth: The Quick Way to Fixer-Upper Success
By Mark Barnes
Completely rebuilding a house is not necessary
to make money in investment real estate. Most times, if
you have bought smart, you won’t have to make a huge
improvements on your investment property. Look for places
that need only a small amount of work. For example, look
for a property that appears to be run down from the outside,
but does not need major repair. Here are a few tips for
saving money and making quick improvements, in order to
quickly sell your rehab property.
1. A house may need a coat of paint but have
a nice roof. The paint might cost a few hundred dollars,
while a new roof might cost $2,000 to 3,000. Plus, a fresh
coat of paint makes almost any house look brand new.
2. Check the foundation very carefully. Foundation
work is extremely expensive. I would stay away from any
house with a questionable foundation.
3. Like exterior paint, landscaping goes very
far in terms of curb appeal, one of the biggest factors
in the sale of any kind of real estate. A house with uncut
grass, weeds overrunning flowerbeds, and poorly trimmed
bushes or trees is very difficult to sell. Conversely, a
house with minor deficiencies in other areas may still have
a buyer, who wants something that looks good from the outside.
4. Look for investment properties that have
nice kitchens or kitchens that can become nice with little
effort and money. If you can refinish some cabinets and
lay some cheap flooring, this will help you sell, because
women are instrumental in the final decision of most real
estate purchases, and they love nice kitchens. It’s
not sexist; it’s a proven real estate fact.
5. A finished basement or one that can be
finished easily will also help you sell your new investment
property. Basement carpet can be purchased and installed
for very little money. Again, some paint on the walls can
go a long way to making the basement homier. Add a drop
ceiling – easy to install and very inexpensive, and
you can have yourself a rec room for a few hundred dollars.
Although these are not the only things that
will improve your property, they are a few of the cheapest
and easiest. Plus, these are improvements that will increase
your investment property’s value exponentially and
make it easy to sell.
Mark Barnes is an investment real estate and
real estate finance expert. Get his free mortgage finance
course at http://www.winningthemortgagegame.com. Mark is
also the author of the new novel, The League, a shocking,
sports-related conspiracy. Learn more about his suspense
thriller at http://www.sportsnovels.com.
Article Source: http://EzineArticles.com/
|
