Tips for Success Selling Even if the Market Drops

by : Sacha Tarkovsky

If you want to make money in real estate you can do so even if you have no experience.

All you need to do is fix houses up to a set formula. Here are your 3 simple steps to make money fixing houses even if house prices crash.

1. Buy only in areas you can turn a profit quickly,

You want to be able to sell the home you have bought and get out quickly and bank your profit.

Go for areas that are in demand in any market. You will pay a bit more, but there is less risk when you come to want to sell and move onto the next house.

2. Lock in The Value of the property

In a bull market of course you don't need to do this but with property prices on the slide (don't listen to estate agents look at the fundamentals) and interest rates biting, you don't want your house to fall from its current market rate.

The current market value of the property is what you are basing your profit projection on.

Today, there are many companies who will lock in your property value at the current market rate.

If you paid $250,000 and the market value drops to $180,000, they will give you the full $250,000, or the rate you locked it in at.

In a bull market you don't need to take up the option, in a bear market it can be lucrative as you get the full price paid and then can buy your next property cheaper and start all over again.

3. Improvements To Add Value

Now you have a base rate to work off lets look at the obvious improvements you can make to flip your home for profit.

Start by Improving The outside

Landscaping or 'curb appeal' is a huge selling point.

Keep in mind:

First impressions often sell a house.

Kitchen remodeling

Can get more cash value and is an excellent upgrade, as to are bathrooms.

Replacing windows or doors don't add much unless they are in an obvious state of disrepair
Make sure the style of the home is up to date and is Change the carpeting and walls into a neutral color scheme for wide appeal.

Fixing up your home on the outside offers more value for improving your homes value than on the inside in terms of expense.

Inside make the home as broadly appealing as possible and Make it look like it has been well cared for.
Keep in mind only fix up the items that can be seen by prospective buyers.

Don't do electrical upgrades or plumbing fixtures that look fine.

Simply, make sure that the house looks well cared for. Start on the outside first and then make the upgrades suggested internally and make the decor have a neutral look for wide appeal.

Don't bother with things that people cant see, they wont add much value.

The upgrades above can be done by anyone and are both easy and quick to do.

You can move onto more complex jobs later, when you have some profit in the bank.

So get the right location, lock in a profit base by, locking in the property value and make essential upgrades and you will be on the road to make a tidy profit.