Are they qualified? – Do they meet your criteria, are they in the right neighborhood, the right house in that neighborhood, do they want to sell their house or are they in some sort of distressed situation? These are all questions you should ask as part of qualifying your lead. If they are then move on to the next question

Are the cooperative? – This is especially important in short sales, but is still relevant to all other sales. If they are not cooperative, and not willing to work with you, then the sale will end up taking more time and effort than it’s worth. You would be better off passing on this sale and instead going for another lead. If however they are cooperative, then you are cleared to ask the next question.

Are they realistic? – This applies in many different ways. Are they realistic on the price of their home? Too many people are still living in the boom years and think there house is worth more than it truly is. Are they realistic about their situation? Many home owners facing a short sale feel they are entitled to cash at closing. They put a down payment of their own money down, they should get that back. Make sure the home owner is realistic. If they are, then go on to the next question.

Are they ready to go? – Are they read to really sell their house, move out, and get on with their life? If they are not ready to do that, then you will never be able to close the deal because they will ultimately be creating excuses on why it can’t close until they are ready. Unfortunately for you, when they are ready may not work on your time line. So ensure they are ready to go. I

If you have made it to this point and you can safely answer yes to the 4 questions above, then you know this is the type of seller you want to work with. So negotiate your heart out, and make that deal happen!

Tell us your horror stories of deals that didn’t happen because of one of these reasons!

Home renovation costs could be more than expected if the investor does not prioritize the areas of the house that need immediate repairs or remodeling. A wise real estate investor must consider what would give the property added value if home improvement is ultimately funded. It could be bathroom remodeling, kitchen renovation, foundation renovation, or enhancement of home interiors. One of these renovation jobs would be instrumental in appreciating the value of the house.

Poor planning is also a basic mistake in real estate investing. For an individual to have effective planning methods in real estate, he/she must do some self-study and a lot of research. It is only then that a better perspective of the business will arise. Out of many considerations, a well-informed investor can choose which option is most helpful to his/her chosen business. A well-thought of plan will hit the desired goal more often than just doing things through instinct. In the process, it has the advantage of saving on time, money, and effort. Just like remodeling contractors who have plans for every project, a real estate investor should also adapt the same effective business tool. There are also instances when an investor who does not have a clear cut plan on what property to purchase end up purchasing a property when emotionally involved with a deal. This is the third common mistake because emotions must not prevail in business.

On the other hand, not having enough cash reserve is also a possible fourth mistake, like having a stockpile of money for various expenses. The investor has to be ready for the mortgage, property taxes, and monthly maintenance. This is in addition to home remodeling ideas for the appreciation of the property’s value. Lastly, avoid the mistake of expecting the property to appreciate too much in the short term. Just like what previously stated, ups and down in real estate is part of the business.

Some of the best remodeling ideas for a basement stems out of the necessity of having an extra space for something important. The basement should not be left out in home remodeling especially if the redeveloper has a great concept in mind of how to convert it into something more useful and functional. Moreover, home renovation costs including basement remodeling would not be too costly because it already has the characteristics needed for certain space applications. For one, the basement is perfect for a home theater because of its advantages of limiting light and being ideal for enhancing sound.

There are people who could not stay away from home for so long because they have kids or have to care for some members of the family. In these circumstances, remodeling contractors can be tapped to transform basements into recreation room, a gym, an office space, or even another bedroom (Arcane has turned 1/2 basements into master suites on two renovations and both have been well received with buyers). If a basement has a huge space, a combination of different applications can be undertaken. Basement refinishing is almost half done by just simply having sufficient lighting and ventilation. The other half of the job can be done even with limited financial resources. Basement renovation and conversion adds value to a house which otherwise depreciates because of negligence.

What types of basement renovations are you performing on your redevelopments? What other awesome ideas for basement space can you come up with? Share with us below!

Home improvement has different categories. There are enhancements that only focus on changing furniture and other fixtures. There are also renovations that utilizes the same old furniture but zero in on improving the interior and exterior. This home remodeling process may include repainting, minor repairs, or reorientation of the bathroom, dining area, or the maid’s quarter. The scope of home rehab depends on the preference and the finances of the homeowner. A major bedroom renovation entails a huge amount of money only given to houses that have been idle or neglected for sometime. The common residential renovation usually involves minor repairs and changes in interior design and does not cost much. The homeowner just has to identify what areas of the bedroom need the immediate renovation.

