TIPS WILL BE GREAT ON WHAT TO DO AND WHAT NOT TO DO
2006-10-02 11:50:24 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
First off don't watch the tv show Flip This House. Get in contact with you local Better Business Comission and look up a good house inspector. They will be able to tell ou were in your house you have major repairs to be fixed. When you renovate your house you have to bring all areas under construction up to code. Another good idea is to look up a good general contractor and ask them for proof of insurance and lincense before you even let them into your house.
2006-10-02 15:50:00 · answer #1 · answered by sctjjeeper 2 · 0⤊ 0⤋
Watching "flip that house" on TLC can help you out with ideas, but they always make things look easy on tv.
Find out what renovations add more value to a home than the cost required. You'd also need to find a pretty run down house and buy it at a great discount to make any sort of profit.
2006-10-02 18:55:03 · answer #2 · answered by alpha10unc 1 · 0⤊ 0⤋
By knowing exactly what needs to be done, and how to do it properly yourself.
Know your market, inside and out. Know property values intimately. Know the costs of repairs and modifications and how to spot a bargain with profit potential.
Have a good working relationship with competent local tradesmen who will be willing to step in quickly when needed.
Know the building codes inside and out -- if you screw up there you'll have to tear it all out and do it over.
The point is that every flip is totally unique. Watch "Flip That House" on TV as someone else suggested to get a feel for the uniqueness and diversity of every flip. One thing you're likely to take away from watching the show is that the most successful flippers are those who were already periphially involved in real estate to begin with -- mortgage brokers, real estate agents, tradesmen, contractors, etc. -- or had taken several baths financially while they learned how to do it intelligently.
2006-10-02 19:11:09 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
it depends where you live. If you are in CA then do the kit guest bath living room and master very well if you are in the mid west just update and paint you will not get much out of it. any where if it is ready to move into condition it will sell. also if all fixtures are new and updated this will help.
2006-10-02 18:56:00 · answer #4 · answered by same boat 1 · 0⤊ 0⤋