Thinking of flipping houses? Not sure where to start?
Check out these 6 steps of flipping houses:
- Find – Finding the right house to flip may take some time. Find a house that has equity and is priced low. When it comes to investing, you make the money when you buy.
- Evaluate – Before purchasing a home, research the location and market, after repair value, cost for repairs, deed restrictions, liens and title issues.
- Fund – The most common ways these deals are financed are with private money and hard money loans.
- Fix –Ideally, you just need to get the house up to par with the rest of the neighborhood. Usually, new flooring, light fixtures, paint, and landscaping will get you there.
- Market – List the house and let others know it is ready for new owners! When it comes to listing with The Realty Firm, rest assured knowing your house is getting viewed by thousands!
- Sell + Profit – Simply put, make that money and move on to the next project!
Flipping a foreclosure? Here is what you need to know.