Flipping houses has become increasingly popular in the last few years. Many have found success in taking rundown houses, giving them a facelift, and selling them for a huge profit. If you are interested in learning how to flip houses, Rehabs 2 Riches can help! Our founder, Alton Jones, is touring the country and giving expert advice on how you can create your own business flipping homes. Check out our website to see if the Rehabs 2 Riches seminar is coming to a town near you. You can also visit our store to buy our books and classes! Visit us now!
In today’s blogs, we will give you a few tips on what to do if you are considering flipping homes. That being said, if you want more tips and case studies, come see the Rehabs 2 Riches seminar is a town near you!
Location
As the saying goes, “Location, location location.” If you decide you want to start flipping homes, the first thing you need to do is find a house in a good location. Think about it. No matter how nice the house looked on the inside, would you want to buy a home right next to the highway? Of course not! You can put as much sweat and elbow grease as you want into your project, but at the end of the day, if the house isn’t in a nice location, nobody will want to buy it.
A few things you might want to consider when scouting locations include:
- Schools: Many couples choose to find a new home when they are expecting a child. If the house you choose to flip isn’t located in a good school district, you may lose out on numerous potential buyers.
- Safety: Along with good schools, you also want to fix up a home that is located in a safe neighborhood. People want to feel safe in their neighborhoods, so do some research on what neighborhoods are most popular or have low crime rates.
- Friendly families: Families in a nice neighborhood are key. Whether the potential buyers are newlyweds or a couple with a few kids, you will want a neighborhood with a friendly vibe. Potential buyers who already have children might want a neighborhood with kids that their children can play with. Newlyweds may be looking for a nice place for their future children to grow up.
Network
In a previous blog, we talked about the benefits of expanding your network by flipping homes. Yes, your network will most likely increase as you work on more projects, however, before you even begin flipping home, you want to build your house flipping network.
All the experts will tell you that flipping homes cannot be done alone, and they are correct. In order to be successful flipping houses, you need to have a network of people who will have your back. You won’t know everything there is to know about flipping houses, which is why you need specialists to help you out, such as realtors, contractors, plumbers, etc.
Trust Your Instincts
As with any major investment, it’s important to trust your instincts. For example, if you’re looking at a property and your gut is telling you that it’s too good to be true, that probably means that it is. It’s okay to not take every deal that is handed to you. Do your research about the properties that you see and if you find any red flags, listen to what your instincts are telling you and find something better.
Rehabs 2 Riches
These are just a few tips for being successful in the house flipping business. To learn more and get expert advice and case studies, check out Rehabs 2 Riches. Our founder, Alton Jones will provide you with an inside look on the business of house flipping. If you are interested in making a living flipping houses, check out our website to see when Rehabs 2 Riches is coming to a city near you! We hope to see you at our next stop.
