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Five Tips for Flipping Houses

August 5, 2021 by Rachel Gontkovic

Thinking about flipping houses but not sure where to start? Here are some tips to keep in mind as you enter the market:

 

✅ Learn your market – research everything you can about your market including location, what properties cost, what home buyers are looking for, etc.

✅ Understand your finance options – flipping houses can be a significant investment so make sure you plan as much as you can, with some extra cushion for unexpected repairs.

✅ Follow the 70% rule – this rule states investors should pay 70% of the ARV of a property, minus the repairs needed.

✅ Network with potential buyers – networking is so important in any business. To have a successful sale (and successful renovation), network with interested buyers.

✅ Find a mentor – especially if this is your first time flipping houses! A mentor can help you make complicated decisions, work through paperwork, and more.

As always, I’m available for a conversation about flipping houses in this market, including available properties and the ups and downs of doing it now vs waiting. Get in touch today.

Filed Under: Ask the Realtor, For Buyers, For Seller, Home Improvement Tagged With: annapolis real estate, annapolis realtor, buying a home, buying tips, flipping, home buying tips, home improvement, investor, Rachel Frenstos, real estate tips

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