Remodeling contractors offer an assortment of packages in rehabbing bedrooms. Some do not just give outright proposals but also provide a 3D modeling of the actual work if finished. They use technology in convincing customers on how they accomplish their projects. Remodeling ideas would come from the customers and they would use computer software to create a picture of the finished bedroom. Many of these contractors will do this for free, so don’t hesitate to call one of them if you are stuck and looking for some inspiration. In many cases it may be economical for you to hire the contractor as well.

What unique sizzle features are you brining into your bedroom? Let us know in the comments section below!
 

Improving the exterior of the house is the first step in increasing the market value of the property. Improving or integrating landscaping, modifying the door or windows, and re-painting with a mixture of colors which are simple and appealing are the main ingredients. White is a basic color that represents cleanliness and adding other primary colors like green, yellow, or orange will an exterior more attractive to potential buyers. Home interiors must have a shade of what is on the exterior to achieve harmony. It proves that home improvement is not all about putting the best fixtures or using expensive materials.

Home rehab is essential before a house can be resold. Aside from the lot and floor area, buyers will also look into the property’s location and the house finish. The house exterior can create a good first impression if it is painted using attractive colors. The way the house was painted will linger to the client’s consciousness when it is time to decide on the purchase. Color preference reveals information about one’s character and this preference is also being applied in house painting especially in home interiors. It is safe to use light color combination instead of imposing dark colors to have a greater chance of getting the nod of a prospective house buyer.

For so many instances, old folks tend to hold on to their good old homes rather than transfer to a new one. One reason is that for so many years, a certain abode may have been a witness of a great unfolding of wonderful experiences and memories created. Indeed, the sentimental value of an old dwelling surpasses the glamor of a new creation. To maintain the prestige and elegance of an old dwelling place, many families opt to do a grand home rehab no matter how challenging the home renovation costs would be.  Undeniably, doing a home rehab is one way to restructure and rebuild any patchy or disfigured parts of the house. A renovation may include certain basement refinishing, repainting cracked and sparse walls and adding adornments and embellishments to bare corners of one’s abode.

One great catastrophe in many old houses is a dripping or leaking roof. This is quickly solved by placing sealants or replacing roof tiles. Repainting an old house may add a staggering amount to the total home renovation costs. However, choosing on an extensive palette of colors is a great way to achieve a new look for one’s estate. For a bold and flashy approach, one could experiment on yellows, browns and oranges on some corners. Meanwhile, to help create a calm and tranquil ambience on certain nooks, one could go with blue, green and pastel shades. Colors play a great part on the elegance of a certain area.

Another thing to do when doing a home rehab is to replace old, damaged appliances with new ones that are definitely working. Although some appliances may have a satisfactory functioning level, some may be too old and could even cause an extra hitch on the electrical connections. Basement refinishing could also be done by utilizing creative, yet affordable materials. Furthermore, some furniture and appliances may also be too obsolete to be mixed and matched with a new theme or architecture that comes to mind. Certainly, for suitable and proper choices, individuals could ask for a designer or an architect’s point of view.

A home rehab creates wonders that are sometimes unbelievable. From plain and shabby, things could get vibrant and exciting when wonderful colors, style and elegance meet. It only takes a bold disposition and a decision to recreate and rediscover one’s own home.

Curb Appeal – A First Impression

This is no different when it comes to the curb appeal of a house, or in some cases, the lack of it. Just like a book, the exterior of the home is the first impression anyone receives, and it will have an effect on how the entire house will be viewed by a home shopper.

Fixer upper properties will move faster if a bit of care and concern are given to the exterior of the property.

If the person doesn’t like the exterior, they probably aren’t going to be too interested in seeing the inside, and even if they do go inside, that negative vibe will stay with them throughout the house.

A Home Improvement Assessment for a Renovation

Painting the exterior and cleaning the exterior veneer are two ways to enhance the curb appeal, but there is more that can be done. Landscaping has a lot to do with how well the exterior is perceived, especially in the spring and summer months (or year round if you live in a warmer climate like Los Angeles).

The home improvement assessment of any house you plan to fix and flip should include both the interior and exterior of the property, and this includes the landscaping.

Some good impression makers that attract people include:

1. Plenty of Color – Annual flowers are an attractive feature for the exterior of any home. Perennials also give a pleasant welcome, but they do not offer the same brilliance as the annuals. A couple of annual planting beds strategically placed will provide a warm home atmosphere.

2. Carefully Manicured Lawns – It is tempting to employ the cheapest lawn service you can find and pass up any extra expenses, but a lawn that has grass clippings piled on it and hasn’t been edged in a couple of months is a negative selling feature. If you have a continuing arrangement with a landscaping service, make sure it is clearly understood what you want and will accept.

