How do you find houses to flip as a beginner? The process of buying fixer-upper homes to resell, known as house flipping, has gained popularity in recent years thanks to design and home improvement television shows. It comes with big risks, but it can lead to big rewards if you are willing to put in a lot of hard work. If you are someone who is feeling inspired to give house flipping a try for yourself, follow Storage Depot of Hampton’s tips below to start searching for your potential fixer-upper!
What factors should you consider while determining whether or not you’re looking in the proper market to successfully flip houses? You should think about variables like the cost of living and the appeal of the neighborhood to a house buyer. Consider your buyer’s entire family needs, especially if you want to sell a bigger home. Look for schools that are good, accessible public transportation, and low crime rates. After all, even though you can modify the exterior appearance of your property, you cannot change its neighborhood.
You will still need to find a market that allows you to purchase the house within your pre-renovation budget. The housing market is not easy to navigate nowadays, so research your locations well and reach out to professionals when you get stuck. To get you started, check out New Silver’s state-by-state guide for flipping houses.
Online resources like Zillow are easy to use and understand. Plus, it includes helpful tools—its Foreclosure Center, Home Sellers Guide, and more. Search local auctions for foreclosures on top of well-known internet real estate marketplaces. You may discover some gems, but bear in mind that you will generally need to pay for auction houses in cash. Another alternative is to hire the help of a professional real estate agent who focuses on house flipping. Take advantage of their assistance and experience; concentrate on your home renovation instead!
Staying strict on your budget means that you need to be able to identify which renovation tasks will eat away at your funds the most. Some projects simply are not worth the time and frustration if you do not have the expertise or capabilities to take them on with your own resources. This can include:
Flipping a house is no easy task. When you require that extra space to store furniture, decorations, and renovation materials, contact Storage Depot of Hampton to find an affordable storage solution near you. Our storage facility on Mercury Boulevard offers indoor and drive-up self storage units—all available to rent online! Browse through our available storage units, and use our online tools to determine the best fit for your load. Start storing with Storage Depot of Hampton!
About the Author: Katie Mest is an SEO Specialist at Storage Asset Management in York, PA. She specializes in writing about the self storage industry, including storage tips and helpful resources. Outside of work, Katie enjoys camping, hiking, and exploring the outdoors with her newly adopted Greyhound rescue, Titan.