Team Two Times

With so many ups and downs, the real estate market can be a dangerous place right now, especially for a first time flipper. There is a lot of money to be made in flipping homes, but it seems to be mostly in the lower income segments. Banks are not interested in owning real estate but they are foreclosing on a record number of houses at this time. This means they need to unload all these properties as soon as possible.

For an experienced flipper, this is a dream time to buy as it means buying directly from the lender at 20-40% below current market value. This means you can potentially buy a house valued at $300k for $200k, put $20-25k into it and list it at $260-280k. After commissions and fees you should still make a nice profit (not as much as we’ve seen in previous years) but enough to keep you coming back.

This info is relevant for first-time home buyers as well. Getting a house below market value is always the goal when purchasing and now you'll have a choice - buy a foreclosure for 20-40% below market value and hire someone to update and/or remodel it (which will mean cash out of pocket) or buy a house from an investor that has already been updated for 5-15% below market value. Buying from an investor will save a lot of headaches and the cost of the remodel is already built into your monthly payments. Either way, for those of you who have waited to buy a house, your wait may be over.

Find some old cabinets (maybe someone in your neighborhood is remodeling and disgarding them, check a yard sale, look online, scan the pennysaver/thrifty nickel/Habitat for Humanity Store) and install them in your garage, shed, workshop or craft room - file cabinets work fine too. This helps organize the tools and miscellaneous supplies that we all have and keeps it from looking cluttered.

The trick is to make sure everything gets put back each time you use it (that's a whole other blog!) If you're feeling really ambitious, make dividers for each drawer or cabinet and label them. You can always make this a 'family' project and deligate these little details.

Who knows? Today the garage...tomorrow the kitchen! Or next year, it's cool.

It's finally here, we've sprung forward and now there is an extra hour of daylight for you to tackle some projects after work. Here are a few ideas to help you make the most of your added daylight:

1. It's March and there is no excuse for having Christmas lights up this late! Get a ladder and take them down, now! You're embarassing your family and pissing off the neighbors.

2. Everybody loves to grill outdoors, so now is a great time to get your outdoors in tip top shape. Whether it's a patio, deck or stoop - clean it up! Eliminate any clutter that gathered during the winter; pressure wash the area to remove dirt and grime; give your grill a good cleaning with some oven cleaner; plant new flowers and spread grass seed. Your guests will be so impressed!

3. Change the batteries in all your smoke detectors. This is a no-brainer that does not require the extra daylight, but important and worth mentioning.

4. Check your weather stripping and replace filters in air conditioning units - things are heating up and you want to do want you can to stay cool and be energy efficient.

5. If you have a spa, it's a great time to empty it and add fresh water.

Daylight savings is a great excuse to be outdoors so take advantage of it!

It's National Craft Month so we thought we'd post some projects that are not necessarily "home improvement" related, but will bring the family together to make accents for the home. It's a great way to add your family's own personality and personal touches into your home decor.

Here's one that will get your creative juices flowing: Get some blank canvases and let your kids go nuts with paints, charcoals, fabrics, rhinestones and whatever! Think of it as family time arts and crafts. You can also go to close-out stores like Ross, Big Lots and Marshall’s to purchase ugly pictures that are already framed and from the clearance shelf. Canvas and frame all-in-one and cheap!

All you have to do is paint a solid color over the print (it doesn't even have to be white) and create your own design. Geometric shapes, lines, patterns and traced objects will probably be the easiest, but once you start making your own designs the creativity will definitely flow. Plus you’ll have a great time while doing a project together.

And we wouldn't be Team 2 Times if we didn't say that it's okay if you hate your first attempt - simply paint over it and start over or buy another cheap, ugly piece!

Who knows? You may discover a budding talent in the family!