Which improvements should you make to a property?

Over-Improvement? or Feature-Rich for max ARV?

You face many decisions when renovating a property. Here’s a quick guide on how to tackle the questions.

Fix everything that is broken. You want to deliver a house that is in good working order. People do not want to pay retail for a property that needs any repairs. Download and use the Flipping America 139 point Home Inspection form

Make a list of all the other cool features you’d like the house to have. These are where you’ll have to make some tough decisions. 

Making the tough calls:

How are you doing with the budget? After all of the necessary repairs (plus 10-15% for the unexpected), do you have the budget to do anything else? If not, stop here. 

The key word is “appropriate.” You want to make the property consistent with other properties in the area and in its price range. 

One “wow” feature is enough. 

Two final things to remember: 

It’s not going to be your property. You don’t need to add features you personally would love to have. 

It’s not about max ARV (After Repair Value). It’s about max ROI (return on investment). 

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