Kitchen remodels are great ways for flippers to turn a foreclosure property into the first time home buyer's dream home. If the investor can pick up a foreclosure at a great price, and totally rehab the kitchen, this can be a win-win situation for all sides of the transaction. The new buyer can move in and not have to worry about budgeting for a future kitchen remodel, while putting up with worn out appliances, crumbling press board cabinets and chipping laminate counter tops for a few years. ( Remember the saying- "if Momma ain't happy, nobody's happy"! ) There are lots of distressed properties to choose from, but a high percentage of them are in non-updated condition. Buyers want a good deal, and sometimes it is worth just a few thousand dollars more to get a house that has the new kitchen, updated baths, roof, HVAC, etc. They want to move in and not worry for a few years. The investor puts in a month or two of work, has a picture perfect property to market that far outshines the competition. If priced properly, this one will win out every time. The squeeky clean house gets the contract first, and both the home buyer and the investor walk away happy.
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Tuesday, July 12th, 2011 at 3:40pm. 194 Views, 0 Comments.