We are all watching HGTV. They make it look easy to take an old, run down house and turn it in to a shiny, new, renovated home most any buyer would love to purchase at a premium price.
This year, we’ve helped buy and sell several “fixer-uppers”. Here’s what we’ve found:
- it’s not as easy as it looks. There are more buyers (including investors) than sellers in todays market. You have to be creative in finding homes that are distressed and in need of repair. You must be diligent in searching the MLS listings, create relationships with REO agents, and possibly spend time on the court-house steps in order to find the right property. You will see many houses that are overpriced and will not make a profit for you in in the long run.
