Most women can’t quite understand why men have a thing for power tools. Even though the man of the house is not really that skilled at doing home improvement jobs, you can’t help but notice that there are lots of gadgets and home building tools in his shed. And despite his lack of extensive knowledge on fixing things up, he will try his best to repair the broken book shelf or make the dishwashing machine work.
This is one of the reasons why many male real estate investors prefer rehabbing fixer upper homes than doing a wholesale as they get to satisfy their obsession with power tools. By fixing and flipping properties, they will have the chance to use such gadgets and generate income at the same time.
Fixing and flipping properties is a fun and enjoyable way to make money in real estate. However, a real estate investor must be careful when choosing the property he is going to flip. He has to make sure that the fixer upper home can fetch a good price once it receives a nice makeover. Failure to do so may result in huge profit losses and other inconveniences to the rehabber.
When picking a property to fix and flip, you should take the location of the house into consideration. A rehabbed home with quick access to transportation, grocery stores, schools, hospitals, restaurants, and other recreational centers will get rave reviews from dozens of home buyers. Therefore, if you want to make the process of flipping properties easier for you, remember this golden phrase: “location, location, and location!”
So what happens next after you’ve spotted a nice fixer upper home with a nice location? The answer is to become James Bond for a day. Sorry but you’re not going to blow things up or hit on gorgeous ladies, which are some of the things that Agent 007 is famous for. What you are going to do is to investigate the history of the property and find out relevant information, such as comparable sales in the neighborhood where the house is located and if the property has a title or not. This will help prevent certain complications from arising in the future.
Once you have accomplished these tasks, you can now start the rehab work and enjoy using your power tools. Meanwhile, if you want more information on the process of flipping properties or are simply looking for profitable properties that you can rehab and sell, you can log on to www.RehabList.com.