How To Find The Best Fixer Upper Houses In Your Area

If you are an investor looking for the best deals, you probably will want to consider fixer upper houses. Fixer upper houses are those that needs some work before being placed back on the market for sale or rented out. Some of these will just require some cosmetic repairs to get them in top shape, while others may require a complete overhaul in order to make them livable.

There are several types of investment property that may be considered fixer upper houses. The first is pure foreclosures that are owned by the bank. Many of these have the tendency to remain empty for months, or even years on end, especially in today’s market. As we all know, things happen in a house over the course of time, whether someone is there to witness it or not. But in cases where a home is empty and nobody is checking out the property regularly, bad things tend to happen. Any number of things can put a foreclosure in the fixer upper houses classification, but neglect is usually the number one reason.

Another kind of investment that usually falls into the class of fixer upper houses is the wholesale property. Wholesale property deals are those being offered for sale by other investors. Much like you are looking for fixer upper houses, these investors likely thought they wanted the same thing and in many cases realize later they’ve ended up in over their heads. It can happen to anyone, especially those who have not been investing for a long time. Buying and selling fixer upper houses is a balancing act. You have to balance the amount of work a property requires with the amount of time, skill, and financial resources you have to nurse a property back to health.

Many investors today are also interested in exploring pre foreclosures. Most of the time though, these do not fall into the category of fixer upper houses. In most cases they are still owner occupied and most of them intend to stay in the home as long as financially possible. In many cases if they do end up selling as a pre foreclosure, they will arrange a rental agreement with the new owner, further incentivizing them to maintain the property since they will continue living there.

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