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The 11 Smartest Ways to Add Value to Your Flip Property

Flipping is all about adding value to a property in need of help.Today I’m sharing my secrets for the smartest things you can do to add marketing appeal to a newly-comfortable home.

 

Kitchen & Bath

Granite counters – granite is often expected; competing homes will have it

Modern tile that is 18″-24″

Updated cabinets – new paint or stain is usually sufficient, but very important to do

New modern cabinet hardware –an  impressively high-impact, low-cost item

New light and plumbing fixtures

 

Bath

Everything just above, and …

New vanities and shower surrounds – old showers often just won’t look great

 

Interior throughout

New carpet – cleaning of old carpet often won’t pass picky home shopper inspection

New door hardware – high appeal, it looks great and the cost is moderate

Paint inside and out – no substitutes for the fresh effect of new paint

 

Exterior

Landscaping the front yard -don’t under-estimate great curb appeal with a little color

 

Too often flippers become immersed in infrastructure repair and updating and overlook the power of these cosmetic upgrades. In my long experience as a flipper this list has a good history of payback in the closing price, reducing the time on the market and moving home buyers to offer and close.

 

All of the materials can be found at a discount with the right contacts, and still be beautiful. This is especially true for flippers since vendors look forward to a steady stream of future business. Project partners can be selected for their ability to bring both discounted material and their own skills to the project, making these upgrades more effective and cost-efficient.

 

There is a fair amount of DIY opportunity with all or some of these upgrades for those who are truly handy with a tool box. But be warned! If you don’t have the skills and experience of a professional, DIY can become a sinkhole of added cost, when measurements are off by a fraction, or counters aren’t level, or other common mistakes inevitably occur. It usually costs more and takes longer to do it over than it does to do it once, professionally.

 

Carefully consider this list for each flip project, and take the smart route to adding value for marketing appeal, more offers and faster closings!

When you show a home, what are the items and areas that bring the most positive response from home buyers?

 

For more information on how you can escape the rat race for good and create lasting, generational wealth with real estate, download my FREE ebook, “How to Find Underpriced Properties: Secrets for Creating Wealth with Real Estate in ANY Economy.”  Visit http://StreetWisePropertyInvesting.com/Ebook.

About Author

Andy Werner
Andrew J Warner

Real Estate and investing have been my passion for over 15 years. I love transforming a broken down distressed property into something that is fresh, updated and modern. My real estate investing career began in foreclosures, but I have also built new, worked direct with sellers, apartments, condo conversions, rentals, wholesale, commercial etc.

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