Fluffing
Been doing some research into an area of rehabbing that is becoming stylish (at least where I live).
Anyone "fluff", and if so how have you done, what specific strategies have worked and what hasnt?
I think this could be a great way to expand a rehabbers scope, and make some great cash.
I better not go into a ton of details, you know course writers would love to know what I am talking about..lol
Define "fluffing" please
Depends on what you mean Fluffing
When I "Fluff" it is an improvement on the property that increases it's asthetic look but not its value per se'.
It means to me: make the property look a little more "costly cosmetically" without actually adding costly improvements to the overall property.
IE: current popular color scheme, marble "look" tile or countertop.......mostly Trendy looks at a fraction of the cost. Go to the BIG HIGH DOLLAR new constructions and your home Depot expo for these "ideas" and work within your budget. That is fluffing to me.......
Dreamin,
You are just about there, but in this case, at least where I live, there are areas that can be fluffed and the costs can be recouped and more.
But yeah, the high end descript is correct.
There are a few select people I rub elbows with here that fluff vs rehab, and do quite well with it.
I was curious if anyone else had experienced this.
what do you mean by "Fluff"? just adding stainless steel appliances and granite countertops........that sort of thing?
that definition totally depends on the work to be done. some things you cant fluff and some you can.
I am guessing some people may be technically using "fluffing" to hide defects. I hope I am off the ballpark on this.
I have a pet peeve about that kind of real estate business practice.
Unfortunately my experience with seeing that is that is really common.
Fortunately working with my father for all those summers and finding out how people cheated buyers by hiding known defects gives me an edge. I can not tell you how many people I have been able to show that someone did that to their property. It is very sad.
My Fluffing never cheats anyone but it does make mine more appealing that the one down the street who will sit on the market longer....that is exactly the same in size and amenties. I will get FMV where they sell under.
I can see where adding things like type of appliances, concrete drives verse a rock one or a storg/workshop, extra room in the attic might be fluffing with recoupe possiblities. Don't necessarily work here, depends on where in town you are, truely you add a jenair to a house two streets over and try to recoupe you lose or it stays on the market too long, High end neighborhoods you have more flex.[ Edited by Dreamin on Date 08/08/2003 ]
What has been working in my neck of the woods is taking a property that is in general fine shape and really stylin it out.
Where it has been great is in hot areas, wanted due to location and great schools etc. The houses are older, but not in rehab shape. Then bringing in those premium features and maybe a change here or there based on past experience (some things you mentioned..like an attic package) and selling it to a premium of the market.
This is definately a niche approach though, it wont work in areas where people dont care about the nicer things, or that the demand isnt there.
But the upside is that you can take a property bought near FMV and still make a nice profit.
Whatever... but a fresh coat of paint, everything sparkling clean, and tidy landscaping will really turn a sale. I'll say this much in support of "fluff": you should never underestimate the naivete of most buyers. Shiny fancy things will make most buyers look right past some major deficiencies. Not that I do this sort of thing mind you. I have to live with myself.