subject: House Flipping Tips For Veteran Real Estate Rehabbers [print this page] Even veteran real estate rehabbers have something to learn; they always do. House flipping after all is never a permanent science. It evolves and changes although the concept of buying and repairing an undervalued property stays the same. For veterans who already know these tips, consider them instead as simple reminders.
Dont forget the mailbox. In the age of email, instant messages, and Facebook, its a wonder if people still send the conventional mails, or snail mails. It also questions the need for the mailbox. However, this little piece is crucial to building a beautiful faade. Thats because the image of a mailbox has been programmed deep within the subconscious of Americans. So when theyre buying a house, they imagine it with nicely painted thats complete with lush lawn and a simple mailbox. Its a small detail when flipping houses but it works wonders.
Keep before and after photos. When house flipping, you sometimes wonder what a property looked like after you rehabbed it. Keeping before and after photos will solve this dilemma. But thats not their only use. When youre borrowing money from private or hard money lenders, you sometimes would need a credibility kit. Basically, its a set of documents that prove you are credible and that you know what you are doing. What better way to show that you indeed know about flipping houses that showing them before and after pictures of your projects.
Take advantage of nosy neighbors. Sometimes you just cant stop nosy neighbors from checking out what youre doing in the property beside their house. They sometimes disrupt repairs and take a few minutes off your schedule. Well, when this happens to you while house flipping, you must simply take advantage of it. Give them your business card and ask them if they know people who want to buy houses in that area. You can never tell. They might have relatives who want to move closer to those neighbors. They might also know people who want to sell their homes.
Its not your home. You want a project to look as good if not better than your own home. But remember, the property you are upgrading is not your own. Therefore, keep your personal preferences in check. Make sure you implement universally accepted repairs; not those that you actual prefer personally. You are not the buyer of that property.
