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Buying Fixer Upper Houses for Equity or Profit

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By : John Cutts    99 or more times read
Buying fixer upper houses used to be reserved for buyers with enough resources to renovate or real estate firms that purchase properties which they mean to redevelop and resell with a price mark-up. But the market for fixer uppers has grown to include just about anyone thinking of buying a new home or an additional property as well as real estate investors into home flipping.

People who love projects of any kind appreciate the real value of buying fixer upper houses. They are aware that with proper financial planning and preparation, they score huge profits from these types of foreclosures in the long run.

A fixer upper is more like a blank canvass that the artist can fill up with his style and inspiration. Buyers of fixer uppers have good artistic eye and can see beyond the run-down property into a dream house for their family. Transforming a fixer upper into a decent living space offers great rewards for the owner. The fact that they can later sell of the property at a much higher cost than they were bought for makes these homes all the more attractive.

Buying for Profit

If the primary goal is buying fixer upper houses for profit then buyers should consider location. The home should be in an economically thriving community with access to the best level of social and community services. This way the home will sell itself and will definitely generate a lot of interest in buyers.

While it may be true that fixer upper homes require a considerable amount of repair, buyers should learn to pick which types of needed repairs they are amenable to. A professional home inspector can warn you if a certain fixer upper is not worth the investment. Try to avoid structural damages that will be very costly. Structural damages may be in the form of busted pipes and electrical lines and extensive pest infestation.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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