Comet Settlement Real Estate

In my profession as a home inspector, I get to witness some amazing flipping deals. Some are profitable, some aren’t. Here are the common mistakes I see flipper continuing to make.

#1. Falling In Love With The Home: Hey, it’s just a house built out of sticks and clay. There are thousands more. If you can’t keep from falling in love with every home you see, then flipping homes isn’t for you. Never forget it’s a business, treat it that way.

#2. Keep Your Mouth Shut! There’s an old saying in the Navy. “Loose lips sink ships”. More than once I’ve inspected a home for an Investor and have the Investor call up a week later saying they lost the deal to someone else. Some people just can’t keep their mouth’s shut. Wait until you walk away from the closing table to tell everyone what a deal you made!

#3. First Impressions Are The Most Important: Spend the dough on the landscaping and exterior of the front of the home. I’ve seen more homes sold and more homes fallen in love with (see rule #1) from a great first impression than any other single item. Clean and shiny door knobs, door knockers, coach lamps and address numbers will add to the impression. If it doesn’t add cosmetically to the home, get rid of it.

#4. Don’t go overbored The simple fact is that most homes can be flipped for a decent profit by cleaning and replacing the carpet and paint. Too many times flippers think they need to sink thousands of dollars on a home to make it sell.

Many times what happens is they will remodel the home and it ends up being priced higher than anything in the neighborhood and sits on the market untill the Investor drops the price. Take a page from the flipping pro’s book. Keep it to the basics. You’re trying to make a profit, not make the front cover of a glamour magazine.

#5. When In Doubt, Reread Rule #1 Some people need Rule #1 stapled to their forheads!

#6. Don’t Get Greedy! If you’ve priced your home well, then take the first offer that comes along. It’s not worth your home setting on the market for months because you’re too tight to come off the price a thousand or two. Reread rule #1!

Donald Lawson is a Professional Real Estate Inspector licensed in Texas (#5824) and Oklahoma (#454). He currently owns and operates V.I.P. Home Inspections, a Houston Home Inspection company. If you’re interested in investment opportunity’s in Houston Tx, see his Houston Real Estate page.

Tags: flipping a home, flipping houses, home inspections, houston, real estate, real estate investment

There are advantages to using the new roofing products. The cost, durability, and life cycle are longer. The new products are created from recycled and natural materials. When your roof, made of shingles, needs repair, the old shingles are removed and taken to a landfill.

If you are considering one of the newer roofs, you must take the weight of the material into consideration. Some of the newer materials, such as slate and tile, can weight five to ten times more than asphalt shingles; therefore, the supports must be strong enough to hold the added weight.

While this will increase the expense of installation, the expense will only occur once. To determine the actual cost, you must take both the cost of the product and the added expense of strengthening the rafters or trusses. Then determine the length of time of your product warranty.

If you are concerned about the environment, you can use recycled plastic products. Since they weigh approximately the same as shingle, you will not have to strengthen the support system. This will save you added expense while still allowing you to gain the benefits of the new materials. Plastic can carry a warranty as long as fifty years.

Other quality materials to consider using are:

1. Slate
2. Tile
3. Shakes
4. Fiber-cent
5. Cedar Shakes
6. Pine shakes

There are companies out there today specializing in a variety of roofing materials. Check online for more information. Improving and maintaining your Real Estate will help when you decide to sell your home.

Nan is an Accountant and Real Estate Professional with an information and research site online
RealEstateLady and a Business
Writer with a blog BusinessTips.

Tags: home improvement, metal, real estate, roof, shingle, slate

Are you thinking of buying a home that needs a little work?

For many people, this is a good way to get a bigger house, get a cheaper house, or make money by fixing up the house and re-selling it.

If you’ve never owned a house that needed lots of work, then you owe it to yourself to think about this decision carefully before signing any paperwork!

What are the benefits of owning a home that needs a little TLC?

There are many benefits to buying a home that needs some work.

If it’s an older home, then many older homes often have a lot of “charm”. Materials and workmanship are often very good in an older home. Floor plans are often “creative”.

And you can certainly get a home that needs some work for a lot less money!

But what are the issues to consider before buying a “handyman (or woman) special”?

First, is the house up to code?

While owning a home that is not up to current construction standards is not a problem in itself (most towns recognize the codes used at the time the work was actually done), if you do any renovations or remodeling and need a permit, you may run into trouble – and have to do extra work to get the house up to the standards of the current codes.

And this work can sometimes be costly. So before you buy any house – especially one needing some work to get it into shape – have the house inspected. This is a small investment that could save you many times to price of the inspection!

Finding problems is not a bad thing, it just helps you avoid unpleasant surprises and gives you more information to help you make the right buying decision for your situation.

Second, do you have the time to do the work?

If you have enough money to hire someone else to do the work, congratulations! If not, take some time to think this one through very carefully.

If you’ve never done the type of work needed, expect that you will make some mistakes while learning – and that these mistakes will cost you both time and money!

And if you have fixed up a house before, you already know that what you see on the surface does not always tell the whole story. Once you remove a wall, a floor, an appliance, etc, you may find a whole new set of problems you never considered.

Not that you shouldn’t even consider fixing up a house on your own. Just be prepared for the reality that if the section of the house you can see has not been well maintained, that the structure underneath may not be in great shape either!

Third, do you have the money to do all the work?

And if you don’t, can you live in the house while you wait?

As mentioned above, sometimes a project involves much more than meets the eye. And construction costs can easily go upand upand up!

If you have enough cash saved up, good for you. But do you have more than enough saved up, in case there are surprises?

Tough question, but one to consider carefully!

Should you just avoid buying a “fixer upper” unless you are a handyman (or woman)?

Trust me, there is no greater feeling than finishing a project that makes your home look better (and more valuable).

So if you like getting dirty, if you like learning new skills, and if you like doing your own work, buying a house that needs work can be a tremendous experience.

But getting to the end of a project can be challenging.

And it’s a challenge you definitely need to be ready to take on!

Kris Bickell is the owner of HouseBuying-Tips.com, a site that helps first time home buyers avoid the costly mistakes that many new homebuyers make. For more tips on buying a house, getting a mortgage, finding a realtor, and getting out of debt, sign up for the free “How To Avoid These 10 Costly Mistakes When Buying Your First Home” email course at: http://www.HouseBuying-Tips.com/

Tags: buying older home, fixer upper, handyman special, house buying tips, real estate help