3. Good Landscape Design – It never hurts to ask the advice of experts in the business as to what they think of the existing yard and what would make it more attractive. If you are interviewing people to do the upkeep, ask each for a personal opinion. You can improve the exterior in two or three areas developed for “show.”

4. Remove Unwanted Guests – If the grass and planting beds are filled with crab grass and weeds, you would be better off to have a professional spray to alleviate most of the problem before investing money and time in other parts of the landscaping.

5. Keep the Water Flowing – You may be limited by the site as to what you can do about some detractions, but if water stands in some areas, it needs to be channeled away even if it is necessary to install drains.

Many landscape ideas do not cost a great deal of money to incorporate, but they may be the very enhancements that make a house desirable to a buyer. Always use an experienced landscaper to do any major work required, and be sure to have a guarantee for the services performed.

Please feel free to tell us what you are doing to increase the cub appeal of your homes!  Post comments below or let us know using one of the many social networks we area involved with by using the share bar on the left or the icons on the right!

A home with an obvious foundation problem is not going to offer much in the way of marketplace potential. The failure of a building foundation can be a serious situation if something is not done to correct the problem promptly.

When a home foundation sinks in one area, it can affect windows, doors, and several other important elements of the property. In many cases, it is very obvious even to the untrained eye, and is certainly detrimental to the marketability of the residence.

Foundation problems can often be repaired, but a prospective buyer will see them as a huge red flag to avoid the situation altogether. That is why it is important to address the issue with all due haste as soon as it is recognized and before the property goes on the market.

Solutions for Foundation Repair

The last thing you want to do when attempting to fix a foundation problem is to address it incorrectly. A foundation might sink because of poor compaction beneath the footings, and an attempt to do anything above the problem soil will be nothing more than an unjustifiable expense. Some failures are caused by the concrete, possibly because it was poured unevenly or was inferior at the time of placement.

It is much better to have a professional contractor examine a foundation problem before investing money so you know exactly what needs to be done. It may be difficult to get an exact price for foundation repairs because the problems might not be clearly evident until work is begun, but you should be able to get a “not to exceed” cost for a set scope of work by a qualified home remodeling contractor.

Some settlement of a house is expected and a normal occurrence, but any time there is movement that can actually be measured, it’s a good bet that other parts of the home will be affected and you cannot just ignore that it has occurred.

If you suspect a foundation problem with a renovation or “fixer upper” property, consult a professional to inspect the situation at once and make necessary repairs before the home is placed on the market.

If you enjoyed this article please come discuss what you are currently doing in your renovations with us on Facebook. Please also share this article with your real estate investor friends by using the awesome share bar to the left!

Return on Investment in a Fix and Flip Bathroom Renovation

It’s important to utilize your renovation dollars wisely, and a residential bathroom can usually be perked up for a minimal investment, especially considering the potential value of return. With that said, don’t scrimp here, the extra money spent will be returned if not directly in the price, in house fast your property sells, and we all know that can impact your bottom line.

Fixture Fix-Up Decisions

If the bathroom fixtures are still in good condition, replacement may not be necessary. If they are dated and worn, replacement is recommended in the renovation process.

If the shower or tub unit is a one-piece fiberglass type, it is better to consider refinishing or repairing it rather than replacing. In most cases, it can be rejuvenated to look new at much less expense than buying a new one, and you might find the newer tubs larger and difficult to deliver through available doorways depending on the original make and model of the existing unit. Ask your contractor about re-glazing. If done properly, your shower or tub will look brand new!

Nice new toilets are a good selling feature and relatively inexpensive if you stick with the simple 1.5-gallon flush type. In most cases, replacement is recommended because of the impression it provides to the home shopper, especially considering the minimal cost involved. If space allows, consider an elongated toilet over a standard size one.

Countertops are High Visibility Impression Makers

Countertops on vanities are high visibility items and make a strong impression at first glance. Savvy home shoppers have done their homework on the latest styles and trends, and cultured marble and solid surface countertops are big sellers and what your buyers are expecting in a recently renovated home.

If the existing countertops are the poured marble type, it may be possible to have them professionally buffed to look as good as new. It is best to check costs to see what the actual difference is between replacement and repair.

Also consider left over granite from the kitchen. In many cases you are paying for a slab and the waste is just that… waste. If there is extra material left over you can often use that in the bathroom for minimal cost.

Bath Cabinets – Renovate or Replace?

The cabinet under the countertop will most often be fine if it is cleaned up and painted. If you prefer to install new cabinets, a new pre-manufactured unit is an economical solution. Any home improvement shop has literally hundreds of prefab cabinets (many including counter tops) to choose from. So if you haven’t already, head on down to your local Home Depot, Lowes, or similar store and see what they have. I think you will be pleasantly surprised!

