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House Flipping and Investment Guidelines

by | Oct 17, 2016 | Brokers, Clients

By Heather Roberts

property investmentWhen it comes to making best use of property investment, you can do well by using house flipping. What is house flipping? Essentially, it is the purchase, careful renovation and sale of a property, all in the name of making profit in the process. To pull this off you will need to work on the task with great skill and knowledge of the market and how it operates. This approach will be something you can handle professionally with a good agent or you can go at it alone, but chances are the professional approach will be more useful to you in the long run. Let’s get started with the first tips on our list:

1.    Curb appeal and first impressions

There is a reason why curb appeal is extremely important to selling a home, as the first thing your potential buyers will see will be the outside of your property. They would not be willing to deal with moving house if your house looks unappealing. If this part of the home looks bad, then you will have a hard time making things matter during your sales efforts. A good looking home will almost sell itself if you’re careful, so get to it and you will have a great time in the long run.

2.    Making your colours matter

House flipping requires a different approach to most other jobs, so you will need to put off some of the more garish colours, instead opting for something more generic. Keep colours neutral all around and your home will appeal to more tastes than usual, making it work for a wider variety of potential buyers.

3.    Kitchen and bathroom upgrades

You should be careful when it comes to these two, as they will be around for a long time and that means their upgrades will need to be carefully chosen before flipping. Make sure you keep your upgrades practical as well as aesthetically pleasing.

4.    Ensuring you follow a deadline

You will need to keep in mind you can’t waste too much time before flipping the property. While time will be one extremely important part of the job, you will need to keep in mind that profits are the final goal. Once you figure out the details of maintenance and renovation, set a goal as a timeline and follow it to allow you to make all of your work matter.

5.    Working with contractors

If you want to make the property look amazing, then you will need to cover a lot of bases. Contractors can help you handle the work load in a prompt manner before you have any interested buyers moving in on the property. Once they have that covered, you will be able to deal with all maintenance and renovation that needs doing. It would be secondary for you to handle the more decorative and aesthetic elements of the job. When the moving truck arrives and the clients decide to move in, they will have a great-looking home to call their own.

Heather Roberts is a writer from London, UK, who works with various removals companies. She has great flair for decoration and interior design. She is searching for new challenges and hence often relocates to different places.