We’ve all heard about the House Flips — it’s on TV and has dedicated shows to Flipping Houses for funds… BUT what if you were to flip a house to start your down-payment on your future Self Storage Facility? Our goal is to take the essentials of flipping houses and use those strategies to reach your end goal: Self Storage!
House flipping is, essentially, buying a house or property with the intent to sell it for a profit. But the logistics can get pretty complicated. There are a lot of decisions to make from the beginning. Where should you buy? If you purchase a house in an up-and-coming neighborhood, you’re banking on the neighborhood increasing in value. If you decide to buy in a new development, you’ll want to attract higher-end home buyers who want the luxury features and space offered in the suburbs. If all goes well, you could make a nice profit. But if something goes wrong — faulty budgeting, timing issues, a crime spike in that up-and-coming neighborhood — you could be stuck with a house you can’t get rid of.
So why do people flip houses? And what does the average buyer — and seller — need to know about flipping before investing? How much money can be made by flipping a house? And what kind of moral line do you walk by paying bottom dollar to people who have lost their homes? We’ll address all of these issues as we investigate the art of house flipping.
We cover things like:
How to Find Discount Properties
The first step to flipping a house is finding a discount property. The goal is to buy low and sell high and keep repair costs to a minimum. Fortunately you can find bargain properties in just about every town and city in the U.S.
How to Get Funding for Your Flip
If you do not have a lot of start up capital to work with, you can still get into flipping houses. You can access to funding to flip houses so that you use only a fraction of your own money
What Repairs to Make to Maximize Profits
Ktichen, Bathrooms, flooring, paint, landscaping — and bigger ticket items that have to be address. Foundations?? that’s a whole different ballgame!
Understand that flipping houses isn’t for everyone. There is risk in real estate, but explained you can minimize risk and the benefits of flipping houses are extremely rewarding.
There are three strategies to be successful! Do you know them??
Learn from our mistakes and don’t become the Flipping Failures… the idea is to make money!