Buying a "fixer-upper" can be a great way to earn sweat equity, but it also can turn into nightmare, end up costing you later on.
What are the rules to follow to find the right property to fix up or flip? Buy a house at least 30% below market value, so that you have profit left over after spending the money to fix it. Location is still very important- no matter how you fix up the interior, you still can't change the location. Go for the more popular 3-4 bedroom home, more buyers are looking for this size. Take your time to find the right property to flip and call me when you're ready to start looking for one!
A recent Realtor Magazine article helps sort out the rules of Fixer-upper.
Mohamed Mekhimar , Realtor®, Accredited Buyers Representative , RE/MAX Commonwealth, mekhimar@remax.net, (804) 243-0605 Cell, (804) 288-5000 Office, (804) 288-8989 Fax, http://www.richmondvahomes4sale.com/, Licensed in the Commonwealth of Virginia
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