“Flipping” is all the rage in some areas, but especially in today’s cooler market, it is very important to be careful and follow some guidelines to make the most of your purchase. It is important to be prepared for what you’re getting yourself into, and the most important thing to is start with the right property. A recent Realtor Magazine article helps sort out the rules of flipping.
What are the rules to follow to find the right property to fix up or flip? Buy a house at least 30% below market value, so that you have profit left over after spending the money to fix it. Location is still very important– no matter how you fix up the interior, you still can’t change the location. Go for the more popular 3-4 bedroom home, more buyers are looking for this size. These are just some of the tips from the article, check it out for more ways to make your fixer-upper profitable. Take your time to find the right property to flip and call me when you’re ready to start looking for one!
More great resourcs to check out before you start shopping for a home to flip:
TLC’s Flip That House– This site actually has good step-by-step tips to get you through