How do you find houses to flip as a beginner? The process of buying fixer-upper homes to resell, known as house flipping, has gained popularity in recent years thanks to design and home improvement television shows. It comes with big risks, but it can lead to big rewards if you are willing to put in a lot of hard work. If you are someone who is feeling inspired to give house flipping a try for yourself, follow Mini-Maxi Storage’s tips below to start searching for your potential fixer-upper!
How do you know if you are currently looking in the right market to successfully flip houses? You want to consider factors like cost of living and the appeal of the neighborhood to a home buyer. Especially if you are looking to flip a larger house, you need to consider your buyer’s full family needs. Look for good schools, accessible public transportation, and low crime rates. After all, you can change the look of your home, but you cannot change its neighborhood.
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. In addition to well-known online real estate marketplaces, search local auctions for foreclosures. You can find some gems, but beware that you will generally need to pay for auction houses with cash. Another option is to enlist the help of a professional by working with a real estate agent who specializes in house flipping. Take advantage of their assistance and wealth of knowledge, so you can focus on your home remodel!
Staying strict on your budget means that you need to be able to identify which renovation tasks will eat away at your funds the most. Some projects simply are not worth the time and frustration if you do not have the expertise or capabilities to take them on with your own resources. This can include:
As this idea comes into fruition and you find a house to flip, look to Mini-Maxi Storage to help you stay organized. Our storage facility is a secure and trusted source of self storage for Tampa, FL, businesses and residents. You can leave furniture and equipment packed away with us as you are working through your home renovations and organize items for home staging when it comes time for open houses. Our month-by-month leases assure you have affordable means of storage when you are already working with a tight budget. We are happy to help you every step of the way. See our available storage units near you in Tampa, FL!
About the Author: Paige is the Reputation Manager at Storage Asset Management in York, PA. She is a self storage industry specialist with an appreciation for a good self storage pun. During her downtime, Paige enjoys weight training, kayaking, and losing herself in the pages of a captivating book.