Thinking of flipping houses? Not sure where to start?
Here is the breakdown! I love remodeling homes and it’s a great way to create a custom space that checks everything off your dream list.
Check out these 6 steps of flipping houses:
1. Find the right place.
Finding the right house to flip may take some time and you need a critical eye. Is this a good investment? Is it possible to renovate the home and create the changes you want? Find a house that has equity and is priced low. When it comes to investing, you make the money when you buy.
Before purchasing a home, research the location and market, after repair value, cost for repairs, deed restrictions, liens and title issues. There’s nothing worse than getting into something that isn’t ideal and will cause issues.
The most common ways these deals are financed are with private money and hard money loans. What do you have on hand to finance the deal?
Ideally, you just need to get the house up to par with the rest of the neighborhood. Usually, new flooring, light fixtures, paint, and landscaping will get you there. It pays to know what will work for the house itself but also the neighborhood.
List the house and let others know it is ready for new owners! When it comes to listing, you want to showcase all the hard work you have done. By listing with me, you can rest assured knowing your house is getting viewed by thousands!
6. Sell + Profit
Simply put, make that money and move on to the next project!