How much work goes into selling a fixer-upper at a profit?
Fixing up a property isn't just about going in and painting the walls white, and having somebody come in and put in new carpet. If you want to make money in flipping a property, you're going to have to go a little bit deeper than that. I talk about doing actually six levels of improvement when you flip a property. That's, of course, getting all the systems, which is the plumbing, the electrical, the piping, the roof, and even the windows; they all need to be upgraded. Remember, you're going to be selling a home to somebody that is a done or completed house. All the systems need to be working as well. Chances are you're probably going to have to upgrade the kitchen. There's lots of way you can do that. You can usually work with what you've got, or you can completely renovate a kitchen and the bathroom. There are certain areas that people expect, when you're fixing up and flipping a property, that are done and completely redone. Kitchens and baths are another. Landscaping, curb appeal, backyards, and all those things are things that you're going to have to do. Yeah, there is some work involved but the profit potential is enormous when you know what you're doing.
