This is the second article in a blog series on fixer upper homes. You can read Part 1 here.

Fixer Upper Homes – Ways to Maximize Your Return on Investment

The people who generally make the most money are people who do the work themselves, or have their own team of contractors that do the work at very low rates. Here are a couple of things I generally tell my investor clients:

  • The under $400,000 or just over $400,000 price point (for single family homes or townhomes) is a very popular price point for first time home buyers, and they generally get very excited about upgrades. Single family homes are the most popular, then duplexes (duplexes usually don’t have HOA fees) and townhomes. A good return for a quick flip on properties at this price range is 10% of your purchase price.
  • It’s important that the upgrades needed are primarily cosmetic, but that the house has good bones and (at least for the most part) functioning systems. The systems don’t have to be NEW, but ideally they would be functioning well. If you’re paying for roof/HVAC/etc as well as all the cosmetic features, that can get expensive very quickly.

Read Part 3 of my blog series on investing in fixer upper homes in Northern Virginia

Email me at DarrenRobertsonHomes@gmail.com for a free list of foreclosures and short sales in the area of your choice!