Post about "bungalow"

Fix and Flips: Top 10 Best Buys

We’ve all see the programs on T.V. about fix and flips. But what makes for a GOOD property to buy for this type of investing? The following is a great guideline to use when searching for a property for flipping.10. Homes with naturally private yards will continue to hold or increase their value.9. Good house bad yard: given a good location – yardscaping mixed with sweat equity is an easy summer flip.8. Location, location, location: no fix and flip for ANY locationally challenged properties. Buyer will automatically see through the flip and feel that they are paying a premium for it.*Note: buying a flip property close to home – that way you will spend more time working on it than travelling to it.7. Walkable neighborhoods: walking distance to all amenities… especially Starbucks!!6. Homes with basements suites or potential for one: buyers see this as additional value and you can sell to end users and or investors, there by increasing your buying populous.5. Bungalows bungalows bungalows: increasing number of baby boomers BUT you must flip them into a sellable price range – boomers are not interested in high fashion renovations and the high price tag associated with that flip.4. Awkward floor plans: look for these homes with awkward floor plans that have been on the market for a while. Floor plans that could be easily changed with a beam, wall knockdown or repositioned plumbing etc. can give you a lot more ROI when the end result is a better functioning home. You will get these properties for a good price relative the cost of the change in floor plan.3. Ethnically ‘flavored’ homes: rice, cabbage, fish, and deep fried flavored homes can easily be unflavored in a flip and offer a whole new ‘flavor’ and value. Stay away from smoke, mold and cat pee which are costly smells to eliminate.2. New homes with unfinished basements, deck, landscaping and fences. The reasoning behind this thought: when you completely finish a brand new home in a brand new area – you will have very few comparables to compete with. As most new home owners take a while before they get all that done. No brainer flip.1. 45-50 plus bungalow style condos: our 50 plus demographic is younger, hipper more fashion forward than the floral, pastel infused condos that are presently being offered. This demographic is not interested in renovating either – so to offer a fully renovated product is perfect for them. This is my number one choice for this year and for a few years yet to come. There are A LOT of buyers for this market. So let’s put the kybosh to golden girls d├ęcor and give our 50 plus buyers something to BUY for… and there are LOTS of product to choose from!All of the above are good to keep in mind combined with keeping your costs in budget; you can flip in any market.Happy Flipping! Coming soon Top 10 Fix & Flops.What to avoid when flipping: renovation faux pas.