Win-Win-Win for Everyone
When it comes to Energy Wise Residential Remodeling, the right thing to do can be very profitable. With some careful consideration, Green hearted Renovators, Investors and Buyers can create a Win-Win-Win Scenario for themselves and others while doing their part to Save the Planet!
The current emphasis on energy conservation and recent housing market developments also provide substantial incentives and rebates making this a great time for Energy Wise House Flipping.
Renovating Right. How, Why and Why Not?
The Challenge: Renovating America’s Existing Residential Housing Stock. Of all the houses that we will live in by 2050, 60% of them are already here. And they are pretty poorly built. (Energy wise) This is our OPPORTUNITY This is our CHALLENGE.
Existing Residential is totally different from New Construction. In new construction, you just change the codes and wait and manage the new building as it comes along. This is in process and has been growing for the last 2 decades. Challenges with Existing Residences:
- Owners are Americans and dont want to be told what they have to do. It’s been that way since at least July 4, 1776!
- Contractors are Americans and also dont like to be told what they have to do.
- “We’ve always done it that way”
- “Cheapest Bid”
- Homeowners budgets are already strained to the max.
The Solution: Renovation of Foreclosed Homes by Energy-Wise Investors (not necessarily Contractors). The current flood of foreclosed homes is a GOLDEN OPPORTUNITY to do significant Energy Renovation to many homes.
Consider the benefits:
- Many homes are available at 33% of what they cost in 2006!
- The surrounding neighborhoods have not taken that great a hit. (Usually only 20 – 40%, depending on the area).
- This loss of equity allows a “spread” between purchase price and selling price after renovation that allows an adequate budget for Energy Renovation.
- As an Energy-Wise Investor, there is no homeowner to sell.
- There is no homeowner budget (which always seems too tight).
- The house is empty during renovation, which provides logistics benefits.
- The Energy Wise Investor just gets to do the highest and best renovation they can conceive of. As long as:
- The project must sell at the end. (unless the investor wants to rent it, which is not a bad strategy) This requires some expertise in: Real Estate Remodeling Home Performance. Providing the “blend” of these 3 disciplines is the purpose of this site.
- No Government Funding or Utility Company assistance needed (This leaves more public monies to address areas where Energy Wise House Flipping will not work.)
- No government mandates to adhere to. (this works well with the American independent and entrepreneurial spirit) (This spirit and the vision of what can be is the main essential for this plan to work. The rest is team building.)
- Becoming an Energy Wise Investor, Renovating Foreclosed Homes may be a great opportunity for someone who has been “downsized. Someone looking to do a great thing for their community and the planet. All the many people working in the emerging Home Performance Industry who would become more practical in their creation & implementation of energy policy if they were to do even one house.
It Takes A Team: Few people have all the expertise needed to be an “Army of One.” And even if they did, their impact would be limited because God only issues us 24 hours each day. By creating a Team, no one has to have all the expertise. And the team can do more than the Army of One anyway.
The typical team members of an Green Renovator include an Energy Wise Realtor, Banker, Escrow Officer, Inspectors, Contractor, Subcontractors, Loan Broker, Home Performance Tester, and you the Investor.
The Energy Wise Investor: A Green investor’s main job and purposes are…
- To maintain the vision and keep the business on track — saving the planet, one house at a time.
- To keep finding the next project.
- To have input and final say about what goes into each project.
- Continual education to ensure that you are truly “Energy Wise” and are really making the best decisions.
As an investor, your options are to do all the work yourself, none of the work yourself or somewhere in the middle. (Do some work if you are qualified, and want to.) My choice has been to do no work with tools, even though I would enjoy it.
Benefits for the Communities & The Planet: It’s a Win-Win scenario for everyone! Homes with full Energy-Wise Renovation as described on this site provide…
- Increased Tax Base
- Raised values in neighborhoods.
- Vacant foreclosed eyesores removed.
- Green Jobs.
- Fewer VOC’s
- Less Greenhouse
Additional Information on Going and Making Green $
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