subject: The shocking Truth About Rehabbing Houses [print this page] Those who know rehabbing houses only by watching television shows of flipping homes are in for a shocker once they find out how fix and flip experts do it in real life. As you may know, transforming an ugly house to a work of art is not as easy as these TV programs portray it to be. In addition, an aspiring rehabber needs more than a basic knowledge on home improvement and a pretty on-cam smile to give a dilapidated handyman special a good makeover.
There is more to doing a fix and flip project aside from the doing the repairs and enjoying the hum and whir of the power tools in your hands. When overseeing a home rehab, it is important to find the right property to fix. It is because even if you have done a fantastic rehab on a property, you wont be able to find a buyer for the house that easily if the house itself is sitting right next to a chemical factory, or worse, a landfill. So before you start envisioning gutting down walls and replacing the roof, you have to find the perfect investment property to rehab first.
When rehabbing houses, expect to spend a long period of time searching for a good handyman special. There are many factors that you should need to consider when buying a fixer upper home and one of them is location. Always remember the golden word of real estate investing: location. The location of a property is very important because it can drive up (or drive down) the price, as well as the profitability and marketability of the house you want to fix and flip. Therefore, when doing a home rehab, see to it that house is located in a place where your intended buyer would be happy to live in.
It is also important to take note of the condition of the properties surrounding the house you want to rehab when buying a handyman special. It is because there are instances that some buyers will refuse to buy a rehabbed home, no matter how beautiful it is, if the property is surrounded by foreclosed houses. Therefore, you should always check out the neighborhood where the property is located and ensure that it will fit the taste of your target customers.
