Renovating real estate for profit
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buying residential real estate can be one of the best investments you will make in your life. Apart from the comfort and security you achieve by investing in your own home, the additional purchase of investment property can lead to both wealth accumulation and cash flow.
make sound investment decisions and you will enjoy the financial rewards. But make one or two key errors when you purchase, or when you renovate, and the mistakes can be financially crippling.
there are many seminars and books that tell you about how easy it is to make money renovating property, but they tend to gloss over the many pitfalls, and just how expensive those pitfalls can be. And it has been hard to get a good understanding of what can go wrong, and how to avoid them.
why doing-it-yourself can be a financial disaster . The seven-stage research process that will guarantee you the best profit margin. How to spot the bargains that other people miss. The best free sources of property market research why most property investment magazines get it completely wrong when explaining how to profit from renovations.
the five types of properties that you will almost never make money from renovating. The six most common causes of delays in renovation projects. How to find the best tradesmen to work on your property; and keep them. The golden rule for how much money to spend on your renovations. Why many renovators are losing money on renovations when they think they are making money. …read more detail
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