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What Should You Look for in a Potential House Flip?

space-and-company-house-flipBY JACKIE DABROWSKI (www.jd.searchphillylistings.com)
 

Location Location Location!

Pick a neighborhood where YOU would want to live. Look for areas with rising real estate sales, employment growth, and other indications up an upswing in the market.

 

Sound Condition.

You want a house that is structurally sound! You need to be knowledgeable about the building, electric, and plumbing to determine if the home is structurally sound. Know what to look for and if you don’t, BRING SOMEONE WHO DOES!

 

The Right Fixes.

Old carpet and wall paper or a bad paint job are easy, cheap updates. Replacing kitchens and bathrooms are another story! Be cautious of mold, a bad roof or old electric…these require both time and cash. Know which home improvements are in your budget, and how much they will increase the selling price of the house.
 

Analyze the Kitchen.

This is the most important part of the house. House flipping experts say to remodel the kitchen before any bathrooms. Figure our how much you would have to spend to make the kitchen appealing for future buyers.
 

Value!

If you want to actually make money, MAKE SURE THE HOME IS BELOW MARKET VALUE! Buy the worst house in the best neighborhood! These are the houses that will go up in value

 
Good luck and Happy Flipping

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