Skip to main content

10 things to consider when flipping houses.

Here's a list of 10 things to consider when flipping houses:

  1. Location: Look for properties in desirable neighborhoods with good schools and amenities nearby.

  2. Condition of the property: Consider the condition of the property and the cost of repairs needed to make it livable.

  3. Market conditions: Research the local housing market to identify trends and determine the best time to buy and sell.

  4. Financing: Look into different financing options, such as hard money loans or private money loans, and make sure you have the funds needed to purchase and renovate the property.

  5. Property value: Research the property value and compare it to similar properties in the area to ensure you're getting a good deal.

  6. Potential resale value: Consider the potential resale value of the property after renovations and factor that into your investment decisions.

  7. Property taxes: Be aware of property taxes and how they may impact your profits.

  8. Zoning and permits: Make sure you understand the zoning laws and requirements for the area, and obtain any necessary permits before beginning any renovations.

  9. Contractors: Find reliable and trustworthy contractors to help with the renovation process, and make sure to get a detailed cost estimate before starting any work.

  10. Timing: Timing is crucial when flipping houses, so be prepared to move quickly when you find a good deal and be ready to sell as soon as the renovations are complete.

By considering these factors, you will be able to make informed decisions and increase your chances of success when flipping houses. Remember that flipping houses is not a get rich quick scheme, it requires patience, planning, and a good understanding of the market.

Popular posts from this blog

Globalization, good or bad?

After reading about Globalization today, I couldn't help but think about how during World War II, Coca Cola obtained rationed sugar by selling bottles of Coke to the military. After shipping the bottles to Africa, Europe, and anywhere else GI's were posted, Coke basically positioned itself to become a global brand (intentially or not). The book For God, Country, and Coca-Cola: The Definitive History of the Great American Soft Drink and the Company That Makes It talks about Cokes role during World War II, and provides some interesting background on the company. Now you can have a coke and a smile nearly anywhere on the planet. Is this a positive or negative cultural change? When I was visiting some family abroad, I heard a lot of negative comments regarding Cokes activities in other countries, in the olympics, etc. However I still drink Coke (when I'm not drinking water or Mountain Dew!). I just don't see them as an evil empire, just a company with stock holders and a p...

Flipping Willie Horton

In politics, flipping is everything. No, not flipping as in changing sides, but flipping information or ideas, profiting not from their sale, but their acceptance. Willie Horton is again in the news, why? Well, put simply, the holiday political season has begun, and it ain't snow thats raining down. In 1988, Willie Horton was used to dessimate the Michael Dukakis campaign , you can't easily buy that sort of ammunition. What matters is not necessarily the facts, but how you flip the story and sell it to the viewers.

Hilary Clinton and the YouTube Generation

I love YouTube , and so do millions of others around the world. The concept has been proven time and time again. It's a terrific marketing strategy, for the low price of producing a video. How much would someone pay to have a video potentially viewed by the entire world? But wait, its essentially free? When have we as individuals ever had that type of opportunity? Mix in someone in Hilary's position, a US Senator running for President, and you've now got the power to make a difference in your campaign for less than it costs to have a meeting with your staff. Sen. Hilary Clinton has used YouTube and other such oportunities to talk to the voters. Be it searching for a campaign song or reviewing the song entries , videos give her a direct way to promote indirectly, while entertaining those who watch the video. In her latest video, the Senator and President Bill Clinton are spoofing the last episode of the Sopranos . So not only are we talking about marketing to the fans of...