This is an abbreviated Newsletter due to Hurricane Ian
Thank You to all, for your concern and keeping us in your prayers during Hurricane Ian. We are safe and ok. We had only minimal damage to our home and know we are fortunate. So many homes, businesses, and families have been devastated. As of October 6th, cell service is hit and miss, and internet is pretty much non-existent, so if you get a delayed reply from me, I do apologize. But please let me know if there is anything I can do to help you.
Much love to all of you!
Secrets to Successful House Flipping
If you’re looking to invest in real estate as a house flipper, you have the potential to earn high returns on your investment. However, successfully flipping homes is challenging. When you don’t have experience with this type of investment, there’s a good chance that you’ll make mistakes. Here are some skills and tips that may reduce your mistakes and help you successfully flip homes.
Be Careful When Completing a Sizable Remodel
Taking on a sizable project can be an appealing opportunity. However, large projects also have more points of failure that could lead to substantial losses. Large remodels invariably take up a considerable amount of resources and time. Your contractors may also become frustrated with working on this type of project. Always be careful with sizable remodels. Try to plan everything out before making the investment to reduce the potential for costly mistakes.
Make Sure You Have Enough Funds
If you need to take out a loan to invest in a home, you’ll need around 20-25% of the home’s value for the down payment. Costs can add up quickly when repairing and upgrading a home, so make sure you have a contingency fund on hand to handle unexpected costs
Contact a Professional When Needed
Many house flippers will attempt to perform renovations and repairs on their own to keep costs down. Doing so, however, may result in you cutting corners. The types of projects that you might be able to perform include replacing existing carpet, installing drywall, painting walls, and removing wallpaper.
If you find that you’re taking on a repair or renovation that’s too complicated for you, don’t hesitate to get in touch with a contractor. This option should be less expensive and time-consuming than attempting the renovations on your own.
Prioritize the Most Important Improvements
It’s highly recommended that you prioritize the most important improvements when flipping a home. First, focus on essential repairs. If you miss out on repairing a malfunctioning HVAC system or other appliances, you could lose a sale.
You should also consider performing renovations that match the latest trends. The right changes can add a considerable amount of value to the property.
Flipping a home is never easy. These tips and suggestions should give you some guidance to turn an old and worn-down property into a beautiful home that earns you a nice profit.
QUESTIONS? I am always available to answer your questions and help you with all of your Real Estate needs. I have Real Estate contacts all over the world. Please don’t hesitate to call me if there is anything I can do for you or someone you know.
Sue Jones | Realtor®
3409 Del Prado Blvd S #103,
Cape Coral, FL 33904