Real Estate Reference Tips for Beginning Real Estate Investors: Fixing and Flippi
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  by Jeanette Joy Fisher

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  e has cat urine staining the carpet, the sub-flooring or concrete foundation may need replacing. Dog urine cleans up easier. If the walls have too many cracks and bumps, you may need to hang new sheet rock or hire a professional plaster refinisher. Look for signs of plumbing problems such as water stains under sinks and loose flooring.

When you're new to real estate investing, always remember your limitations. Use caution when considering houses needing structural repairs. Some rehabbers replace walls, plumbing, structural beams, sub-flooring, and electrical systems, but they acquired those skills after years of experience or pay a professional.

If you find a house with structural problems, get estimates from reliable contractors to do the work. Experience teaches you how to do more over time. Until then, rely on experienced contractors to do the repairs. Take professional estimates into account before deciding whether or not to purchase an investment property.

Why would anyone want to do this?
How much does the average investor make? In Philadelphia, real estate investors only make offers on houses they expect to make $30,000 on. In Southern California, many investors make $50,000 to $100,000 on each house.

You can make a fortune fixing and flipping ugly houses. Learn your market. Know when "ugly" means bad that can be good, and when stinky means keep looking.

Copyright (c) 2005 Jeanette J. Fisher. All rights reserved.




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