Hey there Appleton, Wisconsin real estate investors! I know you've been diligently scanning all the usual sources to find great potential house flips that you can buy low and sell high. Some of those properties just fall into your lap - but others may take a little extra work. The truth is, taking on real estate investment projects that nobody else wants to touch in Wisconsin can result in big dividends. Let's look at some of the "major issues" that some people don't want to touch, but can lead to BIG PROFITS for you! I give you: 4 things to look for in a possible rehab or flip in Wisconsin!
Yikes, mold is the yuckiest of the yuck. It smells, it grows, it LIVES! And it can be a potential health problem for the residents of the home. But for the smart rehabber, finding a house with MOLD can be PURE GOLD. Why? Well, like all of these issues, a moldy house is a cheap house. We won't go into the specifics of how to deal with a moldy basement or house here, but don't let mold scare you away. In fact, embrace the mold, because you are embracing big potential profits at the same time!
2. Bad Basements
Ugh, bad basements. Cracks in the concrete, mold, water damage, broken plumbing. The basement is like the guts of the house, and let's just say all problems lead to this area. For a smart rehabber, their eyes light up when they see a severely damaged basement. Why? A bad basement takes some serious extra effort to fix, but a finished basement can also be a nice selling point for a rehab after you clean it up.
3. Water Damage
Water damage won't always be confined to the basement - it can be present all over the house. Just make sure you locate the source of the damage before you jump into a project involving water damage. Roofs can be expensive. Still, finding the right property with major water damage can be a coup when you fix it up right and flip it for profit.
4. Crummy Garage or Outbuilding
Garages or sheds that are in disrepair can be a real eyesore and a pain in the butt - unless you are a rehabber, of course. Garages have huge potential when it comes to adding value to a flip. Do your numbers, and budget enough in to fix up a garage, and you can add huge value to a property.
Looking for investment advice in Appleton, Wisconsin or the Fox Valley? Join us at the next Appleton REIA event! Besides monthly events to network and meet likeminded individuals, listen to expert Speakers, and uncover some of the "secrets" on how to be efficient and profitable in the realm of real estate investing. Don't forget to check out Appleton REIA's Coaching Program.