by Paula Neal Mooney
I was inspired recently watching an episode of Flip This House.
A brotha spent about $865,000 to buy a house, spent $60,000 to fix it up, then got it appraised for $1.03 million.
That's a $110,000 or higher profit for him for about two months of work, if it sells for $1.03 million or above.
So say your house is in need of kitchen work, bathroom work, new carpeting, etc...
Say you've just come into a good sum of money...
It would behoove you to invest a good portion of that money in your home...
If the house next door sold for $280,000 -- fix your home up so that it will sell for at least $300,000...
And even if you have an outstanding $100,000 mortgage on your home, you'd still clear around $200,000...
That's a lot more of an inheritance to leave for your children and grandchildren that if you'd left that $100,000 earning 4% sitting in a money market fund, for example.
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