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I am planning on branching my remodeling business out into some speculative remodeling. I.E. Buying the ‘dog’ on the block and putting in a new kitchen, master bath, etc. The amenities to be updated. Nothing major in structural remodeling but completely updating the house to put back on the market. Does any one know if kitchens and baths reap an immediate return on money and time invested?? The remodeling business is fine but I would like to branch out into some new areas does this make sense? With all the costs involved– time, materials, interest on loan, closing costs, realtor fees, etc ad infinitum does it make sense to buy older homes with no structural defects to ‘fix up’ and put back on the market? Anyone with knowledge or advice would be welcome.
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I am planning on branching my remodeling business out into some speculative remodeling. I.E. Buying the 'dog' on the block and putting in a new kitchen, master bath, etc. The amenities to be updated. Nothing major in structural remodeling but completely updating the house to put back on the market. Does any one know if kitchens and baths reap an immediate return on money and time invested?? The remodeling business is fine but I would like to branch out into some new areas does this make sense? With all the costs involved-- time, materials, interest on loan, closing costs, realtor fees, etc ad infinitum does it make sense to buy older homes with no structural defects to 'fix up' and put back on the market? Anyone with knowledge or advice would be welcome.