subject: Rehab-real-estate: Using Creativity To Fix And Flip Houses [print this page] Rehabbers are always facing financial constraints when they fix and flip homes. With a little budget, they must make a house livable and attractive. Some rehabbers tend to spend more when they feel unsatisfied after exausting their repair budget. Others, however, augment money with some creativity. Here are some creative pointers that will help you maximize your budget when making repairs.
Pay attention to small things. There are petty repairs that can actually raise the value of the property significantly. How much is a plant in a pot? How hard is it to make a new mailbox? How many hours will you take mowing the lawn of a small yard? It surely wont take much time, money, or effort to do all these. These are small, cheap, and fast cosmetic repairs that give your property a good image.
The front yard is what the buyer sees first and it this part of the property gives out a lasting impression, then thats bigger chances to sell. That also translates to a higher price and a stronger position for rehabbers to negotiate with their buyer.
You might want to fix and flip the front yard last. There are reasons for this strategy. First is to avoid damaging the garden while repairs are still being made inside the house. You wouldnt want paint, wires, and concrete spoiling your lawn. Also, you can use excess materials is beautifying the yard. For example, you can make a new mail box from excess chunks of wood.
To be more creative, you must also make sufficient research on the area where you fix and flip properties and about your prospective buyers. For example, if the area is near a primary school, your prospective buyers would most likely be families with young children. Why not put a swing in the front yard? Thats a chunk of wood and some rope tied on a tree. Parents envision their children playing outside the window. When rehabbers are able to make them feel at home, youll likely convince them to buy the property.
Many investors do not recommend putting up and tearing down walls because this activity is tedious, time-comsuming, and is not cost-efficient. However, you can use this technique to raise a houses value by around $8,000 by just spending a few hundred bucks. Research on how many rooms your prospective buyers might like and modify the house based on that. If it has three rooms and buyers like four, maybe you can put up a wall to divide a large room into two.
Remember that when you fix and flip property, you can be short of money but not creativity. Learn more about rehabbing at rehab-real-estate.com, your online source of videos and articles about rehabbing houses.
by: Carrie Dawson
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