Welcome to our invaluable buyer resource. Our OC Daily Fixer Home List is a free service we offer to buyers and investors looking for potential deals in the Orange County Real Estate marketplace. Our list of “Fixers” offers an updated list of homes that could make great properties for real estate investors, buyers looking to “fix and save” or low cost real estate choices for savvy home buyers. Sometimes labeled “Handyman Specials”, “Investor’s Specials” “Fixer-Upper” or “Fixers” this is a list of homes currently for sale in Orange County that offer a significant savings due to the condition of the property. Many of these homes need TLC. Some of them are basic cosmetic fixer homes, while some of the houses need lots of work. Click the Daily Fixer List button below to see the list.
ATTENTION BUYERS: If you are already looking to buy a real estate fixer or investment project, then we assume you are price sensitive. Take advantage of our 1% Real Estate Buyers Rebate and earn even more on your purchase or real estate fixer project! Learn more about our buyers rebate program at our dedicated real estate buyers incentive page here: Changing the Rule of Buying a Home.
Advice on Fixer-Upper Homes:
Almost everyone is aware of fixer upper properties, these homes are always available on the Multiple Listing Service (MLS) and they offer excellent value to the first time home buyer as well as the real estate investor because, it’s fairly common to find properties that you can purchase for 20 percent off their market value. Like courthouse auctions, buyers must be prepared to pay for a fixer upper property with cash.
There are many advantages to purchases a fixer upper property including:
- The home owner will have the opportunity to make decisions on how the home is decorated and remodeled.
- The person who purchases the home can move in and work on it as they live there.
- The home buyer, you will typically enjoy more house or square footage for their investment
- Fixer upper properties typically have more “charm” than newer properties and for the real estate investor, having a property with “charm” will pay off when they want to sell it.
ORANGE COUNTY FIXER UPPERS
‘Buyer Beware’ when considering the purchase of a fixer-upper. Buyers really need to know exactly what they are getting into before buying one of these properties. For many first-time home buyers, purchasing a fixer-upper can be a great opportunity, especially if they can live in the house while working on it, and better yet if they can do the work themselves. It makes for a less risky investment.
The belief that fixer-uppers represent easy money is not always the case. In fact, it can be quite risky buying one of these homes, doing a little work, and then trying to quickly resell for a large profit. Properties with damages to their structure, or an undesirable floor plan that requires major work, may not be able to be fixed up for a profit at all.
PURCHASING A FIXER UPPER
With proper planning, good profits can be made by purchasing properties that need fixing, making repairs, and then reselling. Without proper planning, a lot of money can be lost.
Part of a good plan is to find the least desirable home in the best neighborhood. Then, calculate the cost to bring the home to its full potential value. It’s very important before making an offer to make sure that the resale market has been researched. A buyer does not want to get caught with an extra house payment for too long. It might be best to be ready to sell the home for under market value. Plan for it.
Be careful to not overpay for the property. Calculate improvement costs, selling costs, and how much profit is expected to be gained from the sale. Paying too much for the home will doom plans for quick profits. Work on things that make an instant impact on curb appeal, such as painting, landscaping, and removing debris. The best bet is to purchase homes that have only cosmetic problems like a trashy yard, bad carpet, peeling paint, and wallpaper all over the place. Fixing and cleaning cosmetic issues are usually inexpensive and easy.
Stay within a budget and don’t go overboard, as it’s not good to over improve. The highest paybacks can come from updating kitchens and baths. For the inexperienced investor, it may be best to find homes that only need cosmetic fixes and not major structural repairs.
The most important thing is to know what needs to be fixed. Always have an inspection performed by a home inspector before buying any property. It is well worth the money. I recommend this even to people that work in the construction industry.