One trend in the real estate investment world is to turn old properties into fully-furnished, renovated and gorgeous properties. Buyers appreciate paying extra for properties that already look great and do not require many renovations or repairs. An investor can significantly increase the value of a property by taking some time to do extra work on the home. Choosing the right contractor for a job can be difficult. To ensure that one chooses a reliable and hard-working contractor, here are some tips to remember.

Construction Workers Looking at Roof

1. Don’t fall into the trap of hiring the contractor who offers services for the lowest fees.

Remember the motto that “you get what you pay for.” When you are hiring a contractor, this motto especially rings true. A truly great contractor will not sell his or her services below fair market value. A contractor may be charging very low prices due to the fact that he or she is inexperienced or has no clients.

2. Pay attention to small details that can significantly increase the value of a home.

You should hire a contractor who has a knack for finding small and cost-effective ways to improve the value of the home. A contractor may recommend installing iPod docks throughout the home, which is one very affordable way to modernize and increase the profitability of a home.

3. Find referrals from other real estate investors.

Real estate investors frequently socialize in the same circles. If you are not part of a social circle that features real estate investors, then make an effort to seek out investors in your area. Don’t be shy to ask them for references in regards to contractors. One investor may know of an excellent contractor that offers fair prices and has a reputation for delivering high-quality work. Real estate investors are more than happy to help one another in this regard, and you should not feel afraid or intimidated to ask others for references. You may even be able to gain a few US probate leads by opening the doors to communication with other investors.

4. Stay updated on the progress of a renovation throughout the job.

Make an effort to understand the progress of the project. Take the time to do your own assessments so that you can be aware if a project is running off course.

5. Be clear in your specifications and the price set for the job.

The clearer you are in setting a price and specifying what you want on paper, the more likely a contractor is to actually fulfill your wishes.

By following these tips, you will succeed in finding a contractor who is cut out for your real estate investment project. Securing references is the best way to proceed with this process.

Author Bio

Karleia is a freelance blogger. Away from the office she enjoys spending time with her daughters and husband.

australian-moneyYesterday, I wrote a post on The Importance of Enjoying Life Right Now, and ended up doing some interesting research on the lifestyle of Australia. While the post helps you forget about financial woes, I ended up learning a lot about the country overall.

Today, I thought it would be a great idea to do a follow up post about making money in Australia. Just in case you read yesterday’s post and thought it might be a good idea to move there, this post will help shed some light on the financials of doing so.

While the lifestyle is more relaxed, and people generally love sports and enjoyment, the financials will have you packing your bags, or perhaps not…

High Minimum Wage

In the United States, the minimum wage is $7.25. In Australia, it is $16.88!  So, you’ll be earning a lot more for what you do? Yes and no. While your dollar does go further in Australia, you’re opportunity seems to be just slightly limited in a broader scale.

Comparing Macroeconomics

If you’re working at the minimum wage, you’ll probably want to pack up your bags and move over to Australia. However, at a national level, the US wins almost everywhere else. The US GDP is $15.6 Trillion. While in Australia, the GDP is merely $1.5 Trillion.

Okay, well the US has a larger population. So, no big deal, right? Actually, the US is also has a higher earnings per capita.

Now, let’s bring it back to what really matters to you. If you’re working in Australia and you want to buy a home, can you do it? How long will it take you to pay off a home? And what will your lifestyle be like?

Buying Homes In Australia

Warning: house flippers may not want to read this. There is recent speculation that the housing market in Australia is entering a bubble. With fast increasing home prices, it is a sellers market. If you’re planning on working at the minimum wage in Australia, you might find that you’re having a hard time saving the money you need to pay for a down payment. Furthermore, you may have a difficult time securing a long. And once you do get a loan, you’ll need an advanced home repayment calculator to see how long it will take you to pay it off. The problem is, with prices escalating, you might find that it takes you many years with higher interest rates to pay off your home.

So, while Australia does have a higher life expectancy, at least for now. The current market conditions might be suggesting a lifestyle somewhere warm in the United States. With a lower priced housing market, now might be the time to sell in Australia and buy in the US.

Yes, you’ll get paid more hourly in Australia. But, it really depends on what you do. Do you plan to work on the minimum wage you whole life? Or, are you interested in taking advantage of business opportunities to take control of your own financial situation? If you’re reading this blog, I would think you fall with the latter like myself. I’ll be staying in the United States, but won’t be earning a minimum wage. Will you?

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