Ward Hanigan’s "Foreclosure Investing in a Deteriorating Buyers Market"

First, buying a great property, second, purchasing it at a great discount, and third, reselling the property quickly. When working with these fast-turn-around properties, there are certain types you need to avoid—industrial, commercial, and acreage properties. Ward encourages targeting residential properties and buying these properties in the “entry level” category in urban locations. Ward advises that in hard economic times people like to band together in tight communities. Rising gas prices is another reason to buy in urban locations as people prefer to be closer to employment and shopping zones.

                                                                    Ward Hanigan

Glitter
Ward says that “glitter” is what sells a house. “Glitter” is what makes the product property look and smell new. He explained how much glitter to use for the fix up on your property. Glitter items include replacing the wood garage door with a new remote control door and ensuring the structure has a good roof. Ward believes that a roofing professional can spot necessary repairs, straighten up roof lines, and certify a roof. You may not need to replace the entire roof, just repair it. Other glitter items a roofer can address are the painting of all vent pipes and repairing rain gutter systems. He says most people look at the roof once and if it looks good they move on to look at other features of the property.

The front entrance door to the home should be replaced with a new, solid door that feels and sounds secure when opening and closing. This makes the potential homeowner feel secure and adds to the total makeover of the property. The front yard should have brand new sod lawn and an automatic irrigation system. The kitchen and bathrooms should get new appliances, surfaces, doors, and hardware. Any popcorn on ceilings or wallpaper on walls should be removed.

Read more...