David G. Brown - HOW TO REDUCE YOUR RISK IN REAL ESTATE INVESTING

• Entry-door replacement (steel) recouped 91.3%. As I’ve stated before, if there’s major work to be done, do yourself a favor and hire a professional to do the work quickly and correctly. Professionals will cost money, but they’ll do the job right the first time and reduce the stress that comes with remodeling and selling. Also, before undergoing a kitchen and bath remodel, do enough research to learn which looks are popular now, then find a way to match those new looks if you’re working with an older home. This is where an interior designer is a godsend. A designer knows how to make upgrades look like a natural addition to your home rather than an afterthought.

DON'T FORGET SYSTEMS

Replacing your water heater isn’t as sexy as adding a master bathroom, but you’d be amazed how important new systems are to buyers. No buyer wants to buy a house and have the central air conditioning or septic system malfunction. If your HVAC, plumbing, electrical, or waste systems are nearing the end of their expected lives, replace them, then tout your brand-new furnace or instant hot plumbing.

EASY AND INEXPENSIVE WAYS TO STAGE A HOME

If money were no object, you could hire a staging company that would transform the look of your property into a palace. But as a flipper, you’re obviously trying to do everything you can to maximize your profits. The good news is that you don’t have to spend a fortune to make your property look ready for opening night. You will, however, need to be able to look at your property and objectively to spot the eyesores and problems a buyer will quickly notice.

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