Fixer Uppers - Five Steps and Two Principles
Ready to invest in fixer uppers? Carefully consider the five-step plan and two principles laid out here.
Most new investors in fixer uppers have the basic idea that you buy a house in need of some repairs and cleaning, you fix it up and sell it for a profit. That’s a good start, but how do you know if there will be a profit, and what changes to make? Many investors have lost money on their renovation projects, after all.
You have to have a clear idea of the profit potential before you make an offer on a house. How do you do this? Try the following five steps.