Have you ever seen a house that is broken down, getting fixed and sold at fantastic prices? Well, this can surely be you. If you happen to have quite some time to spare, money in your pockets and are questioning how you can make even more money, then it might be just time to get into house flipping. If you are interested and want to give it a try, acquiring a home to flip, is just a click away. Click here to learn more about available houses for sale in the Orange County area.
Tips on how to begin flipping houses:
- Become acquainted with Real State: The first and most important step is to know the game. Do not involve yourself until you know some of the basics, for example;, Indulge into knowing what the people want (locations, space, amenities). Look for good deals, especially in the renovation phase, research rates for plumbing, electrician, and landscaping. Create an extensive network of potential buyers, even before you buy that plot of land. Last but not least, ensure which fixes earn you the most money. For example, investing in green energies, repainting the house, adding little touches to the new home, might just up the ante and in the end, receive more money for your flipped home.
- Locate a mentor: If you learned the basics and before you dive head-first into this new business, find a mentor. He/she might be a great house flipper you know, it´s best getting him/her to help you. Of course, offering a share of your first profit might be enough of an incentive to get on your side, and tutor you throughout the way.
- Research listing offers: Make sure to go through the various offers in your location and get the best deal possible. To find a home near you, our friends over at Integrated Realty Group are ready to help you in locating the perfect house to flip.
- Make an offer: Select a home of your liking and provide a price for it. Always remember that there are others in the flipping business so that the competition will be present. Also, keep in mind the extra cash about to go in repairments, an overall price and check if you´re going to profit from it.
- Get to work: Now the most fun part begins. Fixing your newly bought home, and transforming it into a comfortable and luxurious space for a family. Now is the time to get your contact list out, and call that constructor, plumber, electrician, to begin the transformation process. A good tip is not to rush, take your time ensuring every fix will be to your liking.
- List the house and sell it: The final and most important step in the list. Here you encounter two options, go solo, or go with a realtor. Going solo definitely, saves you dealer fees, but does not ensure you a fast sale, or even end up having to wait an eternity. Now, choosing a realtor, entails a quick sale, given the fact that they know the market and buyers, overall giving you a more stable choice.
Remember to keep this list in mind, if you plan on venturing into the house flipping business. It might be time-consuming, but the results are worthwhile. Here you can find a video on how house flipping. Happy house flipping!