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Beginners Real Estate Investing Guide
Real Estate Investing - Ask
Questions Before Making an Investment
First Time Real Estate
Investor
Real Estate Investing - Planning
Your Investment Strategy
How to Find Real Estate
Investment Properties
Getting a Professional Home
Inspection
Large Profits From Inexpensive
Real Estate Repairs
Real Estate Investing - Costs
and Fees
Real Estate Insurance
and Risk Management
Real Estate Investment Risk
Part 1
Real Estate Investment Risk
Part 2
Getting The Best Return For
Your Investment
Creative Financing
For Real Estate Investors
Real Estate Investment Tax
Considerations
Real Estate Rental Properties
- Great Investment or Nightmare
Real Estate Foreclosures - Great
Deal or Headache
Flipping Real Estate for Profits
Slow Return On Real Estate
Investments
Negotiating for the Best Possible Real Estate
Deals
Real Estate - A Time to Buy and a Time
to Sell
Creating Your Real Estate
Investment Strategy
Investing and Growing
Your Real Estate Portfolio
Commercial Real Estate
Investing
Real Estate Marketing
Understanding Real Estate Law
Do You Need An Real Estate Agent?
What The Real Estate Mortgage
Lender Sees
Do You Have A Career In Real
Estate?
Rural or Urban Real Estate
Investments?
Real Estate Investing on the
Internet
Real Estate Investing
- Property or Paper? |
Real Estate Investing - Large Profits from Inexpensive Repairs
Sometimes, people who invest in property feel like they are paying with more
than money - they are paying with their sweat and blood as well, in the form
of repairs. One of the most expensive things about owning property is making
repairs. This is a big problem when it comes to real estate investing.
Obviously, a real estate investor wants to get the most profit possible out
of a property, but that profit can quickly be eaten away with repairs. That
is why, there are many things to consider when purchasing a property.
First, a home inspection is vital, as well as a pest control inspection.
This gives you a laundry list of repairs that will need to be made, and you
may be able to get those repairs made, before closing, at the expense of
the seller. That is the first step, but even then, after the purchase, there
are things that you may need to do to make additional repairs, or to make
the property more valuable, and this can be costly.
You don't have to be an expert craftsman to make repairs, in many cases.
Some repairs are easily taken care of yourself, without a lot of skill in
carpentry, plumbing, or electrical work. Start on the outside, and work your
way in. This is how potential buyers will view the property - from the outside
to the inside.
Look at the neighborhood. Encourage neighbors to clean up their outside space.
Help them make repairs to the outside of their homes and their yards. This
increases the value of yours. Mow the lawn, plant flowers, mow the neighbors
lawns, offer to plant flowers. Do what you can to fix up the outside of the
property.
Now, get out the home inspection report, and determine what you can repair,
and what you must hire others to repair. Visit your library and get books
on home repair if you need to that cover the specific repairs that you need.
Just make sure that the work is professional - whether you do it yourself
or not.
Look for things that you can do to improve the condition of the house, without
spending a lot of money. For instance, steam cleaning carpet is cheaper than
replacing it. Repainting one wall is cheaper than repainting an entire room.
Make sure that all light switches and outlets have covers.
If the faucet drips, get a new one or replace the O rings inside of it. Do
everything that you can do to spruce the place up. Replace worn or broken
air vents. Replace filters. Clean appliances thoroughly.
On the exterior, make sure that walkways are edged and swept. Make sure outside
light fixtures are working and look nice. Repaint what needs repainting.
Put new screens on the window. Get some inexpensive lawn furniture for the
patio. Instead of replacing an entire window, replace the window pane.
Clean the windows, spray down the screens. Use a pressure sprayer mixed with
water and bleach to clean the outside of the house. Again, do what you can
to make the place look better, without spending a lot of money.
Finally, tackle those repairs that you cannot do yourself. Shop around for
contractors to find the cheapest bid, and check referrals. Small business
owners and handy-man type contractors will be cheaper than large firms that
have high overhead costs.
Try to see the property from a buyers perspective. Bring other people in
who have not seen the property, and ask them to view it like they are buying
it. See what they notice, and what they ask. Get their overall opinion of
the property.
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Beginners Real Estate Investing Articles
How to Advertise a Rental
Property
How to Build Equity
in any Real Estate Market
How to Find Motivated
Sellers
Developing a Profitable Real
Estate Investing Strategy
Bird Dogging: Getting Started in
Real Estate Investing
Buying Your First Home
Using Lease Options to Purchase Real
Estate
Real Estate Foreclosures
Increase Your Net Worth Through
Real Estate Investing
Interest Only Mortgages
Real Estate Investing
No Money Down Real Estate
Investing
The Power of the Lease Option
Real Estate Investing Tips
Real Estate Investments
Refinancing Your Mortgage
Loan
Paying Your Mortgage
Selling Your House without a
Realtor
"Subject To" Real Estate
Financing
Using Trusts as a Real Estate
Alternative
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