By: Charles and Kim Petty..
Any investor will tell you the best way to invest in real estate is to
buy low and sell high. The key word is sell. You can buy any home on
the market but if you do not sell it at a profit there is no sense in
even trying. You are in business to make money. Real estate can make
someone quite a bit of money if they know what they are doing.
You must first research the property to determine if it is a good
investment. Once you decide it is worth the money step back and look at
if from a buyer's perspective. Start with the outside. Check the curb
appeal. If there is none, this is the first place to start when getting
a house ready for market.
The interior of the house may be the most immaculate one on the block.
Inside there could be all the amenities and perks a buyer could hope
for. It may be the model home for the perfect family. None of this
means a hill of beans if you can not get the buyer inside.
Drive past the house. What do you notice? Is it overgrown with trees
and shrubs? Do you have a clear view of the house? Does it look run
down or in need of repair? If you answered yes to any of these
questions, there is a problem. You will have to do something about it.
The smart realtor will tell you the first things a buyer will notice is
the outside, the kitchen, and how many bedrooms there are. In that
order. Take a look at the outside and decide what you can do to make
the house more attractive to the buyer. If you have to tear out shrubs,
then do so. You may have to fix broken concrete. The driveway may need
repaved. This is where you need to spend most of your money. Everything
inside is just cosmetics the new owner will most likely change anyways.
Let us assume you have purchased a home to fix and resell. The home has
four bedrooms, 2 bathrooms, and is 2,800 square feet. This would make
it the perfect family home. The buyer you want to attract is going to
drive by and see what the exterior looks like before calling. When that
buyer drives by and sees a broken trampoline in the front yard with
dead tree branches overhanging the front porch they will keep right on
driving.
The buyer is looking for the perfect family home. A neat, clean yard is
the first thing they will want. The second is a nice kitchen. Sell the
kitchen and you sell the house. This can be done with a simple paint
job and some new cabinet doors. You do not have to spend a fortune
remodeling the kitchen. Add new hardware to the existing cabinets.
Paint it a white or off-white color. Make it clean. Women hate dirty
kitchens and will walk right out the front door when presented with
one. You can save many headaches by just cleaning and painting.
When you paint, always make the colors neutral. This allows the rooms
to look neat and clean. The buyers can envision what the home will look
like with their furnishings. They will be able to see themselves in the
home as they want. Bright, bold colors can scare people away faster
than a rat in the cellar.
With these simple tips there is no doubt you can buy and sell with
confidence. You will see the hard work pay off in the profits from the
home. You will not have to lose money by doing remodeling work that is
not necessary. The net profit will be higher.
Article Source: http://www.realestateinvestmentarticles.net