Real Estate Editorial

I was flipping (No pun intended) through a book I own called Flipping Properties – Generate Instant Cash Profits in Real Estate. I’m not a house flipping guy but I do enjoy reading books on real estate and seeing what peoples perspectives on the business are. This book is a fairly easy read and has quite a bit of information on how to flip those houses.

Here are some points I thought were really good, basically the book assumes you are not a handy-man but can paint a wall, hang a medicine cabinet and do some general repair work. I’ve just summarized from the book what you should upgrade and repair in certain areas of the home.

The Kitchen: This is usually the most important room in the house and is probably the room that homeowners spend the most time in. When rehabbing property replace any appliances that look dated and are not white, black, ivory, or stainless steel. Appliances create a first impression for homebuyers, everyone who looks at a house remembers what the appliances looked like. Replace all light fixtures and faucets that are dated, these kind of changes won’t cost all that much but will make a huge difference in re-sale value. If the cabinets are still in good shape but are dated, paint them white, a coat of paint on cabinets can do wonders.

The Bathrooms: Bathrooms should be bright and clean, make sure your bathroom is both when going to re-sell the house. Most people won’t even consider a house if the bathroom is filthy. If the tub is in bad shape you can get it refinished instead of replacing it, this will save a lot of money and the tub will look brand new. Other simple and cheap fixes include a coat of paint, replacing the vanity, replace the toilet seat, and hang a new shower curtain.

Living Space: Aside from painting, in living spaces you can replace doors, door handles, light fixtures, and electrical faceplates. If you want to add some flare to the living room or master bedroom consider a ceiling fan.

Flooring: This is going to be a large expense while renovating, but will substantially increase the value of the property. If the home has original hardwood floors under that drab carpet, your best bet is to restore the floors, there is no better selling feature for a home than having real hardwood floors. Consider Vinyl or Tile for bathrooms and kitchens, it’s durable and looks great. Bedrooms can be carpeted, try checking out bargain carpet places to find good deals on great carpet.

Mechanical Systems: It is very important to make sure those furnaces, heating systems, and water tanks are all in great shape and proper working order. It’s wise to get professionals in to inspect them prior to re-selling the house. You never know these types of problems could come back to haunt you even after you have sold the house.

Safety Systems: Last but not least, make sure all security systems in the house are in proper working order. The smoke detectors should have new batteries and the hard-wired detectors should be in good working order. All deadbolts and door locks should work and lock securely.

I’ve found a portion of this book online, it gives you an idea of what these guys are talking about. Hopefully you will find it as informative as I have. Flipping Properties – Generate Instant Cash Profits in Real Estate.