Tips on Finding a Fixer Upper

howtofindtheperfectflip

Looking for that perfect investment property to flip? These tips can help you determine if you have found the right one.

Is the home in a good neighborhood? 

Location cannot be changed so this will affect pricing when it comes time to sell. If you decide to compromise on location, make sure to calculate those factors in when figuring resale value.

Does it lack curb appeal? 

Curb appeal is something that’s easy to add and can have a big impact with a smaller price tag! Consider painting the front door, adding new hardware, changing exterior light fixtures, and updating the address numbers. Trim over grown bushes, trees, pull weeds, and add fresh mulch & some potted plants if the weather permits!

Is the kitchen outdated?

A newly renovated kitchen to a buyer can mean the highest returns on investment for the fixer upper!

Are bathrooms outdated?

Is there only 1 bathroom? If you find a house with the potential to add another bathroom & renovate what’s existing then that’s a great find!

Is there space that can be finished to add square footage? 

Finishing rooms & spaces being unused can increase living space & maximize a home’s potential. To really wow buyers, add something unique in the space like a wet bar or media center!

Is the structure of the home sound?

Straight walls and floors are a sign of GOOD BONES. If there is something odd or significant you notice right away, then odds are buyers will notice too when it comes time to sell!

Is the house dark?

Lighter paint, new curtains, & other cosmetic additions can easily lighten up a space!

Does it have a certain smell?

Carpet that has been in a home for many years can trap smells, especially if previous owners had pets or smoked in the home! This can easily be remedied by replacing carpet with hardwood floors or something similar. For the walls & ceilings, Kilz paint can help take away any smells!

If you’ve been considering purchasing a property to flip, please reach out to our team of experts. We can help you find the right property to add to your portfolio!

The Tina Team, 913.708.8074 – Call us today!

 

***This list was written by Amber Miller of Threshold Homes. She is also a Realtor in Minneapolis. Follow her renovation projects on Instagram at @thresholdhomesmn. For more information on Amber visit her site here.

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Ranked in the Top 25!

We wanted to give a HUGE thanks to our clients, referral partners, friends AND family for making this possible! This year we were ranked in the TOP 25 Best Real Estate Agents in the Kansas City Metro by the Kansas Business Journal!

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It is a HUGE honor! We are so happy we get to do what we love every day by helping families buy and sell real estate!

 

Market Shift & Interest Rates

The KC Metro market has shifted from a seller’s market to a more balanced market but inventory is still low. Now is still a great time to put your home on the market. If you’ve been considering this, feel free to give us a call at 913.708.8074 to see what your home is worth in today’s market and to hear our customized marketing plan for selling your home in the shortest amount of time for the most money.

Last year our listings had an average 19 days on market and sold at 99.5% list price to sale ratio.

our listings have sold for 99.8% of list price!

 

If you are a buyer and haven’t found anything yet you are in luck! With the holidays behind us & the Chiefs season unfortunately coming to an end, we anticipate more homes coming on the market over the next few weeks.

With that being said, the interest rate is still low which means it’s also a great time to buy. Many lenders are offering 4.5% for a conventional home loan.

For a payment example, a $200,000 home with 3% down of $6,000, has an estimated payment with taxes & insurance of around $1,375 (at 4.5%). For a list of active homes in your area in this price range, email us at info@thetinateam.com!

If you’d like to see if you qualify for a loan, we can connect you with a lender to get the conversation started! Email us or call 913.708.8074! We look forward to hearing from you!