BrandBacker Member The Trials And Tribulations Of Purchasing A Fixer Upper

The Trials And Tribulations Of Purchasing A Fixer Upper

Wednesday, May 22, 2019

*This is a sponsored post.

 

If you love nothing more than watching a renovation show or two in the evening, and you have some cash in your savings account that you want to put to better use, you could do far worse than purchasing a fixer upper to renovate. Financial experts have always stated that property is the most worthwhile side hustle to have a go at, if you’re looking to become an amateur investor of sorts. Brick and mortar, while fluctuating, is seen as a sound long term investment.

 

You could choose to purchase your less desirable property from an auction or through the traditional real estate route. Either way, you must buy at the right price and leave yourself enough financial wriggle room to do up the property and relist it at a price that will leave you with a handsome profit after relevant taxes and fees. Take a look at this simple guide to help you navigate the trials and tribulations of a fixer upper.

Buy Well

Forget that property that looks like it’s listed at a price that’s too good to be true. The chances are that it is. Ridiculously cheap properties always have something holding it back from realizing its true value. This could be a severe structural issue like subsidence or foundation underpinning, the fact that the property has asbestos in its walls, being in a crime ridden area or surrounded by a flood plain. You need to look carefully at every aspect of a pro