House Flip Instructional Vocals
Description
Vocal Characteristics
Language
EnglishVoice Age
Middle Aged (35-54)Accents
North American (General)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
How to get started with house flipping since flipping homes isn't something you can get into overnight. You wanna make sure that you have your finances in order and the right properties in mind. First, number one set a budget, a big financial drain is not having enough money to finance your project. Don't go in conservatively high suggests multiplying your current budget by five times whatever you think is enough probably isn't. Especially if this is your first time. Number two, find the right property. If you don't have a massive budget, look for properties that best fit your current finances, browse through foreclosures, auctions and short sales to see which ones best match up with your budget and renovation ability. Don't hesitate to seek the guidance of a real estate agent who has experience working with house flippers. This agent can help you research comps and price growth projections to find neighborhoods and homes that will give you the best R O I. Number three, make an offer with your financing in line and the right property to take on, you can make an offer. Professional flippers often calculate homes after repair value which is a specific equation to determine its ultimate worth to determine how much to bid. It's ok. If an offer falls through, you can have multiple properties in mind if one doesn't work out. Number four, set a timeline, not all property renovations require the same amount of money, which means they don't require the same amount of time. Either whether it's one month or six, give yourself enough time to make the appropriate repairs and upgrades and factor in time for building inspections. If needed. Number five, hire trusted contractors. Unless you've got the chops to handle repairs and renovations yourself, you'll want to hire reputable tradespeople to do the necessary work. Some contractors have full teams to work on all areas of the home and not all check licenses and references for contractors you want to hire and also make sure that the quotes are in line with your budget and they can meet your timeline. Number six, sell your property after the updates have been made. It's time to put your property up for sale while you could sell it yourself. A real estate agent can help you market the home to the right buyers and widen your reach.