Investing in Fixer-Upper Homes: Sometimes You Win, Sometimes You Win
There's also a larger potential market of home buyers looking for homes in lower price ranges. Most handyman specials fall into this lower price range. But not many home buyers are interested in doing the repairs themselves. If you can buy a fixer upper at a low price and give it a little TLC (tender loving care), you'll have people lining up to buy when you put it back on the market. Rehabbing - the process of buy, repair, resell - is one of the best ways to start making money quickly.
Accelerate Your Wealth Building
When you buy properties that need fixing up, you can instantly increase your equity just by doing some home repair. This newly created equity in the home can be used to finance your next purchase. As you keep duplicating the process, your wealth building begins to accelerate, and you can build a large property portfolio in a surprisingly short time.
Profit Instantly in Any Market
You can always profit over time by investing in real estate. When market conditions are less favorable, it might take several years to see significant capital gains. However, when you buy and fix-up properties for resale, you can profit instantly regardless of the market. Your repairs add instant value, easily 10 to 30 percent. And if you hold the properties in a growth area, you stand to make even more.
Find a Six-Figure Income
Flipping (buying, fixing up and selling) properties is an activity that truly has the potential to yield a six-figure income. Once you have several properties in your portfolio, it's not very difficult to make more than $100,000 in a year, even when you take selling costs, legal costs and closing costs into account.
Fire Your Boss
With this kind of income potential, you may reach a point where you can move into full-time real estate investing. Even if you don't have money to start out with, you can start with your own home. The increased equity you gain after a quick makeover could finance your first investment. With some desire and motivated action, you could quickly reach your goal of being a full-time investor.
Earn Now or Earn Later
You have a choice to buy, fix up and sell for profit now, or buy, fix up and hold for profit later. And while you're holding the property, you can rent it out for regular income. This allows you to meet current financial needs and prepare for your retirement.
Control Your Risk
When you build your property portfolio using these methods, you stay involved with your investment. Many other investments are handled by strangers who aren't really at risk. There's also no need to worry about market forces. You can see returns from the beginning regardless of market conditions.
Fixer-upper homes have a lower purchase price because most potential buyers don't want to face renovation as soon as they move in. When you buy a fixer-upper and do some improvements, you quickly increase the home's value and make it more attractive to a larger segment of the home-buying market. Buy transforming a handyman special into a beautiful, "new" home, you've almost guaranteed a handsome profit for yourself.
Related Tags: fixer-uppers, flipping, buying properties, handyman specials
Sal Vannutini is a successful real estate investor and author of the best selling "Fixer-Upper Fortunes". Free e-book and 6 Part mini-course reveals how to make a fortune in real estate. Visit: http://www.fastfixerupperprofits.com
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- 5 Reasons to Buy Jasper Real Estate
Jasper is a small town in North Georgia and it is growing rapidly. Since North Georgia Foreclosures - Ellijay Real Estate
Ellijay Georgia has always been known for it's outdoor activities and seasonal festivals. Downtown E - How to Deal With Blocked Drains
A blocked drain is an occurrence that happens eventually to all households. You may have experienced - The Benefits of Hiring a Plumbing Consultant
Your dream home may not always be brand new, with fresh paint and home essentials. There are certain - The Worst Mistake You Can Make When You Apply to Rent a Home
A whole new class of people has become renters and potential renters in America during the last thre - State of Individual Real Estate Markets
Everybody is well aware of the hit that the real estate market has taken over the past three years. - Thoughts on Avoiding the Landlord Trap
I've heard several people say they would never invest in a multifamily rental property because they - An Idea to Increase the Bottom Line of Your Investment Property
Are you pretty sure that you've already maximized the income coming from your property? If you've cl - Finding the Value of a Piece of Investment Real Estate
There is a lot of confusion about how much investment property is really worth. We'll look at three - Arkansas Land For Sale - Search Engine Optimization and Your Website
If you have Arkansas land for sale and are interested in advertising it on your website I have a few
Most viewed articles in this category:
- How High Did Home Prices Really Go
The U.S. Census Bureau released data on Tuesday that revealed where the nation's hottest markets wer - New Homeowners Tips for Household Safety
With so many items on their ¡°buying a home¡± checklist, few homeowners take into considerati - Truth About VA Foreclosures
Many people now days are finding themselves out of work and not being able to make the mortgage paym - Avoid Rookie Real Estate Investing Mistakes
When Robert Kiyosaki, author of the Rich Dad book series, bought his first property he was, of cours - Finding The Perfect Roommate On Craigslist
Craigslist, Roommates, and The Concerns Craigslist is "great" when it comes to looking for housing - The Forgotten Secret To Selling Property - Simple, Quick And Cheap
Why spend big dollars trying to get people to drive a long way to see your house, when your best pro - Get Amazing Results Selling Real Estate Online
This is the age of the internet. Why not take advantage of the widespread use of the internet to ad - Dallas Real Estate Information
In the United States, Dallas is considered as the second leading state according to the area. If any - The Largest Private Equity Indian Real Estate Deal
In the largest private equity deal won by the real estate sector, Morgan Stanley Real Estate has inv - Fractional Real Estate Ownership
Fractional ownership of vacation ski condos is growing in popularity. Park City Utah a popular ski t