Find It, Fix It, Flip It! by Michael Corbett
People buy homes emotionally and justify it intellectually. Michael Corbett takes you through the home rehab process from the basics to the "brooches" so you can get top dollar for you home.
The book explains the nuts and bolts of rehabbing a house like most rehab books. How to put your rehab team together, how to find the right property with the right things wrong with it, how to finance the deal, how to write up the offer and how to sell the property.
Where the book excels is in Part Two: Fix it. The author breaks the rehab process into "The Six Levels of Improvements." The six levels are further broken down into the "Fix-It Levels" and the "Profit Levels." The "Fix-It Levels" is made up of Serious but Fixable Problems, System Upgrades, and Fix-It Essentials. Where as the "Profit Levels" is made up of Lifestyle Upgrades, Designed-Flip-Techniques, and Dressed-to-Sell Essentials. By working through the levels the goal is to not only fix up the house but to create a lifestyle that pulls at the heart strings of the buyer. The big money profits occur when the property delights the senses and creates an emotional connection with the buyer.
I've seen too many poorly rehabbed houses where the property was either superficially beautiful but the bones of the building were broken or were the building was structurally solid but the finished product was so cheap and amateurish that the work needed to be ripped out and done again.
If you are in the rehab business or looking to get into the rehab business and you want to get your whole rehab project done correctly so you can maximize your profits this is a must read book.
The book explains the nuts and bolts of rehabbing a house like most rehab books. How to put your rehab team together, how to find the right property with the right things wrong with it, how to finance the deal, how to write up the offer and how to sell the property.
Where the book excels is in Part Two: Fix it. The author breaks the rehab process into "The Six Levels of Improvements." The six levels are further broken down into the "Fix-It Levels" and the "Profit Levels." The "Fix-It Levels" is made up of Serious but Fixable Problems, System Upgrades, and Fix-It Essentials. Where as the "Profit Levels" is made up of Lifestyle Upgrades, Designed-Flip-Techniques, and Dressed-to-Sell Essentials. By working through the levels the goal is to not only fix up the house but to create a lifestyle that pulls at the heart strings of the buyer. The big money profits occur when the property delights the senses and creates an emotional connection with the buyer.
I've seen too many poorly rehabbed houses where the property was either superficially beautiful but the bones of the building were broken or were the building was structurally solid but the finished product was so cheap and amateurish that the work needed to be ripped out and done again.
If you are in the rehab business or looking to get into the rehab business and you want to get your whole rehab project done correctly so you can maximize your profits this is a must read book.
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