Fixer-Uppers The top five myths!

Good evening Will. It isn't easy and yet want it that way, even when those days are gone.

Hi Will Hamm - no way is it as easy as on TV.  And yes, the times have changed.

Hi Will- I get a kick out of watching some of the fixer upper type shows on HGTV. 

You are right Will Hamm these type of properties were found 4-5 years ago.  and those believing on the TV shows won't never understand the current market. 

Hi Will,  Thanks for sharing the info on fixer-uppers.  The right home, right location, right time - make a big difference in the effectiveness of fixing -up a  home.

Hi Will Hamm .  My general contractor husband avoids fixer uppers at all cost.  When do you stop?  Once you fix something, you find a bunch of other somethings that all need fixing.  A fixer upper can quickly become a money pit.

The margins have certainly tightened up due to the popularity and deals that used to yield 20-30% profit are only yielding 5-10% these days because of the competition.

Fixer uppers and flips have been way down in our area.  The ones that are available seemed to be snatched up in a matter of hours after hitting the market.  We just don't have the foreclosures like we used to, which I think is a wonderful thing.  Hope you have a great week!

Will,

Myths will always be there regardless what those experienced ones say.  Fixers are not the end all be all money maker!  A

Will Hamm is right! As the market turns, so do market values and prices people (especially investors) pay on homes today. 

Will

So true, so true. The golden age of fixers has long pasted and to find a decent one today is almost a treasure hunt. The one thing about doing fixers several years ago that many forget, the two largest companies here doing them when the worst when it came to quality of work done. Many of the homes they redid where total cover up jobs.

I hope those buyers did ok do to how much the market has appreciated since then. cheers cvc

Our market has been stagnent long enough now that flipping may start to work again but it's still cheaper to go with new construction then purchase a flip... but it's getting closer.

And there is a HUGE difference between "Fixxer-upper" and a "Full Rehab" but some people don't want to admit it.

Thank you for sharing the wonderful information on fixer upper. There are alot of items to think about on this topic.