Fire damage cleanup costs anywhere from $800-$93,000. Updating an investment property is generally a sound strategy – if it’s done the right way. Successful advocates of the fix-it-and-flip-it philosophy are investors , with the investor’s mantra of “buy low, sell high.” So they purchase run-down homes at bargain prices and save money on the repairs by doing most of the work themselves. A little sweat equity goes a long way toward making a real estate investment profitable They carefully choose their remodeling projects,too, focusing on those that will result in the most value for the least amount of effort and cost. Part of the process includes paying attention to the other homes in the neighborhood to avoid over-improving the property. If none of the other houses in the area have crown moldings and Corian counter tops, adding these amenities is unlikely to result in a significantly higher selling price.
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