Keller Williams Realty
Doreen Corriveau, Keller Williams Realty
Email: [email protected]

How To Profit When Flipping Houses

by Doreen Corriveau 08/11/2019

Many people are joining the home flipping frenzy. Whether you are working on making a profit or just plain bored and wanted to make a quick buck, it was the field to be, but that is not always the case. 

People have forgotten the fact that when they flip houses, they are spending money, time, and effort. It is not in any way just focused on making a quick buck, and for some, it even means making some losses.

Maybe it is all part of the business, or perhaps it is all part of life, the only sure thing is the reality that people are not always as smart as they would like to believe. 

With that, if you are looking to "make a quick buck," flipping houses is not for you. If you want to make a career out of hard work and make sure you earn enough money for your efforts, the following are the best ways to ensure making a profit when flipping houses.

If you are just starting out, take smaller risks. No matter how people would say that a neighborhood is up and coming or a building as so much potential, it should be you and your budget which should do the talking. Taking smaller risks can mean any of the following:

- Buying a house with fewer changes that need to get done;

- Getting any home inspected before making a purchase;

- Knowing what you want to do with the house before you commit; and

- Spending less than 20% of your budget towards building the house more “habitable.”

Do not buy a house that is a former crack den or one that has pipe problems or gas issues; you may end up losing more money than making them. These places are right as investments for developers who would tear the whole house apart and start anew.

Always time your purchases. The economy goes up and down, and real estate is always fluctuating. If you want to make a profit, buy when the economy is down and make a sale when the real estate market is booming.

Now that you know how to do things the right way, it is easier to make sure that you make the right profit. If you would like to join forces with a professional, you can always do so. Contact a real estate agent today for some quick tips on how you can make the right purchase or that ultimate sale.

About the Author
Author

Doreen Corriveau

When you hear the name ... Doreen Corriveau you may recognize it, many people associate it with her incredible smile, her enormous amount of energy and her inspiration to help others, especially when it comes to "home ownership" She understands the significance of finding the right home, after all a home is not just a home - it's a place where families create memories,special ones. In choosing me as you're Realtor, I promise to do my best for you by listening, hearing and acknowledging your concerns; I will be accountable; I will always keep an open line of communications going during the transaction; We need to be honest, patient and sincere with each other. I am a Professional Realtor who is committed and successful and will work my very best for you.