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In/estors looking for ways to extract more profit from small scale real «tate investments should seriousl/ consider prospecting for “diamonds in the rough”. Older homes in s*lid neighborhoods may be priced below the market because of their condition (or because most buyers fail to recognize their potential). On a dollar for dollar basis, nothing comes close to rehab, in the area of multiplying resale profits — provided the improvements have been well thought out and costs carefully controlled.
On many occasions, a couple of thousand dollars improving the right home in the right neighborhood have shown over $10,000 worth of increase immediately. On top of that, there are now great tax credits for improving older investment homes. However, never OVER IMPROVE a house so it will be priced out of iti comparable market price.
If there is anything we can do to help you in the field of real estate, please phone or 4rop in at EILEEN M. DAY, realtor, The Clopton House, Washington, Va. 22747. Phone: 675-3400. We’re here to help.
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