Do It Yourself
It is easy to be tempted to take the simple route when buying a fixer upper as a side hustle. You still have a full time job, work hours are long, and the last thing you want to be doing when you get in from the office is heading to your fixer upper to do a spot of wallpaper removal or plastering. However, if you get a professional team of renovators in, they will cost you a small fortune that will eat into your potential profits. Making money with property takes time, effort and hard work, so you need to be ready to make the commitment. Get yourself down to a part time evening course to learn plastering basics, know how to fix a leaky tap, and develop your carpet laying skills. With this skill set under your belt, you will be saving lots of cash on tradespeople. Whip up the wallpaper, get the paint on the walls and remember that your lack of a social life at the weekend will be worth it in the end.
Furnish Your Pad
You might be tempted to save the dosh and leave your renovated dwelling bare. After all, any potential buyers want to put their own stamp on a property and should have a vision for their new purchase. However, by putting some cheap furniture, swanky artwork and cool drapery in the rooms of your property, you will be able to seduce buyers with a potential lifestyle. You don’t need to head to a designer store to buy a luxurious and expensive sofa. Instead, scour the auction rooms or thrift shops and buy something second hand. This is perfect to put into storage to then pull out to furnish every renovation that you undertake.
No one appreciates walking up the driveway to a house to be greeted with loose paving slabs, an overgrown jungle like garden and mucky window fascias. The frontage of a property is the first thing that welcomes any potential buyers. It’s vital that you make the facade bright, clean and neat. Get out the lawnmower, do some weeding, relay the paving slabs and get the window cleaner around. Put some greenery out the front and whip up some hanging baskets to add a touch of color.
Buying a fixer upper is exciting yet daunting. Follow this guide to maximize your chances of making a healthy profit.