Being that there are a lot real-estate investors on this board as well as guys looking to get started in the business (like myself), I figured we could all benefit from a thread of this nature.
A mentor of mine used to constantly talk about the “Bang for the buck factorâ€. Meaning, what little things can you do for people that will entice them to buy from you over someone else, or more importantly, “Who is giving them the most for their moneyâ€?
In a real-estate market where homes for sale FAR out number the amount of eligible buyers, the presentation of your home when you throw a “FOR SALE†sign out front has gotta play a huge factor in the buyer’s perception of value.
Therefore, what little things do YOU do when selling a home that may not take much time or money to do, but always seem to help speed up your sale and on the best terms?
Do you install crown molding throughout the house? Replace kitchen countertop? Paint every room in the house as “neutral†as possible? Install ceiling fans? Give your bathrooms a minor facelift? (maybe new tile?). Do you replace carpeting, maybe install Pergo flooring? Do you re-face cabinets? Install new door hardware throughout the house? Maybe you install dimmer switches in a few rooms? Maybe you favor exterior “curb appeal†and concentrate a lot on landscaping/rock gardens, koi ponds, fresh paint/siding, etc. etc. etc.
Now, we all know that the key to making money when you flip a house or providing that appeal to your buyers may be a combination of A LOT of the things mentioned above. There will be a large amount of discretion about “what is needed†and what is preferred when fixing a house up, but just for kicks; lets say you buy a 3-bedroom home that you intend to flip, and you have given yourself a $5,000 “FIX-UP†budget to dress the place up. The home is in “decent†shape and doesn’t need a full re-hab or any major repairs (roof/furnace/AC/HW heater, etc.), but it is showing its age, and there are definitely things you can do to it to add “value†or appeal.
Where do YOU start?
What renovations provide the most “bang for the buck†when you’re fixing a house up to sell, and what jobs would YOU recommend to others looking to get the most out of their money when flipping a house?
To the pros that may contribute to this one, thank you in advance for your insight!
A mentor of mine used to constantly talk about the “Bang for the buck factorâ€. Meaning, what little things can you do for people that will entice them to buy from you over someone else, or more importantly, “Who is giving them the most for their moneyâ€?
In a real-estate market where homes for sale FAR out number the amount of eligible buyers, the presentation of your home when you throw a “FOR SALE†sign out front has gotta play a huge factor in the buyer’s perception of value.
Therefore, what little things do YOU do when selling a home that may not take much time or money to do, but always seem to help speed up your sale and on the best terms?
Do you install crown molding throughout the house? Replace kitchen countertop? Paint every room in the house as “neutral†as possible? Install ceiling fans? Give your bathrooms a minor facelift? (maybe new tile?). Do you replace carpeting, maybe install Pergo flooring? Do you re-face cabinets? Install new door hardware throughout the house? Maybe you install dimmer switches in a few rooms? Maybe you favor exterior “curb appeal†and concentrate a lot on landscaping/rock gardens, koi ponds, fresh paint/siding, etc. etc. etc.
Now, we all know that the key to making money when you flip a house or providing that appeal to your buyers may be a combination of A LOT of the things mentioned above. There will be a large amount of discretion about “what is needed†and what is preferred when fixing a house up, but just for kicks; lets say you buy a 3-bedroom home that you intend to flip, and you have given yourself a $5,000 “FIX-UP†budget to dress the place up. The home is in “decent†shape and doesn’t need a full re-hab or any major repairs (roof/furnace/AC/HW heater, etc.), but it is showing its age, and there are definitely things you can do to it to add “value†or appeal.
Where do YOU start?
What renovations provide the most “bang for the buck†when you’re fixing a house up to sell, and what jobs would YOU recommend to others looking to get the most out of their money when flipping a house? To the pros that may contribute to this one, thank you in advance for your insight!
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
dup_taqis:
Vji nupiz zua dep tewi xjip zua lpux upi ug vjuti "kedl ug emm vsefi" vzqi ug hazt ot vsinipfuat!! 
