Published: Aug 22, 2013 9:34 AM EDT
Updated: Aug 22, 2013 10:05 AM EDT

(FORT MYERS, Fla.)- WINK’s real estate expert Denny Grimes from Denny Grimes & Co. came to share rules on fixing up real estate. 

Rule 1: When buying to flip, the money is made in the buying, not in the improving

• As we will see in a moment, improvements generally do not add more value than they cost, unless

the homeowner can do the work themselves

• The better bargain you drive when you buy, the more equity spread you have to add

improvements. The improvements will make it easier to sell, but the profitability only comes from

buying it right

• Rule 2: Home improvements rarely add more value than the cost (SLIDE)

• The higher the cost, the more it takes away from profit

• No home improvement adds more than it cost

• Rule 3: The less handy you are, the lower the percentage of improvement

• If it doesn’t look professionally done, the buyer will give you zero credit for the work

• Don’t do work without the required permits

The real value in home improvements are for the value they create for those that live there, not for the ones that don’t

IF YOU HAVE A QUESTION FOR DENNY YOU CAN EMAIL HIM AT DENNY@DENNYGRIMES.COM