A vintage velvet chaise seemed like the perfect first attempt at upholstery.   The previous owner had the same intentions but never got around to completing it.  Therefore this wonderful project became my opportunity when the powers that be (Craigslist) landed it on my desktop early Sunday morning several months ago.  With a little bartering with my husband we were off across town in his truck to pick up my new project.

On first inspection it was perfect for my first upholstery project and thought I could get it done over the weekend.  I got right to it, when on my hands and during ripping down I realized that it might be more than I had bargained for.  You see I choose Industrial Arts over Home Ec.   As soon as I ripped old fabric off realized I was dealing with old springs… another skill to add to my list and was trying to figure out how I would recover this huge thing.  It was nothing like the seat covers I can recover in a few minutes.

The bottom of the frame is pretty shaky and needed some new support and the springs needed some serious attention.  I used one of my favorite paint and varnish removers Citrisstrip from Home Depot, to remove the old varnish.  Followed it up with some delegate sanding before I got to putting my project back together.

The final finishing piece took months, 13 to be exact, I moved this thing around the garage and finally done to my office in hopes it would help me get it done faster.  Winder went by and I finally decided this weekend to get it done.

I’m not usually very indecisive but choosing the new fabric for my chaise called for several trips to the fabric store.  I was determined this weekend however to pick one out, put it on and be done with it.  I can now say the chaise is now fully upholstered and is looking great. I love it – but must let it go – any takers?

Investing in a rehab home is an income producing opportunity I pursue in my free time.  It can be a tough job; if you’re interested in learning first you need to understand one question “What makes a good real estate investment?”

The answer isn’t necessarily simple – buy low and sell high.  It’s a simple answer, if you can do this it’s an investment.

Determining what makes a good real estate investment are the factors that allow you to by the home at a lower price and then sell it at a higher price.

One of the best factors in allowing you to buy a home at a lower price is a bad economy.  We’re witnessing this today as people are facing foreclosures and selling their homes as a short sale.

A second factor is condition of the property.  If the home needs a new roof, plumbing, electric, paint, carpet, updated kitchens and bathrooms it’s very possible these items are unattractive and can drive the price of the property down.

Remember though, in order to realize a profit you need to sell it at a high price than your investment.

I usually choose to rehab a home by putting in money through new paint, carpet, and landscaping.  These help me create value in the home many times over the cost of painting, carpeting, or landscaping.  I also suggest working with an agent familiar with proper staging to make your home the most attractive to buyers.

In a real estate market up or down, investing is an exciting and profitable venture if done correctly.  Remember buy low and sell high.