Turning a run-down house into a beautiful home takes a lot of work, but many people have recently decided to make this task their career. If you’re someone who likes to work with their hands and you think that you can make a profit flipping houses, then Rehabs 2 Riches can help! Alton Jones, founder of Rehab 2 Riches and best-selling author, created this program to help others build a successful business. With years of experience, Alton can give you all the tips and tricks you need to get started flipping houses and make a profit. Visit our website to learn more about our house-flipping seminar, or check out the shop where you can pick up your own copy of Alton Jones’ best-selling book!
Before you get started with your very own home-flipping business, it’s important that you take the time to do research and learn the terms of the industry. As you begin your journey, you will soon realize that there are different types of properties in which you can invest. In today’s post, we will discuss the difference between rehab houses and fixer-uppers, two common types of properties. Once you’ve finished reading, if you have questions or you would like to learn more about starting a home flipping business, contact Rehabs 2 Riches!
Fixer-Uppers
Fixer-upper is probably one of the more common terms that you have heard used to describe a house. One of the benefits of a fixer-upper is that the initial price of the property may be slightly lower than a house that doesn’t require numerous repairs once you move in.
The biggest difference between a fixer-upper and a rehab house is that a fixer-upper only needs a few cosmetic repairs to become someone’s dream house. For example, a fixer-upper may require that you paint the outside of the house, replace the floors, or touch up the finishing on some of the kitchen cabinets. While these repairs may not seem minor if you’re just starting out in the home-flipping business, most house flippers prefer fixer-uppers to complete rehab projects.
A good way to determine whether the property you are looking into is a fixer upper or a rehab house is to think about if you would be able to live in the house while you complete the project. If the answer is yes, then the property is most likely a fixer-upper.
Rehab Properties
As we mentioned above, the difference between rehab properties and fixer-uppers is the amount of work you need to put in to make the house livable. Fixer-uppers only require a few cosmetic changes to the property, but rehab houses, on the other hand, may require major necessary updates. For example, some rehab houses may need to have the foundation repaired, electrical components replaced, or you may decide to change the layout of the house in order to make it more open.
If you decide to invest in a rehab property, it’s important to understand that there are many risks involved. Deciding to undergo a large renovation project means that you will invest a lot of your time and money. Not to mention, you may discover problem areas that you didn’t account for in your initial inspection. For this reason, it’s always a good idea to have the property inspected by a professional in order to anticipate any big expenses.
With that in mind, there are also benefits to investing in a rehab property, such as seeing a bigger return once the renovations are complete. You also have the opportunity to make a lot of changes that will help the property stand out to potential buyers.
Start Flipping Houses with Rehabs 2 Riches!
When you decide to start your own home-flipping business, there are a lot of things that you need to consider, and the type of property you want to renovate is just one of them. Luckily, you don’t have to learn everything on your own. Rehabs 2 Riches is proud to provide people all over the country with the opportunity to make a profit flipping houses. If you are interested in learning more about Alton Jones and his successful methods for creating a successful business, be sure to check out our house flipping seminar or contact us today!
We look forward to hearing from you soon.
