Upgrades for best return

3 Replies

I'm a buy and hold investor normally, but I just got an offer accepted for a HUD property that I think I may want to flip.

The house was built in 1968 and the previous owner made a half assed attempt at upgrading the home.  Any way, I will be putting in new flooring, paint entire home, fix and complete attempted remodel of master bath, paint cabinets either white or black with new granite countertops.

What other upgrades should I be considering to maximize value? Accepted offer price was $119000, and with the right touches, I should be looking at an ARV of $220,000-$260,000. I plan on doing most of the work myself, so I'm budgeting $10,000-$15,000 for the repairs.

@Mike S.

I am not a flipper. What about talking to local agents? Find out what is hot. What are the people looking for when they buy.

Search the site for articles like it as well.

Sounds like you have a great deal on your hands, I hope you get what you want out of it.

first of all, great deal. There are a couple of things that speak to most buyers more than others. New and updated kitchens with ss appliances, new and updated bathroom, floors and walls as you mentioned and curb appeal. Here is something most don't think of, is the roof. When a car is washed, but not the rims, it still looks dirty. If the wheels are washed but not the rest of the car, it somehow looks much cleaner. A clean or new roof really adds to curb appeal. 

I like what @Valerie Hiscoe said about asking local realtors say about expectations in neighborhoods. Ask several as everyone has an opinion