How do you find houses to flip as a beginner? The practice of purchasing fixer-upper houses to resell, known as house flipping, has grown in popularity over the last several years owing to design and home renovation television shows. It comes with a lot of risks, but it may produce significant profits if you are willing to put forth a lot of effort. If you’re interested in giving house flipping a go for yourself, follow Storage Depot Douglasville’s recommendations below to get started looking for your potential fixer-upper!
What factors should you consider when determining whether or not you’re looking in the proper market to flip houses profitably? The cost of living and the attractiveness of the neighborhood to a potential home buyer are two important things to think about. Consider your buyer’s entire family requirements, especially if you’re attempting to sell a bigger house. Look for areas with good schools, accessible public transportation, and low crime rates. You can modify the appearance of your property, but you cannot change its location.
You will still need to find a market that allows you to purchase the house within your pre-renovation budget. The housing market is not easy to navigate nowadays, so research your locations well and reach out to professionals when you get stuck. To get you started, check out New Silver’s state-by-state guide for flipping houses.
Online resources like Zillow are easy to use and understand. Plus, it includes helpful tools—its Foreclosure Center, Home Sellers Guide, and more. In addition to well-known online real estate marketplaces, search local auctions for foreclosures. You can find some gems, but beware that you will generally need to pay for auction houses with cash. Another option is to enlist the help of a professional by working with a real estate agent who specializes in house flipping. Take advantage of their assistance and wealth of knowledge, so you can focus on your home remodel!
Sticking to a tight financial budget means that you must be able to identify which renovations expenses will drain your cash the fastest. Some projects are just not worth the time and aggravation if you don’t have the know-how or resources to undertake them on your own. This can include:
As this idea comes into fruition and you find a house to flip, look to Storage Depot of Douglasville to help you stay organized. Located west of Atlanta, this brand new storage facility is your first choice for affordable storage units in Douglasville, GA. Choose from a variety of storage amenities, including convenient drive-up storage units, parking spaces for personal vehicles, commercial space for rent and more! Additionally, for your security, all storage units are housed within a gated and fenced perimeter. Feel secure storing your personal items at Storage Depot of Douglasville this year!
About the Author: Paige is a Social Media Coordinator at Storage Asset Management in York, PA. She brings the most useful storage tips and tricks to your social media feed and loves a good self-storage pun. Beyond work, Paige spends her free time traveling extensively, her most recent trip being the Andes Mountain region of Bolivia.