Property Rehab: Fixer-Upper and Construction Talk

The new rules going into effect on April 22 regarding lead-safe work practices in pre-1978 properties are anything but simple, low-cost or common sense. Yet that is exactly what a U.S. Environmental Protection Agency (EPA) spokesman said. Quoting the spokesman: “The rule provides simple, low-cost, common-sense steps contractors can take during their work to protect children and families.”
Here’s proof the rules are neither simple nor common sense. The National Apartment Association, a group representing the interests of rental property owners, summarized the new rules on its website saying “properties with no children occupying them are exempt” from the rules.
That’s not true. Even a national organization got it wrong.

This is my idea, I have been researching this concept for 6 months now, read Dean's books, and about ready to move forward. I have 20 years past experience in the mortgage industry and have reviewed over 30,000 appraisals in my career. Funding I see as the biggest obstacle. Any feedback is appreciated.

A Real Estate Investment Group with a conscience specializing in the rehabilitation of properties as sustainable, economical, and green structures.

Then reselling to homeowners and investors of like minded consciousness for the future, and a desire for lower utility costs. Reduce , reuse, and recycle from a housing perspective.

Echo Green's mission is to make the earth more sustainable one dwelling at a time!

I found a duplex on craigslist going for 65K w/13K down. Owner is free & clear and will finance the sale. Everything is negotiable. I am hesitant on calling the seller because one unit needs a lot of renovation (seller says 20-25K). Other unit is already renovated, rented producing 9K/yr. I feel that this just may be the one for me. But I am cautious about the down payment (not too much though cause I need to find out if he needs that upfront maybe I could pay it over time). The other caution is the renovation. I need some advice before I talk myself out of making the call. I have heard some many horror stories abot renovations. Are they really that bad? HELP Tks Keiya

Article Source
http://ezinearticles.com/?5-Quickest-Ways-New-Investors-Lose-Money-in-Re...

Investing in real estate has helped thousands of people improve their financial status, but for all its glory it is possible to lose money by being frivolous. There are a few things that newbie investors need to watch out for, especially when working on their first few deals. The quickest ways to lose big money in real estate are:

Article Source: http://www.realestateinvestmentarticles.net

There are plenty of TV programs today that focus on buying a house cheap, renovating it, and selling it for a profit. This industry, known to most as house flipping, is a way to make a quick bundle of cash for the investor taking on the project. Often, if you add up the total property value after work has been done and compare it to what was before, you will see that the house flipping is indeed an effective way to make money. It all depends on what shape the house is in and the type of work that needs to be done. If all goes as planned, the investors reap a quick profit.

Article Source
http://www.realestateinvestor.com/strategies/rehab-real-estate-investing...

A home is acquired with considerable equity but needs improvements in order for a retail buyer to purchase it. The improvements are made and then marketed and sold to a retail buyer

Pros of Real Estate Rehab:
•Ability to make large chunks of cash if done properly
•No tenant issues
•Major roles in the process are able to be contracted out to others

Cons of Real Estate Rehab:

•Managing contractors can be difficult if not educated properly
•Exposure to risk is higher due to usually having to finance the property and/or put money down
•Many feel forced to rehab the property themselves, which takes them out of finding, locking up, and closing on other deals

This information refers to
http://www.naturalhandyman.com/iip/infhomesale/infhomerehab.html

It helps if you choose a house from the start that has a sound plumbing, heating and electrical system.

These are things that are expensive to correct in relation to the value they return to you upon resale. Most often, people cannot see the inner workings of these systems and they take them for granted.

Very few buyers are going to give you an extra $15,000-$20,000 in your asking price because you have replaced things that they can’t see and already take for granted as just a basic component that is buried in the structure. Also, they assume these components to be warranted against defects by you.

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If you are investing in real estate you will face a variety of challenges. First you have to find the right property. Finding the right property is a combination of personal preferences and opportunities involved in a real estate deal. My most important real estate investment principle is; "You make money with real estate when you buy the property not when you sell it". This means that I wouldn't touch a rehab property where the purchase price is not below 65%-70% of the market value.

Seriously, if your looking for good deals, you need, NEEED, to post your investment criteria on **** - it is FREE and THOUSANDS of real estate buyers are getting the deals they are looking for because a ton of real estate agents and investors use this site to network, it is a great tool to have and its free so why not?

Good morning to my DG family. I have a tip that I havent seen in any posts, and it deals with buying needed rehab items at the best price possible. We all need to save as much as possible on material in order to maximize our profits. One source that few people utilize is the Habitat 4 Humanity Resale Store. They carry building materials, appliances, furniture etc, and their prices are normally below the big box store prices. I am posting the link so you can check it out. Best of luck to all of you, and may you realize your goals!!

http://www.habitat.org/restores/default.aspx

Steve Guy

We never get all we want but we always get what we expect.