What is a "fixer-upper" property?

What is a "fixer-upper" property?

Michael Corbett (Real Estate Expert) gives expert video advice on: What is a "fixer-upper" property?; How much work goes into selling a fixer-upper at a profit?; What are some common mistakes people make when buying fixer-uppers to develop? and more...

The term fixer-upper actually means property that you can go and buy, and then actually make renovations to the property and do the necessary improvements to put value into it, and then go ahead and either live or sell the property. Its different than something that's a tear down property that someone would just come in and bulldoze. Its one that has a lot of potential for upgrade or that you going to actually do to work or hire someone to do the work and fix it up.