|
|
|
Consider Purchasing
a Fixer
|
Most people in the real estate business didn't start out buying and
selling properties that cost hundreds of thousands of dollars, making
a hefty profit for their pockets. True--some do, but not all. Many
good, successful people whether they are in the real estate business
or looking to purchase their first home for themselves, start out with
fixer upper properties. The term fixer upper can range from an older
house built in the 1900s to a duplex that was built twenty years ago
that has plumbing problems, little or no landscaping, or a bad roof.
While it is important to assess the number of repairs that are needed
in any home, it is even more important to do so when purchasing a foreclosed
home or a home from the city or any government organization. These
types of homes come with lovely little price tags attached to them that
can cause any person to turn their head to all of the potential problems
involved in fixing the place up.
In your real estate business endeavors, you may want to consider purchasing
a property that needs a little work. Fixer uppers can be purchased
at amazingly low selling prices, allowing you as the new owner to either
make your improvements and repairs with the intention of selling the
property for a profit or using the property for your own personal or
business use.
We have all seen the For Sale By Owner signs while driving down the
street. Most of the times when people sell houses or properties that
are in need of work, they do so because they either lack the time or
funding to get the work done themselves. Properties that need fixing
up can be cash buckets for the person with the right eye, proper skills,
and/or the proper monetary reserves to rise to the occasion.
While it can be a great idea for a lot of people, do not purchase a
property that needs work without thinking the situation through completely,
analyzing the pros and cons of the situation. It is important to determine
whether or not the property is even a good value; ask yourself if you
have the time and willingness to make the repairs yourself, or the money
to hire someone to make the repairs and improvements for you. If the
costs of the repairs outweigh the profit that could have been made were
you to turn around and sell the property for a higher price after the
improvements have been made, you are wasting your time and money. In
this situation, one could potentially end up getting stuck with land,
commercial property, or a home that is useless to them personally.
Keep in mind that not every one out there is willing to purchase a home
or property as you were when you purchased it. If, upon finalizing
the deal you discover that this is so monumental of a task that you
are not up to it, you cannot just give the property back, so it is important
to analyze and think through the situation as thoroughly as possible.
About The Author:
Peter Dobler is a veteran in the IT business. His passion for experimenting
with new internet marketing strategies leads him to explore new niche
markets.
Read more about his experience with real estate; visit
http://real-estate.online-business-idea.com
Other Real Estate Related Information
Buy Real Estate
With No Credit
The
painless way to secure your dream home or first investment property
guaranteed. Complete instructions with a 100% ironclad money
back guaranty.
Get more information
|
Do You Have
Bad Credit?
Don't give up!!
Our list of lenders and credit card
companies are willing to give you another shot. They realize
that good people can have bad credit.
Whether you have
had minor problems in the past or even bankruptcy, our lenders
are there to help you not only receive a loan, but also to re-establish
your credit.
Are you ready to
get your second chance?
Get more information
|
Mortgage Loan Tips
"Excellent
for first time buyers, move-up buyers or refinancing. I cannot
recommend it highly enough - this should be required reading
for anyone who wants to get a loan."
M. Klinger, Real Estate Broker
Aventura, FL
Get more information
|
Credit Repair
- Erase Bad Credit Now!
Are
you tired of Bad Credit? - High Interest Rates? Disapproved
Credit?
Use my experience today, and I will show you
how to get every negative item Removed from your Credit Reports
within 1-3 Months. Guaranteed!
Get more information
|
Credit Secrets
"How
to Clean Up your Credit Report and Wipe All Your Credit Card
Debts in Record Time!"
Take a moment to imagine this...
On any given day you could be receiving new pre-approved credit
card offers in the mail, you could able to purchase a new home
without worrying about qualifying for a mortgage, financing
for automobiles and boats could be readily available to you,
and...you could have piece of mind knowing that should an emergency
arrive you would have the resources to take care of you and
your family.
Get more information
|
|