How do you find houses to flip as a beginner? In recent years, the practice of buying fixer-upper properties to resell, commonly known as house flipping, has grown in popularity. It comes with a lot of dangers, but if you’re willing to put in a lot of effort, it may pay off handsomely. If you’re considering putting your own home flipping venture together Defender Self Storage’s suggestions below can help get you started!
What should you consider when deciding whether or not it’s feasible to successfully flip houses in the right market? The cost of living and the attractiveness of the neighborhood to a home buyer are two factors to consider. Take into account your buyer’s entire family requirements, especially if you’re selling a bigger property. Look for neighborhoods with good schools, easy access to public transportation, and low crime rates. Even though you may modify the exterior appearance of your house, you can’t alter its location.
You will still need to find a market that allows you to purchase the house within your pre-renovation budget. The housing market is not easy to navigate nowadays, so research your locations well and reach out to professionals when you get stuck. To get you started, check out New Silver’s state-by-state guide for flipping houses.
Online resources like Zillow are easy to use and understand. Plus, it includes helpful tools—its Foreclosure Center, Home Sellers Guide, and more. On top of well-known internet real estate marketplaces, look for local foreclosure auctions. You may come across some gems, but be aware that you’ll generally need to finance the auction houses in cash. Another choice is to engage the services of a professional real estate agent who focuses on property flipping. Take advantage of their knowledge and experience, and use their tips and experience to help find and complete your project.
Staying on track with your budget means that you must be able to figure out which renovations activities will consume the most of your money. Some projects are not worth the time and aggravation if you do not have the skills or resources to complete them yourself. This might include:
As this idea comes into fruition and you find a house to flip, look to Defender Self Storage to help you stay organized. With two convenient locations in Pennsylvania and Ohio, Defender Self Storage offers all of the storage solutions you might need! Choose from amenities that include temperature-controlled storage units, office space for rent and more! Additionally, for your security, all storage units are housed within a fenced and gated perimeter, with 24 hour security cameras and secure keypad access. Feel secure storing your personal items at Defender Self Storage this year!
About the Author: Tim is an SEO Strategist at Storage Asset Management in York, PA. He is a self-storage industry specialist who has written about everything from storage advice and helpful resources to industry trends. In his free time, Tim enjoys sampling craft beer and exploring the local music scene.