House Flipping For the Novice Investor
Thinking about house flipping as a means to make some extra money?
The reality is that it can be both profitable and fun at the same time. The nice thing is that it can be at your own pace, such as in your spare time as a source of extra income, or more of a full-time venture as many real estate agents and remodelers (like myself) do.
Before you do anything though, you must first acquaint yourself with the cold, hard business side of flipping real estate, and see if it is in fact, something you think you would like to do.
Talk to a few trusted realtors and remodelers and get their opinions as to the market for flipping houses in your area. Educate yourself and read up on the various aspects of what constitutes a house flipping success story, as well as what could possibly happen in a flipping disaster.
Read up on the following relevant topics for information on ...
House Flipping - What It Is, and Isn't
In house flipping defined, The basic tenents of the flipping industry, and how they might impact your decision to buy your first fixer-upper, foreclosure, etc., are explained.
'Is This House Worth Flipping?'You've found a house you think might be a good one to flip, but in your mind, you're still not sure. Find out just what it is that determines why some houses sell, and why some don't.
Steer Clear of These Properties
Following in the same vein of what makes an attractive piece of property, you need to be aware of the houses (and neighborhood) that surround your house. You'll find out why I say this when you read properties to avoid for more information.
Knowing Your Comfort Level
Determine how much time you want to devote to something on this level. To make money flipping houses, it takes a lot of commitment to see a project such as this through to successful completion. Paying attention to details is vital, be it financially, physically, and emotionally. Unless you can 'give your all', you may want to look elsewhere to invest your money.
For information please read disciplined real estate investing as it pertains to flipping homes.
Renovate With Care
Be honest with yourself. Don't be afraid to admit your limitations with regard to the ability to do-it-yourself, and do well. If you're really good at painting, then paint the whole house. Save some money. This type of thing will go a long way when determining a positive bottom line.
On the other hand, if you've never tackled something along the lines, for example, installing crown molding, this is probably not the time to 'see what you can do', to save a little money.
You want your property to show well. So, be smart, have reasonable remodeling expectations and hire a professional to do the installing and carpentry because sloppy, amateurish work is readily apparent to anyone with a a pair of eyes, especially if those eyes are eager to buy. Keep in mind that such work will naturally lead the prospective buyer to question the rest of the work performed during renovation. And with that, you've just lost a possible sale. Don't skimp and cut corners. If you have to, hire a general contractor to do the work, or oversee the job yourself.
Sell Smart
Okay, you've done the work, now it's time to sell the house. Do you tackle it yourself, or hire a real estate agent to sell it for you? Read selling your house to determine what your needs and capabilities as it applies to house flipping and where that might lead you when you put your house on the market.
House Flipping Helper's Blog Excellent house flipping information with emphasis on what you do after you acquire your property, and how you go about making it profitable.
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About Me Brief work biography of the author of the House Flipping Helper.com
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House Flipping Defined Buy low, sellhigh is the mandate of house flipping defined
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Disciplined Real Estate Investing Knowing your limits in terms of what you can and cannot handle with regard to flipping houses, will help you in your approach to disciplined real estate investing
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Houses That Sell When deciding on a piece of property to flip, get to know your market so that you can determine what it is that makes "houses that sell" so attractive in the first place
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Properties To Avoid When scouting for possible houses to flip, keep a sharp eye out for properties to avoid, that can sometimes be hard to spot
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Reasonable Remodeling Expectations Have reasonable remodeloing expectations in place so as not to spend money on wastefulrenovation that won't help the bottom line on your house flip
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Selling Your House Familiarizing yourself with a few of the basics for selling your house can help you plan ahead in your house flip
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How To Buy Investment Property Rather than relying on other people for locating houses to flip, I decided to learn how to buy investment property for myself.
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Investment Property Resources Complie your personal investment property resources network to help with your investment search
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Selecting A Remodeling Contractor Become informed before selecting a remodeling contractor for your project
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Home Remodeling Cost Help for when you want to estimate the home remodeling cost for your house
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Remodeling Demolition A necessary, but dirty part of your renovation is the demolition relative to your particular rehab focus. Proper tear out methods will ensure a safe and sound process.
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Remodeling Guide Using a remodeling guide will help you to determine your budget, and can help you successfully manage your remodel project
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Potential Remodeling Pitfalls Information and clues regarding hidden remodeling pitfalls that may potentially be too expensive to fix
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Drywall Information Various drywall information regarding related material prices, installation and finish costs, general info, as well as repair help for various wall damage situations
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How To Repair Drywall Basic information on how to repair drywall. Everything involving repairs for cracked plaster, fixing large holes in walls, and small patch jobs
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Securing A Vacant House Securing a vacant house is a priority for the smart flipper
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House Flipping Site Map All the pages within this website are listed here on the House Flipping Site Map
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Contact Us Do you have any questions or concerns? This is the place to address them.
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Related House Flipping Web Sites Various house flipping web sites along with sites related to helping you with your flipping project
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Tile Prices (Labor and Materials) A brief review of overall tile prices, including labor and material for the average remodeling project
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Vinyl Floor Costs Brief analysis for determining vinyl floor costs to help with your remodeling budget
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Carpet Installation Prices An analysis of carpet installation prices for your budgeting needs
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Bathroom Shower Ideas A look at a few modest bathroom shower ideas that fit any remodeling style and budget
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Basic Floor Trim Installation Basic floor trim installation guide using common baseboard and shoe mold woodwork materials
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How To Paint Trim Brief step-by-step instructions on how to paint trim
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Drywall DIY Patch Repair Instructions for easy drywall DIY patch repair
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Priming Drywall Information on priming drywall and why you should follow manufacturers specifications
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