Get In On The Fixer Upper Market

In order to be successful in the “Fix and Flip” market, “You must be somewhat of an appraiser and a deal finder. ” is the advice given by Dan Aulito, the author of “Complete Home Rehab in 10 Days.”

When looking for a property to flip, friends and family are good resources. After you start securing properties, network and talk with tradesman. Get their contact info so you can contact them if you need their help in the transformation. It is also good to talk to them before you purchase a property so that they can help you avoid potential money pits. Have them inspect the electrical, plumbing, and heating/cooling systems in the house. “These systems are expensive to correct in relation to the value they return to you upon resale.” Aulito says. Other areas to pay attention to are roofing, foundation, and structural integrity. Always look at foreclosures closely so that you can avoid these problems. Try to find foreclosures with simple cosmetic problems because most of these can be repaired yourself.

Once you purchase your property, order a dumpster for the next ten days, and get your demolition man to through everything out, including the kitchen sink. After the house is cleared, the first order of business is to patch and paint. If you have your painters, have them blast the home with their airless spray paint using Sherwin Williams Super Paint. This alone will add a major improvement to your investment.

After everything has been painted, have the flooring guys lay the tile and carpet, and then bring in the cabinet installers and handyman plumber. Last comes the light fixtures, toilets, sinks, doors ,switch plates, and outlet covers.  

This should take just 10 days, and now the house is ready to be rented, lease-optioned or sold for more than you pain and invested into it.