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Picking The Perfect Neighborhood For Renovations

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You’re more than a home renovator—you’re an entrepreneur. To help you start thinking like a business owner, develop these three habits Hilary Farr shares with other successful real estate entrepreneurs.

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Picking The Perfect Neighborhood For Renovations

  1. 1. PICKING THE PERFECT NEIGHBORHOOD FOR RENOVATIONS Rules of Renovation
  2. 2. REBOUND NEIGHBORHOODS  Take a drive around and look for neighborhoods that have had a rough period, but are coming back. Rebounding neighborhoods will normally have new stores and restaurants popping up and they are likely to have foreclosures and shorts sales, meaning great deals for you.
  3. 3. FRINGE NEIGHBORHOODS  Fringe neighborhoods normally sit on the fringes of popular areas in town. These are normally within easy commuting distance but just a little bit further out and can offer a nicer house at a lower price.
  4. 4. WHAT ARE COMPS SELLING FOR?  Once you’ve found a neighborhood, check out the listings in the area. Find out what comparable properties are selling for and then you can have an idea of what your can sell your property for.  Remember, real estate investing is all about playing with numbers.

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