subject: 5 Tips For Wholesaling Houses [print this page] Nowadays, more and more people are interested to get into wholesaling houses. Wholesaling houses has proved to be a very profitable business despite the crises that the economy faces today. However, many have also lost a big amount of money. In this article, we will share with you tips to help you succeed with wholesaling houses. Do not get too attached. Some investors make the mistake of getting themselves too attached to the properties that they want to sell. Keep in mind that wholesaling houses is purely business. If the numbers fail to work, you can always proceed to the next property to give it another try. The common mistake among investors is that they get too attached to the property that they sell it at a high price. What happens is that they end up holding on to the house longer than expected and thus, reducing profitability. First impressions last. More than just the interior of the house, paying attention to the exterior of the house is also as important. You cannot always show off all the upgrades inside the house if your exterior does not seem to leave an impression. You do not always need to spend too much on the exterior. Repainting gates, a little landscaping and a major cleanup should be enough to keep everything pleasant-looking. Do not favor your personal taste. Favoring your personal taste is a big no-no when wholesaling houses. Your house needs to be attractive to the general market and not to you. You should be able to define who your target buyers and what preferences they favor. Keep in mind that color is a very important aspect when wholesaling houses. Beginners are always advised to stick to neutral colors for carpeting and repainting. Keep your kitchen and bathrooms attractive. The two most noticeable rooms in the house are your kitchen and bathroom. Keeping these rooms pleasant will increase the price of the property. If the bathroom and the kitchen look clean, updated and sleek, the house is more likely to sell faster and at a higher profit. Time is money. In wholesaling houses, time is money. After listing down all the necessary renovations, the next thing that you do is come up with a timeline. Timelines are very important because they will let contractors know when the next group of workers need to focus on a specific part of the house. Generally, the rule of thumb us to work from top to bottom. Tackling the bigger projects first always do wonders. Wholesaling houses may be the right gig for you. For more tips on wholesaling houses and real estate investing, go to www.rehab-real-estate.com.
