How to Flip Homes 101
There’s no denying that house flipping has been one of the most popular real estate activities in the United States over the last 9 years especially in Southern California where TV shows like Flip or Flop are filmed.
Although many people want to get started with house flipping, they don’t know what to look for in a property.
Thankfully, in this article, we will share with you 4 simple questions that you can use for successfully finding and flipping your first home.
Ask Yourself These 4 Questions Before Buying A Potential Flip Property
During the process of searching for a home that you would like to flip you should always be looking for a home that’s located in a great area, in sound condition and near awesome schools.
Once you’ve found a potential property that you would like to flip it’s important to always ask yourself these four questions before agreeing to purchase the property:
- What is the property going to cost me?
- What is the cost of rehabilitation and rehabbing the property?
- What is my cost to sell the property?
- What is the end value that the property will be worth?
After asking yourself each of these questions it’s also important to remember that once the home is sold whatever is left over will be your net profit.
If the net profit from a potential flip makes sense then you should go ahead and buy that property, rehab the home, get it sold and get your net profit.
Contact Fred Sed Realty
At the Fred Sed Group we’ve been helping investors for years find the perfect flip homes in Southern California.
To view properties in Southern California that would be excellent for fixing and flipping contact us today by calling (800) 921-9231 or connect with us online