The Cheese Moved

By
Real Estate Agent with Century 21 Aadvantage Gold, 702-719-2100

The cheese moved

Las Vegas

Investors

 

Have you just worked out a great strategy, only to find the rules changed , or it no longer works?  That happens often now with the current real estate market?  For Example:  You must hold a property that you buy for 30 days.  New laws put a damper on your plans.  It's not the end by a long means.

This strategy will not work for everyone

It's great for those of you that get into fix and flip.
It is still working and will continue to work, as long as "Fix And Flip" is alive.

Have you ever noticed that a functionally obsolescent home remains on the market so much longer than normal homes do.  A home fits the criteria of obsolescence  when it doesn't have adequate bedrooms,  or bathrooms, or a garage to make it fit today's standards.  An example is a two bedroom home when demand calls for a three bedroom, or a one bathroom  home when demand calls for a two bathroom home.

With this strategy, we are going to take advantage of the fantastic pricing in this functionally
obsolescent property .  We are going to buy a two bedroom , one bath property, and bring it to it's highest and best use, by turning it into a three bedroom  and two bath property.  It will now sell for thousands of dollars more by fitting into today's standards.

Other examples of of converting a home to highest and best use


1.  Find  a multi unit on a large lot and add  additional units.  Be sure to check the zoning.


2.  Finding a single family that zoned for multiunits and convert the home to units.

3.  Take a one story and build up to increase square footage.


Look for this and other  real estate investing strategies on my web.

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Topic:
ActiveRain Community
Location:
Nevada
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Americas Relocation Home Services - Our Mission is to Connect Home Buyers & Sellers With Local Real Estate Professionals
Investing in Real Estate
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Tags:
real estate
investment strategies
fix and flip
real estate investors
highest and best use in real best use
functionally obsolete homes

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Rainmaker
417,501
Marcy Moyer
CDPE
Keller Williams Realty Palo Alto Probate & Trust Specialist

Pat great thinking. I really enjoyed the book "who moved the Cheese" and you are certaining adapting to the changing market.

Marcy

June 30, 2010 11:50 PM
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Rainmaker
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Pat Yoest

702-521-1442
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