Are fixer-uppers a good deal in today's market?

Dian Hymer has a piece today on Inman News about purchasing fixer homes in a rapidly appreciating market.

"The key to success is being able to walk away from a project that doesn't make sense. If you pay too much going in, you'll make less when you sell unless you skimp on renovations or home prices escalate. Don't be too quick to wrap up a deal. Successful real estate investors often make offers on hundreds of candidate properties before finalizing a purchase."

There's no question that houses in San Francisco have been selling for extraordinary prices lately, and with a little paint and some furniture a seller can make even the biggest fixer can look like it's in move-in condition.

Make sure to do your inspections. There's nothing like having another set of eyes (a professional, too!) to help you assess the fundamentals of the property.

It is still possible to find fixers that can sustain a significant (and costly) remodel. It just takes a good eye, and some patience.