At some point, you will need to show your portfolio of houses you took from ugly to beautiful. What are some rules to keep in mind?
1) Make sure to Go Ugly Early:
If you find a good ugly house that you can clean up with paint and landscaping, and turn around and flip it in a few weeks, then that is the type of house you want to keep on targeting.
2) Find the ugliest house in the best neighborhoods:
It's easier to resell a house in a nice neighborhood than in a bad one. Find those rough stones among the gems, polish them, and you'll find it easier to sell them because they match the good environment.
3) Look for cosmetically distressed houses:
There are investors that do a good job with buying houses that don't need much work inside, and really only need TLC outside. Some investors have been known to spend a weekend or two just painting and landscaping, then reselling the house for a 20k to 40k profit.
You can spend 2-4 months refurbishing an entire house top to bottom, if that's your thing. But don't forget that doing a cosmetic flip is a viable and proven method of making money in real estate investing.
Just remember to diversify your methods. You don't always have to do a full house-gutting. You can also do re-assignments, options, holds, new builds, commercial, etc. And buying and selling a cosmetically distressed home is often an over-looked strategy.
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