I asked SoCal Real Estate Group members for their opinion of the top 6 ways to add value to their fix and flip properties. The group is made up of local Southern California real estate investors that primarily focus on purchasing and repairing properties that have been neglected. Here is what they came up with:
Curb appeal sells houses, and great curb appeal sells houses fast. Before you list your fix and flip property, make sure you are getting the maximum return on your investment by paying attention to the exterior of the home. If you need some guidance on the best way to spend your money and still get the features your buyers want, check out this list of the top 3 front yard features Californians are looking for.
If you are interested in purchasing a fixer-upper property, you are probably excited and raring to go. However, you'll need to carefully inspect the home for potential problems so that you know what you are getting yourself into. A lot of issues aren't a big deal -- for example, many cosmetic issues can be fixed relatively easily and affordably -- but these are three inspection items you must not overlook when evaluating a fixer-upper. They're more serious problems that can be quite costly to repair, so you'll need to take that into consideration when determining whether or not to purchase a property.
If you want to see what's hot on the market, it pays to look at what's happening on college campuses. Only last week, the results of the U.S. Department of Energy Solar Decathlon were published. The contest centered on sustainable home building, and one of the competitors was based right here in Southern California. Team Orange County focused their project on the specific challenges in the Southern California real estate market, and their design points out several home features that California investors love.
You can make money by investing in a fixer-upper and fixing it up in any state in the country. However, some states offer better opportunities for investors than others. For example, once you learn why California is a great opportunity for fix and flippers, you might be interested in investing in property in this great state.
California is a great environment for real estate rehabbers. Few statistics are available, but real estate specialists have made billions of dollars by buying homes in need of repair, sprucing them up, and reselling them.
Flipping a home is tough work. Aside from the research, the investment, and the construction, you still have to attract the right buyers at the right time! In an ideal world, a flipped home would sell itself and give you time to sit back and relax. Unfortunately, the real estate market isn't ideal, and you're going to have to take on a couple more tasks to stay ahead of the competition. The question that's on every investor's mind is: just how do you make your flip more appealing in today’s competitive marketplace?
Whether you are a real estate investor who prefers to fix and flip houses, or a landlord who prefers to use rental properties for long-term passive income, working with contractors is simply a part of doing business. In the real estate investment world, however, horror stories abound about contractors who have turned potentially lucrative property deals into complete disasters. As a real estate investor, it is important to know how to avoid these situations altogether. Here are 4 ways to avoid having contractor horror stories of your own.
Real estate investors are asking themselves, "What does the 2016 California housing market look like?" The informed and educated investor knows there are opportunities no matter the market conditions. Armed with the correct knowledge, one can develop a successful strategy.
The practice of flipping homes is gaining steam across the state of California and the United States. Prior to flipping your first, or your next project, there are a few things to consider. That’s why we have come up with seven reasons to use a small local contractor.