Not signed in (Sign In)

Investing & Financing: Fixing it up - what brings the best ROI?

1 to 7 of 7

  1.  
    •  
      CommentAuthorEric
    • CommentTimeAug 3rd 2005 edited
     permalink

    Now that I'm going to be investing in fixer-upper homes, I'd like to start a thread about what some of the best upgrades are.

    So far after talking to some very experienced people in the business, this is what I've come up with:

    1. New carpet.
    2. Rip off the cheap, hollow doors and put in solid wood doors.
    3. Replace any patched drywall.
    4. Obviously repaint the inside.
    5. Put ceramic tile down in the kitchen and bathrooms.
    6. Replace ugly, cheap looking faucets.
    7. Focus on the Bathroom and Kitchen - this is where the Women spend most of their time and we all know they are the ones behind the sale (and the ones making the big decisions!)

    What have ya'll come up with? Karen? I know you have to say something here right? :wink:

    Proud founder of YGG
    •  
      CommentAuthorKaren
    • CommentTimeAug 3rd 2005 edited
     permalink

    Karen has something to say? What makes you think that?!

    Kitchen and bathrooms increase the value of the home the best.

    In my opinion, take out the carpets and put in hardwood (either real or floating floor). Paint in basic colors ... no bright fancy colors even if it is the 'in' thing right now. You would hate to lose a buyer because the wall is light blue but their furniture is green.

    Anything else ... cosmetic appeal helps for the sale.

    Remember that people buy on emotion .. so build an atmosphere where people feel at home.

    Karen

    "It's the repetition of affirmations that leads to belief. And once that belief becomes a deep conviction, things begin to happen."
    •  
      CommentAuthorryanj
    • CommentTimeAug 3rd 2005 edited
     permalink

    I saw a reality show on this about a guy who does it. He made $100k profit in 20 weeks and it was his first attempt at doing it.

    RyanGlasgow.net | Blogging Startups, News, Entrepreneurship, and Web Dev
    •  
      CommentAuthorEric
    • CommentTimeAug 3rd 2005 edited
     permalink

    Yeah there's serious money to be made.

    This one lady that comes in and spends a ton at the paintball place is into this type of thing. She bought a house recently for 60k, owned it for 2 months, did the improvements I listed above. She put $15k into it and sold the property for $150,000 - $75k profit in 2 months. Nice right?

    Proud founder of YGG
    •  
      CommentAuthorKaren
    • CommentTimeAug 3rd 2005 edited
     permalink

    Find the right deal (forclosures, owners that live out of town, run down rentals etc) and you can make piles almost overnight.

    Eric, I suspect that the market in your area is about the same as it is here?

    Karen

    "It's the repetition of affirmations that leads to belief. And once that belief becomes a deep conviction, things begin to happen."
    •  
      CommentAuthorEric
    • CommentTimeAug 3rd 2005 edited
     permalink

    No, not even close. We only see 10-20% gains every year. This lady is just has a good batting average with this stuff.

    Proud founder of YGG
    •  
      CommentAuthor3-D WHEELS
    • CommentTimeAug 15th 2005 edited
     permalink

    If your gonna sell family homes, I think your going in the right direction. Focus on where the woman will be.
    I've have been home shopping for three months now and finally bought one. What sold me was the master bath, and the master closet. Put that with a nice kitchen, and you'll make tons...

1 to 7 of 7

  1.  

Freelance Switch
Add your comments
    Username Password
  • Format comments as
 
Back to Discussions