Atlanta, 770 Capital Investment Group

Buy and repair: is it worth the investment?

This trend is quite popular with experienced investors.

The real estate market offers various ways for savvy investors to make money. Although most prefer to buy a property then resell it several years later, there are more risky investors, those who are able to detect a “diamond in the rough”, who prefer to buy abandoned properties, repair them and sell them quickly to make a profit.

But are these projects worth taking? Does the repair and sale of abandoned properties bring good profits? In this article, we are going to answer these questions and dispel the myth about abandoned properties.

Buying, repairing, and selling abandoned properties.

Yes. It is possible to make good money with the sale of abandoned properties, as long as the price you have paid for it is not too high, and the repair does not entail excessive expenses. Before taking on these investment projects you should evaluate the pros and cons to determine if your investment of time and money will be rewarded with a good return.

It is also essential that you do not rush to decide; what at first may seem like a cheap property with few repairs, can result in a waste of money. Repairs to foundations, structures, walls, and floors are very expensive, so you should avoid buying abandoned properties that require these repairs.
It is advisable to buy abandoned properties that are not heavily damaged inside. The facade is always easier to repair and improve. Do your due diligence and hire experienced contractors to inspect for damage and perform any needed repairs.

If you acquire a historic property you must be very careful what repairs you perform as older properties may require more work, which translates to more money invested. There is a special market for this type of property and buyers are willing to pay more for properties with history. If this is the case, we recommend you seek expert help.

If you are thinking of acquiring an abandoned property to repair and sell, the 770 Capital Investment Group can offer you the top quality advice you need to make your investment a success! Contact us at 770-227-4825; we are ready to assist you 24 hours a day and give you high-quality real estate advice!

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