Flipping homes has become one of the best ways to make a fortune in America. It’s almost impossible to turn on your TV without seeing four or five shows that are explicitly dedicated to this avenue of investment… Especially on HGTV. So what’s the fuss all about? Is flipping house really that amazing? Let’s take a look and see what makes a successful flip and why there is so much buzz.
Tips, Tricks, and Flips
So, you’ve realized that you are going to have to plan this reno/flip out yourself. Time to prioritize! If you were a buyer, what would stand out first? Typically in older homes, there are a few suspects that usually make the list. Out of date appliances, old fixtures, unkempt hedges, cluttered garages, etc. If you have just bought the home then cleaning and renovating will be much easier, however, make sure to get some furniture in there before you begin to show the home.
Break the process up into three parts so that it becomes more manageable; interior, exterior and yard/garage. Start with the interior renovations, then once those are finished you can work on the exterior while the inside is being painted and finished. The exterior will hopefully be a bit easier than the inside renovations, it should be a simple case of cleaning, clearing, and painting.
Finally, the yard and garage can be tackled. These are usually bigger jobs that they appear. While it can be a pricey upgrade if the lawn is old and haggard, why not lay new grass? The visual value of a new lawn is extremely impressive. Combine that with new flowerbeds and maybe some mulch or a rock garden, and you just might have a show home on your hands.
Take care of the tired interior of the garage. Clean that sucker right out. Then, maybe install a garage organizing system for the new owners of the home. These are useful storage options that usually feature full wall panels with an endless number of configurations. These panels also make the garage look brand new, which is the point behind flipping a house. All it takes is a good eye for what needs to be done, and a bit of time and money. That being said, the asking price will reflect the new improvements drastically.
See Why It’s So Flipping Amazing?
Flipping houses can be a great way to make money while having fun during the renovations. It’s important to remember to not take on projects that are bigger than you can handle. Calculate your finances and get a good team on board with you to help you out. It can make things easier for yourself and it frees up your time so that you can focus on other things.
If done correctly, flipping houses is a great source of income and you’ll feel like the next star on your own HGTV show.