You may have seen this on television, making it appear simple, quick, and profitable. However, a Fixer Upper type of real estate strategy is not something just anyone can do … nor is it a project for the weak of heart. It is our recommendation that you have some sort of experience in active real estate before attempting such projects. Other names you may have heard … Rehab, Reno, Buy-Fix-Sell … they are pretty much the same thing – you purchase a property, fix it up, and then sell it for profit.
Why is this type of investing not suitable for all kinds of investors? First of all, if you do choose to work on this type of project, be prepared to put in your time, your money, your patience, and have an exit strategy in case the property cannot sell at your projected price and/or time frame. Budgeting the time and amount of investment you put into fixer upper properties is crucial to the success of this business. Hence, we highly suggest you get some prior experience with real estate before getting into such renos. Nevertheless, should you encounter bumps along the way, no matter how big or small, you can count on CE Properties to be there!
If you are interested in learning more about this type of real estate investing, feel free to contact us and we can provide a one-on-one consultation with you to go through each step of doing your very own fixer upper project and making it a successful investment!