I think you will agree that the way the money is managed on a fixer-upper can make or break the deal. Consider these suggestions for saving or leveraging your money.
1.Use 0% interest credit cards to pay for materials. Pay the balance off on resale before the default interest rate kicks in.
2.Buy supplies at Home Depot when they offer 3,6,12 months interest free financing. Usually you have to spend $299.00 to qualify (which is easy on a fixer upper).
3.Find handymen or contractors who want to establish a long-term relationship with you and are open to getting paid when you flip the property. Most will not be able to do this because money is tight, but if you never ask you never get!
4.Save money by buying overstocks and seconds on moulding, appliances, floor coverings etc.
Just a few common sense suggestions to keep you and your budget on track.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125