Julia Vakulenko

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MLS# T3143568

RARE OPPORTUNITY for lakefront property on Lutz’s ski lake, Lake Brant. This spacious 4 BR, 2 BA home features a cook’s dream kitchen as its focal point to family living. Separate laundry room & pantry along with addt’l linen & hall closets...
Visit this property in LUTZ: 1916 REBECCA RD, LUTZ

MLS# U8025394

Beautiful hand-scraped hardwood flooring and a wood burning fireplace add a cozy, modern feel to your living room. The master bedroom is spacious with his and hers closets and an updated master bath. The third floor bonus room is 800sf with plenty...
Visit this property in PALM HARBOR: 286 WINCHESTER WAY, PALM HARBOR

MLS# U8025541

Located on protected waters yet right off of the bay, this location is perfect for enjoying the sunset views and the boating lifestyle. The kitchen overlooks the pool and has island for a quick bite. This home features over 2400 sq ft with one the...
Visit this property in ST PETERSBURG: 947 EDEN ISLE DR NE, ST PETERSBURG

MLS# U8025145

This 2 bedroom, 1 1/2 bath unit is turn key, comes fully furnished and has year around rental availability. Complex offers 2 pools, workout room with saunas in each locker room, and gated security. Walk across the street and watch the beautiful...
Visit this property in MADEIRA BEACH: 320 MEDALLION BLVD #C, MADEIRA 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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