Bathroom Floor Style Update

Floors in bathrooms take a lot of abuse, and if they are linoleum or rubber tile, a few years of use is all that you can expect from them. Linoleum tears easily and many home shoppers compare properties based on the value and durability of the finishes installed. We recommend you opt for hard tile because of its durability and sellability. While ceramic tile prices do vary depending on many factors, attractive tiles are available at an affordable cost. Also keep in mind the size of the tile when you are picking it out. The smaller or more complicated the pattern, the more money it costs to install.

Wall Finishes – Wallpaper or Paint

If the existing bathroom doesn’t have wallpaper, then the general consensus is to refrain from adding it. You increase your value with a quality paint job rather than wallpaper because a design that isn’t appreciated by a prospective buyer can lose a sale rather than win it.

If the existing bathroom has wallpaper, then we recommend you remove it. Wallpaper was all the craze 10 years ago, but you aren’t trying to sell a house 10 years ago, you are trying to sell it now!

Bathroom Renovation Assessment

Any qualified home remodeling professional will advise that the most economical bathroom renovation is one that leaves existing items in place. When you start to move plumbing and relocate fixtures, you can run into great expense depending on the specifics involved. While this may not always be possible depending on the situation, it is the most economical approach.

It is best to have an experienced bathroom remodeling contractor make an initial assessment of the bathroom and make recommendations on the most economical and yet effective renovation to enhance the selling features of a fix and flip property. You might be surprised at the difference just a few simple changes can make in a bathroom renovation.

If you enjoyed this article please come discuss what you are currently doing in your renovations with us on Facebook. Please also share this article with your real estate investor friends by using the awesome share bar to the left!

What you can do in a small closet is rather limited, especially in a linen closet with shelves. If the existing shelves are wood, ventilated shelving offers a modern update. In an empty linen closet, the wire shelving gives an illusion of more space than wood shelves do.

Walk-in closets are the places to make a real statement, and it is very inexpensive to add features that will transform a simple layout into one that is imaginative and useful. Some of the features that will appeal to home buyers are:

* Dual hanging rods – Most people have more shirts, blouses, pants, and short items than they do longer dresses and coats, so it is much more space efficient to have a mid-level rod around at least half the perimeter of the walk-in closet.

* Curved corner rods – This closing shelving feature makes it simpler to find clothes in the corner and also takes advantage of available space.

* Shoe shelves – In closet areas where there is only one hanging rod located up high, there is generally some wasted space near the floor. Most everyone accumulates multiple pairs of shoes. Simply placing them along the floor takes up space and makes vacuuming difficult.

Closet components designed specifically for shoes allow them to stack for storage, taking advantage of this otherwise wasted space. A shoe shelf located high enough off the floor allows rows of shoes to be stored for easy accessibility.

* Stacking shelves – Even a clothes closet needs some amount of stacking shelves for folded items and/or places to put boxes of keepsakes.

Closet Design Appeal for Home Buyers

A closet shelving design that maximizes all available space makes a positive statement to home shoppers. This is a property renovation that can also be completed very affordably.

Closet shelving component manufacturers also offer very moderately priced “bells and whistles” that add to the selling features of a property such as garment bags, sweater bags, rolling shoe racks, and more. Closets can also be affordably customized to fit specific needs such as laundry rooms, pantries, offices, kids’ rooms, lawn and garden sheds, garages, workshops, and hobby/sewing rooms.

The laundry room is a room that frequently needs attention as it is often a neglected area regarding storage functionality. Many houses are designed with very small laundry rooms, so the use of shelving placed in strategic places is a great benefit. A fold out ironing board is a simple addition that utilizes space sensibly.

If a bedroom is rather large but has a tiny closet, it is better to convert some of the room into the expansion of the closet. The feasibility of this renovation expense should be weighed against the overall storage space available in the home to determine if it increases the sales appeal.

Assessing Modification Possibilities

An experienced home remodeling contractor can make a quick inspection of a property to determine which areas could benefit from some modifications to make the property more appealing to home buyers. Sometimes even a moderate renovation investment is wise to make a “fix and flip” move faster on the market.

Don’t forget to check out your local Home Depot or Lowes. They offer “California Closets” in sectional pieces that you can put together as you see fit. This is a low cost way to implement what we just talked about. They even offer an online 3D space planning utility that allows you to plan your closet and then print out a list of the item numbers you will need to complete your design!

That’s it for now! Please feel free to tell us what you have done to Maximize Storage Space! We love to hear from you!