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5 Things to Look for When Flipping an Older Home

Posted by Ken Meyer on Tue, Jul 03, 2018

California flippers planning what they do with this old homeOlder homes are the perfect target for your fix and flip efforts. They often look, at first glance, like they require too much effort for a new homeowner, especially one who needs to move fast; but often, they have strong bones that makes them well worth the investment if you have time to fix them up. If you're considering an older home for your next flip, make sure you're considering these key elements.

#1: Check Out the Neighborhood

What's going on in the neighborhood around your older home? If most of the neighborhood is collapsing or it's filled with older individuals who are unlikely to sell any time soon, you might have trouble updating and flipping the house quickly. If, on the other hand, the home is in an area that's quickly turning around, it's a great time to jump on that investment!

#2: Look at the Wiring

Electrical work can be pricey, and you'll need a specialist to help take care of it. Make sure that the wiring in the home is sound and won't require extensive reworking--or at least that you've considered that key element in your budget.

#3: Evaluate the Dangers

Lead paint and asbestos are two key dangers often found in old homes simply because when they were created, no one understood the dangers of those items. When you're ready to pick up a house to flip, make sure you check for those key dangers so that you can make an informed decision about your purchase.

#4: Check for Water and Insect Damage

Older homes have had plenty of time to collect damages--including damage from water and insects. If you want to be sure that you're getting a home that will fit your fix and flip needs, check for water and insect damage, especially damage that may have been covered up without ever really being fixed. This simple step can save you a lot of heartache in the fixing process!

#5: Poor Energy Efficiency

Older homes are often incredibly inefficient when it comes to energy costs--and that can leave you struggling to make the updates that buyers need. Walk through the home and consider the real cost of energy-efficient updates before making your purchase.


If you've found an older home that meets your requirements and need the funding to help make your fix and flip plans reality, contact us! We'll work with you to ensure that you get a great start on your fixer upper.


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