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How_To_Profit_In_Real_Estate_Investing_With_Fixer-Uppers

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					Title:
How To Profit In Real Estate Investing With Fixer-Uppers

Word Count:
765

Summary:
To be sure, most homebuyers need a property that is a home and not
something to invest their hard-earned money in. Furthermore, when you are
looking for fixer-uppers with real estate investing in mind you will also
have to have contractors available who can make a home inhabitable with
just a little work. Once you are sure that you want a contractor to
repair and upgrade your home, you can then prospect for homes that are
available at bargain prices.


Keywords:
real estate investing, Distress Homes, fixer uppers, foreclosures, short
sales, real estate expert


Article Body:
There are many people who get into real estate investing and who, in the
process, just follow a simple formula which is using the well tried and
certainly most tested way of doing business in real estate and that is to
buy homes being put up for sale by owners who are in distress. In such
instances, they are able to snap up distress properties at rock bottom
prices and then they simply fix up the properties with a view to selling
them further at a higher price and in the process make a tidy sum of
money. As a matter of fact, it has been found that those who have used
such simple strategies over the long term have succeeded so much that
they have made enough money to turn into millionaires.

Different Reasons Why Distress Homes Are Put Up For Sale

The problem of course that one has to contend with at the very outset is
that of learning how to find fixer-uppers. In this regard it should be
mentioned that when a homeowner becomes distressed it may cause them to
cease to properly maintain their properties and often, they may even end
up falling behind in making the payments on their properties. What's
more, both buyers and sellers are known to have a number of different
reasons why they get into real estate investing in fixer-uppers though
common reasons include losing a job or going through a divorce and even
illnesses and alcohol abuse can cause a seller to become distressed.

Whatever the reason why a homeowner becomes distressed, there is no doubt
that the real loser in the equation is the property which will suffer
because it won't be properly maintained and payments on it too will start
to be skipped and thus it becomes an ideal candidate for being sold as
part of a fixer-upper strategy. And, among the most lucrative real estate
investing opportunities that you will come across when it concerns fixer
uppers are homes that are completely rundown, owned by a seller who is in
the process of divorcing their spouse and those who can't keep up with
their mortgage payments.
Still, homes that are very ugly and which need fixing are really quite
difficult to sell off because buyers for such homes are rather limited
and not easy to convince to buy such type of homes. Obviously, homeowners
prefer to put their real estate investing money in homes that don't need
much repair work because having to repair a home or upgrade it is not
something a prospective homeowner will want when purchasing a home.

To be sure, most homebuyers need a property that is a home and not
something to invest their hard-earned money in. Furthermore, when you are
looking for fixer-uppers with real estate investing in mind you will also
have to have contractors available who can make a home inhabitable with
just a little work. Once you are sure that you want a contractor to
repair and upgrade your home, you can then prospect for homes that are
available at bargain prices.

Typically, you should scout the advertisements that have terms such as
as-is or fixer-upper or even handyman's special or other similar terms
that show you that the home requires some repair. Even a local real
estate agent can point you in the right direction. If you stick in this
line long enough, people will then come to understand that you are in the
fixer-upper line of real estate investing and will then contact you with
suitable and tempting fixer-upper deals.

Having located a suitable property, you then need to be sure about what
the problem with the home is and then think of ways to solve such
problems. Often, the problem may have a lot to do with financial
constrains rather than requiring to physically repair the home and if
such is the case, you can then get an even lower sales price for the
property in question. However, be aware that fixer-uppers in real estate
investing is a line in which you must always tread with great care and
caution because even a small mistake can lead to disastrous consequences.

The bottom line is that you must first of all put together a good team
and to also do home buying in a very careful and conservative manner. In
addition, you should also be prepared to pay whatever it takes to repair
the home and once you understand and act properly on these parameters you
will find that fixer upper in real estate investing can fetch you plenty
of money.

				
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posted:3/25/2012
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