Rehabbing houses has become a popular way to make money in the past few years. You don’t always need a lot of money of your own to get started. It is possible to go into flipping homes with little to no money with the right investors.
To help you succeed create a checklist to take with you when reviewing homes to flip, this can help keep you from missing something critical. Here are items to consider when making your list:
- Research the market in your area to understand what money can be made.
- Find the right contractor; anyone getting into this business must have a good relationship with a knowledgeable contractor.
- Never show up to a property empty handed. Always bring essential tools like camera, flashlight, tape measure, and calculator.
- Review the exterior for any damages, or things that will need to be fixed.
- Review the interior of the property checking for things that will need repairs.
- Look at the kitchen fixtures and check to see if they work properly or need any repairs.
- Review the HVAC systems, plumbing and electrical work for repairs (if any).
- Examine the door trim that consists of going around and looking at the trim and seeing what needs to be repaired.
- Get the property ready to sell. This is the last but most important step in the process. This takes a lot of work, one could choose to do this by themselves or they could hire a staging company.
Be prepared to do some work before choosing a property to flip. Having a check list will help you not miss something critical that could end up costing you in profits.
Don’t skip any details when you’re rehabbing a house. Use the checklist and get it done profitably! #Ironclad
- 1Know what potential buyers in the area want in terms of fixtures and finishes.
- 2Do not forget to address curb appeal when rehabbing.
- 3Keep a camera handy and take lots of pictures of the property to remind you of the rooms and layouts.