My New Blog

It seems today as we seen on many TV and radio ads that the way to quick cash and early retirement, is by buying home and selling them for a profit, better known as flipping. You can loose as much as you though you were going to gain if you are not careful. I have successfully done quite a few flips and can give you a few tips on things to do and not to do.

The following are a few valuable lessons I have learned along the way that can help you.

1. Track down undervalued properties — keep up with the market, by being one of the first to find out about new listing through our Buyer Auto Notification Program, properties are emailed to you as soon as they hit the market. Also homes that have become stagnant on the market with no activity, many times the seller will be open to a lowball offer. Look for a property with problems that would repel other buyers. Before you snatch up that eye-sore, though, get an inspection and estimates for work you’ll want to do. That will give you a better picture of what you’re getting yourself into.

2. Don’t rebuild Enhance. Your goal isn’t to tear everything down. Think simple — repainting, cleaning, and getting rid of that shag carpeting. Restain the kitchen cabinets instead of buying new. Add custom window treatments or crown molding instead of replacing all the windows. For larger projects, look for changes that will bring the best return on your money, such as adding a fourth bedroom or turning an unfinished attic into a den.

3. Don’t get too attached. Getting emotionally tied to a house makes it hard to stick to a tight budget, which is essential for a profitable flip.

Please call me if you need any advice or have any questions at 281-344-0007 or email at sam@ftrealty.net.

Thanks, Sam