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Table of Contents
Investing in a Fixer
Property And Disputes
Mortgages and Foreclosures
DIY or a Contractor Do It?
When Should You Buy a Fixer
Taking Professional Advice
Selling It or Renting It out
Buying Foreclosed property
My Property Is Going to Appreciate…
The ABC's of Property Expansion
It was somewhere around the early 90s, when I was on annual vacation and I found out that my aunt and my cousin were not coming back from the USA for their yearly visit home. It seems aunt had bought a new property, and my favorite cousin M. and aunt and all their network of friends were busy remodeling it, re-furnishing it, refurbishing it, to make something really market worthy. She would be arriving next year, after she had made a really handsome profit out of this fixer-upper property, and she did just that.
This was in the 90s. It is only in 2020, that I found out that more and more people have woken up to the fact that they just have to invest in a property, buy it, modify it, fix it up, remodel it, and then sell it at a handsome profit.
This book is going to tell you all about whether it is sensible to buy a fixer-upper property, under which circumstances you should buy it, under which circumstances you should definitely not think of investing your money in a fixer-upper property and other tips and techniques based on experience.
Well, aunt did not mind taking the help of professionals, to remodel those properties. Her own daughter was an architect, fresh out of Berkeley. Her daughter’s friends were all eager new creative architects, who knew everything about building, plans, and what could be done to a house which needed a facelift.
Living in the very welcoming city of San Leandro, and in a very friendly neighborhood, she did not mind that the neighbors arrived occasionally to do a little bit of carpentry, on the weekend. A neighbor’s daughter who was an interior decorator just loved the idea of having rooms on which to practice. Within one year, that job was done and aunt made such a handsome profit, that three years later, again, she was busy “sorry, I cannot come this year. I have just picked up another property going cheap and I intend to send it at a very handsome profit.”