Comments on: 5 House Flipping Do’s

By: Shannon

Shannon — Mon, 19 Jan 2009 18:49:43 +0000

We’ve found Excel to be very helpful when putting together the numbers for the flip & seeing if they make sense.
Another piece of advice is to not over-personalize when re-doing the cosmetics. I’ve seen people put fixtures & paint colors in flips that only they would like — you need to go with what’s popular/classic to appeal to more buyers.

By: Paul Viau

Paul Viau — Thu, 08 Jan 2009 02:18:12 +0000

With first timers – The key thing is get them to write it down. A plan on paper is worth a bundle when your doing it as a business .

By: Morristown NJ Real Estate

Morristown NJ Real Estate — Tue, 23 Dec 2008 01:45:40 +0000

Great list. I must say, I love flipping homes. I just makes me feel so good seeing what I did to bring a home back to life and hand it off to its new owner.

Happy holidays from Morristown New Jersey

By: Austin Property

Austin Property — Fri, 18 Jul 2008 20:32:27 +0000

It is so important for people to keep these things in mind. Many investor’s first flip is also their last! But others excel with flips and make a good living. It is just not for everyone.

By: Jessica

Jessica — Sun, 29 Jun 2008 04:28:00 +0000

Great list! I really recommend anyone going into flipping have at least minimal experience with various construction trades or a friend or family member that does. One of the biggest problems I faced my first time was the contractors doing the work, playing on my inexperience to benefit them and make more money on the job.

By: Dallas Real Estate Broker

Dallas Real Estate Broker — Thu, 26 Jun 2008 06:04:26 +0000

Great Article! These are the basics steps anyone should follow when purchasing a home for investment or their primary residence (which is also usually one of the largest investment purchases someone makes in their life).

Another good point to mention is to have a strategy for selling home and approximate time frame for carry costs etc built into the equation to ensure expenses are minimized and profit is maximized!

Kenneth Cox – Dallas Broker

By: affordable movers

affordable movers — Tue, 24 Jun 2008 10:53:30 +0000

Planning and planning well is the best advice. And don’t rush into it.. Do research first!

By: Ned Carey

Ned Carey — Tue, 24 Jun 2008 02:16:48 +0000

Good post, I would add “Do budget for the soft costs like: financing, closing costs X2, carrying costs, and selling costs/agents commision” Many new rehabbers don’t figure in these costs until too late and this is what kills their profits.

By: Flipping Houses Pro

Flipping Houses Pro — Tue, 20 May 2008 15:17:04 +0000

First time real estate investors should also take into consideration the length of time homes are on the market. Be sure to include holding costs of the property into your budget and be realistic as homes are on the market longer today than even a year ago.