| If you were to believe all that you hear on the news in recent months, you can be left believing that the entire real estate market in the U.S. is in a steady downhill slide.
New revitalization efforts in several areas of Houston, including Bellaire has led to a stabilization and in many instances measurable appreciation in home values. This has left the door wide open to savvy real estate investors, who are once aging looking to get back into the lucrative business of real estate investing.
Back to Basics
Buying and flipping fixer uppers is once again looking practical and profitable however, there are a few things that you have to bear in mind. Towards the end of the last real estate boom the term “fixer upper” was completely forgotten about, as people found that they could turn a handy profit on a home without ever having to touch the investment property that they had purchased.
Estimating Repairs
While this is once again possible in most instances it is simply not the case. This means that just like ten years ago, it is imperative that you be able estimate costs on renovations and actually do profitable repairs and renovations if you plan on succeeding in todays tighter real estate market.
Learn to Estimate Home Repairs
This doesn't necessarily mean that you have to be an expert in home repairs. However; it sure helps if you know how to recognize and estimate repairs on crucial ares of a home such as foundations and roofs. Also, you may want to get some painting equipment together and learn to use it, because a good paint job is the most cost effective and immediate way to increase to looks and value of a distressed home or commercial property.
http://independencerealty.org/houston_real_estate.html |
Article Details
