Congratulations you've bought your first fix and flip investment! Now what? The idea and income potential of a fix and flip is alluring to many entrepreneurs, especially with the rise of television shows. While it seems fairly easy and doable in one scope, the breakdown and work put in is far more than what the camera reveals.
Repairs should be based on your strategy, is it a long or short term rental? Buy and Sell? Is the property safe? After those questions are answered, the list of deciding what repairs to do and the different choices that come with it rises. Details are an important part of fixing and flipping as it pertains to costs and ultimately the property being sold. Mark Ferguson, the founder of Invest Four More breaks it down, from the best paint color to differentiating between updating and upgrading.