Real estate investors specializing in fixers make higher profits when they have a detailed work plan and know how to get around the future resale appraisal issues.
Before you begin your fixer makeover, taking a few extra steps helps you make more money, avoid future appraisal pitfalls, and have more fun.
1) Planning for Profits
Visualize your final home presentation for sale. Write out a description of the future home you imagine for your sales flyer. Name your home something other than just the street name; calling your fixer "Edna Street" doesn't inspire like "Sugar Plum Cabin." Your overall design plan helps you when shopping for building materials with choosing design details that go together for a harmonious whole house theme.
2) Take Photographs for Your Future Appraiser
You may have taken photographs during the escrow process, showing the seller