A real estate deal can get up and fall for a renovation. So how do you choose? Part 2 from 2. ...

Original publication date on the United States Real Estate Forum on Facebook:
2019-02-09T00:08:36+0000

A real estate transaction can rise and fall on a renovation. So how do I choose?
Part 2 from 2.

Do you need to renovate from the ground up,
Electrical panel, air conditioners, kitchen, appliances, etc ...
Or go for a cosmetic renovation, which includes painting, carpet replacement…
Just bring the house into a living position?

In most cases, the decision will be based on whether it is
In an exit transaction (Buy, Fix & Sell… at the professional steering wheel - FLIP)
Or a rental deal (Buy, Fix & Hold).

In the second part we talk about the Flip deal:
Looking to buy, renovate and sell to end customer. (In most cases)
1. In the Flip deal we will look for a way of renovating that will allow us to:
Sell ​​faster and at the best price.

2. We want the end-user to come in and feel WOW.
Usually when a family comes to buy, then you want them to
Such a WOW effect is great that they are sometimes willing to pay above a market price.

3. Important parts for the end customer:
Roof, air conditioning, floor, plumbing, electric panel.

4. At Flip it is important to be prepared for the surprises of the renovation.
So you should always take into account 8-10% of the renovation budget for exceptions.
There can be cases when we need to get a permit from the municipality and then 2 things
Kure: It's also something that can take time and it's changes that need to be made
And we did not plan at first.

5. In Flip it is important that whoever manages it knows exactly what he wants,
Where he takes the ship, how long and at what budget.

Jonathan told at the end about 2 Flip deals for example he experienced:
A better deal and a less successful deal.

Hope you got something from the video 🙂
Thank you for your time,
Albert and Jonathan choose real estate.

Link to the original post on the United States Real Estate Forum on Facebook - Works on a desktop computer:
http://bit.ly/2GiTNwz

The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion