Starting your own fix and flip business is an exciting yet daunting process and it can feel overwhelming sometimes. At Trust Deed Capital, we want to make sure that your fix and flip business succeeds and makes incredible profits. So, here are four tips, gleaned from the helpful advice of professional house flipper Justin Williams, to ensure a smooth start to your fix and flip project.
It does not matter whether you are getting ready for your 20th flip or your first, there is always new information to learn about the business. Thankfully, there are plenty of resources online and in print that help you stay up to date with all of the new techniques and trends in house flipping. These are five of our favorite resources that you can use to expand your knowledge.
With the rise of such networks as HGTV and the DIY Network, there now seems to be an overabundance of shows that show the "fix and flip" process -- and while some get the process down pat, there are many more that are completely off-base.
Fixing and flipping a home is a wonderful career for someone who is prepared to do the work and spend the time making it into a business. It takes a lot of planning, preparing, and learning to achieve success. There are a few strategies that, if you apply them from the beginning, will help you get to your goal faster and with less hassle.
If you've ever bought a distressed property or really any property for that matter, you probably already know the obvious signs of costly repairs. Sloping floors, water damage in ceilings and old electrical panels are all easy to see problems that might mean big money to fix.
It's important to set goals in life and in your real estate investment career. If you don't have goals you could become lazy and unproductive. Achieving your goals gives you a boost of confidence as well as the physical benefits you receive from accomplishing what you set out to do. So, how do you meet your real estate investment goals in 2017?
There are innumerable individuals that have made a fortune by buying and selling real estate. It is literally the type of thing that has made some of the lucky ones overnight millionaires. House flipping has gained huge popularity recently due to this potential for success. There is even a myriad of television shows that follow investor's experiences from finding a suitable property through the renovation process, and finally the flip. It's exciting to watch, and they claim that just about anyone can do it. If you're thinking about jumping into the fix and flip world, however, you need to understand these three hard truths about house flipping as a career.
According to California resident expert Ray Calnan, Assistant professor of Real Estate and Business Law at Cal State Northridge, on the website, WalletHub.com, when contemplating flipping a house:
When fixing and flipping a property, you must make every dollar count. It is crucial that renovations contribute to achieving a sizeable gross profit. To make successful renovations, determining whether you will rent or sell to families or singles is an important step. When flipping single-friendly dwellings, here are four factors worth your consideration.
The kitchen is the heart of the home for many families. Families gather there nightly for meals, it is often the center of many house parties, and may also serve as a place for children of all ages to do homework. As you flip your property focus on these three ways to add the most value to your kitchen. They are appealing to potential buyers with a keen eye and friendly to your bottom line.