In our last blog, we talked about a couple of things to consider when you buy a house to flip. We talked about how buying the cheapest houses isn’t always the smartest option and how you should never pay too much up front. We have just a few more tips to help you to make money when flipping your investment property:
- Make a good timeline – In the world of house flipping, time is money. The faster you can flip your home, the more money you are likely to make. Plan out a timeline for all of the renovations and repairs you plan to make. A good timeline will help you to stay on track unlike anything else. Work on your house from top to bottom, and start with the biggest projects on your list first.
- Focus on bathrooms and the kitchen – Projects that bump up your home’s value the most are the bathrooms and kitchen, so they are the rooms that you should put a lot of focus into. Homes with remodeled kitchens and bathrooms tend to sell faster and for a higher price.
- Make a great first impression – The first thing potential buyers will see about your home is the front yard and entryway. Curb appeal is a very important part of selling a home. Your home has to be inviting enough for people to come inside and see all of the updates you’ve made! Give the outside of the home a fresh coat of paint, doll up the entryway and hire a professional landscaper to make the yard look amazing.
Are you ready to start flipping your first home? If so, contact us today to get your free consultation!