How To Buy A Fixer Upper House The RIGHT Way (Buying A Fixer Upper)
In this video I break down how to buy fixer upper homes the right way. Unfortunately many people don’t understand what they’re getting themselves into when they buy fixer upper homes and they easily can get burned by a contractor or even buy the wrong house that will cost them a lot of money.
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If you want to know how to buy a fixer upper the right way, then you really want to buy a property below market value, hire a good contractor, and renovate the right way. There’s multiple ways in real estate investing to find good deals below market value. The best is off market either directly dealing with a seller or using a wholesaler. Another alternative is the MLS but it is hyper competitive at the moment considering how hot the housing market is.
When buying an investment property, going with a fixer upper is really the best way to force appreciation in your house and add additional equity. So next time you try to fix up a house, remember it’s important to buy the right house, hire the right contractor, and renovate the right way. I hope you enjoyed this video on how to buy a fixer upper and renovate the right way.
#FixerUpper #RealEstateInvesting #RealEstate
You literally Said nothing
You are a Godsend!! Thank you sir
I need help I wanna buy a fixer upper but for my first property I bought a house the fixer upper is 4plex they want 270,000 would I be able to get a second mortgage & money to fix it or would I need to tap into my HELOC
Can you not simply ask the seller if they would do a seller financing deal?
As a contractor ..YES both licensed and insured.. this video is beyond incorrect. For starters 7 estimates? You’re going to be lucky if you can get 3 to even show up to get an estimate done. Estimates can be a HUGE time consuming deals… and people like this are ‘time wasters’ to contractors. Let me just tell you that a good contractor will do the following: 1. Shows up and will be honest with you as far as an estimate and I start with estimates are best case I don’t know what I don’t know, such as hidden damage. These cost extra. A good contractor will show you and explain the change in price. 2. A good contractor will in fact give you a breakdown of materials and labor in his/her estimate. They will also explain that if you decide to procure your own materials there will be no warranty on behalf of the contractor. I will in fact NOT install 1.99 SqF laminate flooring because it isn’t going to last, it’s going to break and it’s trash. We call it the landlord special… it’s garbage. 3. Understand that we do this for a living and we’ve done this a long time.. YES get references.. it’s okay to do that. BUT do NOT be fooled by ‘insured’.. I can get insurance and it covers NOTHING…. but I’m insured. IE Window cleaners are insured but if they break the window… that’s NOT covered… I could have this conversation all day but the point being this video is NOT accurate and is full of bad advice. This person is a probably a nice guy but I would walk away from a customer like this because they are in the way of your job constantly. Watching YouTube videos doesn’t make you an expert. Get references… use word of mouth… ask your friends… talk to the contractor… NOT at them. If a contractor says “No” to certain materials ask why… they know more about materials and processes more than you do…. SO in closing again…this video will cause you to lose good contractors faster then you think…. I’m busy I don’t need the work before I even talk to you… keep that in mind. I’m busy for a reason…. reputation…