Total Flip

This week, we are going to talk about how to find the right houses to flip. Finding houses to flip is arguably the hardest part of flipping houses, go figure. 

An important key to house flipping is a variety of factors that make it a possibility. The very first thing you need to do is find a professional or any experienced person to help you out. This could be an agent, a wholesaler, you could attend networking events like auctions and investment groups. The first thing in looking for the actual house is obviously, it’s best to not look at new houses or houses that are already expensive. You want to get house that are of lower value or undervalued for different reasons. The next thing you need to do is source funding. You can do this in different ways, finding a lender, loans, crowdsourcing, using other people’s money, and saving up your own money. It’s always best to use other people’s money though so you can save your own. 

Usually the houses you flipping are very ugly. If nature has outgrown itself around the house, it is a great indicator because trimming green around houses isn’t relatively expensive compared to other renovations. One thing you don’t want to do is buy a house that was previously renovated, or has unconventional colors or additions. The reason for this is a buyer may not want to do the extra work to fix all this, you want to make repairs to sell the house, not re do the entire home. Another great tip is to research the neighborhood the house is in. Do they have a lot of barking dogs, crime, no sidewalks, or loud neighbors? Because no matter how much you invest in the house, if the neighborhood is questionable, the buy will not purchase it and you will lose your money.