I had just purchased a new vehicle, and decided to take on a Sunday drive. On my way I stopped at two open houses. Both homes were in the same neighborhood with the same sq footage and looked very similar. I found out later that one sold for $50,000 more than the other.
When I investigated what had happened, I discovered the only difference was an extra bathroom. At the time I happened to have a construction company. The cost of a new bathroom with the permits, plumbing, prints, fixtures (I always go to IKEA for that) and flooring cost around $4500. (Finding room in the home to add a bathroom without having to square footage can be a challenge). Could I put a bathroom in a home for under $5000 with a potential to make an extra $50,000 per home. Hmm?
I tested this theory on a home at 36th st and Indian School. Adding a bathroom allowed me to mark that home up $50,000 and bingo I suddenly had a new business plan!
I bought my next house without even looking at it. (I don’t recommend that though). The address was 2711 E Amelia Phoenix, Az. I did have a little problem though, there were renters in it.
Seeing the massive profit potential, I paid the tenants $4000 to get the heck out of dodge. They decided that they would take the money and run. I made over $40,000 on that home! I added a lot of bathrooms over the next few years all because I was paying attention.
Always keep your eyes open! You never know what you’ll find out there.
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Brett young
Valley Realty
Owner/ CEO Roof Top Investment
Real Estate Investment
http://www.rooftopprofitmax.com/
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