BPO & Apartments

Last Saturday, a friend who’s a Top Producer asked me to help her with the valuation of  a house, of her close friend, that she’s putting on the market in Bedford. I did my homework, priced AS IS and priced FIXED-UP, Big difference. Although we Real Estate Investors usually know all our costs and multipliers-

For instance a paint job that might cost us $3,000 can add a value of $10k (at least a 3X return)

-it’s hard to place a value on clutter and smells. Especially since we’re almost immune to them when we live there. So I’ll take it a step further. Most buyers can not see the finished product that we Real Estate Investors see with our insight. They will often think they can’t even get their spouse to take out the trash how can they expect to get the basement finished or a kitchen upgraded or even a room painted! It’s got to be perfect for the retail buying market!

The step further is not a multipler X with Clutter and Smells. It’s X as in No-Sale and No Further Interest. Don’t get caught, not doing the cheapest of home improvements: Getting rid of Clutter and Smells!

Mike

PS Figure out why she asked me to look at it and make recommendations?

Mike Hurney
 

Mike Hurney is the Founder and Director of MassRealEstate.net, an Association of Contractors, Investors and Landlords. He is the Author and Coach of the popular Course "How to Become a Real Estate Investor in 12 Easy Lessons" which Trains and Guides Beginners or Sharpens and Challenges the Skill of Advanced Investors. Mike is a Successful Real Estate Investor, Rehabber and Landlord. He's also a Construction Supervisor. MassRealEstate.net PO Box 307, Marblehead, MA 01945 Office 781-631-8018

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