Julia Vakulenko

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MLS# U8061301

Almost 1300 sqft heated. Fenced backyard. Cash only. Sold AS IS.
Visit this property in TAMPA: 2914 E 24TH AVE, TAMPA

MLS# T2897587

Location is great with easy access to shopping, restaurants, U. 301 and I-75. Pete, and Orlando. There are 2 mobile homes on 3.
Visit this property in WIMAUMA: 5575 STATE ROAD 674, WIMAUMA

MLS# T2939312

exquisite masterpiece offers extraordinary views of Tampa Bay, downtown Tampa and St. Expect to be impressed as soon as you enter the grand foyer with a sweeping, wrought-iron stairway, then through to the open living area with expansive views of...
Visit this property in APOLLO BEACH: 6434 BRIGHT BAY CT, APOLLO BEACH

MLS# U7854649

50% sold out. High ceilings, spa-like master bathrooms, and recessed wall features add lavish touches. Residents will enjoy 2 reserved covered parking spaces assigned air conditioned storage as well as a beach locker. Flexible pet policy for...
Visit this property in CLEARWATER BEACH: 15 AVALON ST #6F/603, CLEARWATER BEACH


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Tampa Fixer Uppers

When you are considering the purchase of a fixer-upper, it is really a game of buyer beware. If you do not know exactly what you are getting into before you buy one of these properties, you could easily be getting yourself in over your head. But with organization and planning, you can make a profit by purchasing fixer-uppers, making all the necessary repairs, and reselling the property.

While there is a good business in fixer-uppers, not everyone can get the easy money that the thought of this type of property has promised. It is actually extremely risky to buy one of these homes thinking you could do just a little work and resell fast. Sometimes though, there are hidden problems that could be damage to the structure or other major work. Some cases, the house cannot be fixed at all for profit.

A savvy shopper for a fixer-upper will know to buy the least desirable home in the best neighborhood. Then the buyer will be able to calculate the cost that will bring the home to its full value potential. It is important to the research the market thoroughly before an offer is presented. Buyers never want to waste their money on house payments to carry the property for longer than they have to. Plan to sell under market value if necessary.

Another good tip is to stay within a budget. If you go overboard, you will never see the return in the sale price. The highest returns come for kitchen and bathroom updates. For first time buyers, it may be a good idea to purchase a home that only needs cosmetic repairs.

Before you get into anything, the most important thing to know it what needs to be fixed. An inspection is crucial to choosing what property to buy. It is worth the money in the end because then you will know exactly what you are getting in to.

Watch the price on the property. If you are buying a fixer-upper, be careful not to overpay. You will want to know the budget for the improvement and selling costs before you shop for a house so that you can determine how much profit you can make from the sale after the repairs. Paying too much for the property will only cut into the profits. Curb appeal, painting, and landscaping should be the first improvements made to get an instant impact.

A fixer-upper can be a great opportunity for a first-time home buyer. It is an even better deal when the person who purchased the property can live in the house while they are working on it. It is also better if they can do the work themselves, but they must know how to do it, otherwise the return won’t be there. And if the buyer lives in the home for at least two years, they can avoid paying income taxes on their profits in some cases. This is a way to ease the risk of buying this type of house.

 

The Home Buying Process:

 

Types of Resale in Today's Market:

 

Taxes, CDD, HOA, and Homestead:

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