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3 Tips for Successful House Flipping

House flippingHouse flipping has become increasingly more popular over the past few years. Thanks to home renovation programs that show the potential profits house flippers can earn, more and more real estate investors are jumping in. But being successful with house flipping takes a lot more business savvy than most people realize. So before you buy your first house to flip, keep these three important tips in mind.

1. Do your market research before you buy a house.

Just because a house is priced very low doesn’t mean it’s a good investment. You want to buy a house in an area where houses are selling quickly. Therefore, research home sales trends in various areas. Find out what the average home sales price is in each area and how long houses typically sit on the market. Make sure the area is attractive to home buyers. Buying a home in a neighborhood that is mostly rental properties may not be appealing to potential home buyers.

2. Know the exact renovation costs.

When looking at potential properties to flip, come with a notebook, pencil, and tape measure. Write down in detail what renovations you plan to do in each room. Don’t rely on your memory. Take photos if necessary (ask your Realtor if taking photos is allowed, especially if the home is currently occupied). Measure rooms so you can accurately figure costs for things like paint and flooring. Then, before you make an offer, talk with contractors or suppliers to find out the exact costs of your materials and labor. Don’t guess! If you guess, chances are high that you will significantly underprice the renovations and then get a surprise bill later.

3. Hire professionals as needed.house flipping design

In house flipping, time is money. While it’s great to think you can do many of the renovations yourself, be realistic about your abilities and time commitments. If you’ve never installed a new kitchen before, now might not be the best time to start. However, if you’re adept at painting, then by all means do the work yourself. Know your true capabilities. If you attempt something you’re not familiar with, it may end up taking way longer than needed (and cost a lot more money in the long run). It’s best to hire the professionals you need in the beginning so the job can proceed on schedule and be done correctly the first time.

House flipping is certainly a great way to earn profits as a real estate investor. Just remember it’s not always as glamorous as television portrays it. It’s a true business that requires diligence, research, and patience. When done right, though, you’ll find there are plenty of profits to be made.

Remember, you can find many great tips for investors, home buyers, and home sellers on our Facebook page. If you’re searching for the perfect investment property to buy, we can help! Contact us today!

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Welcome! We are glad you’re here. We developed this website to give you the most up-to-date Napa Valley real estate listings and the most reliable information for home buyers and sellers.

Not sure where to start? Check out our blog, vlog, and articles for information on buying and selling a home, design and staging tips, and real estate investor information.

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Welcome! We are glad you’re here. We developed this website to give you the most up-to-date Napa Valley real estate listings and the most reliable information for home buyers and sellers.

Not sure where to start? Check out our blog, vlog, and articles for information on buying and selling a home, design and staging tips, and real estate investor information.

Ready to buy? Be sure to browse our current listings.We are eager to show you your next Napa Valley home.

Relocating to the area? Read up on all the great communities that make up Napa Valley.

Is it time to sell your home? Why not have the #1 real estate team represent you?

We’re sure you have questions. And we are here to help. Contact us for information on anything real estate related.

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About Us

Leading the Pujals team are Jerry and Susan Pujals, who is ranked as the #1 Sales Team for California, Coldwell Banker Brokers of the Valley. Jerry, a Senior Broker, and Real Estate Advisor began his career in real estate with Coldwell Banker Brokers of the Valley in 1997. Susan, a seasoned Real Estate Sales Consultant joined the organization in 2008, which established the formation of The Pujals Team.

Having received national recognition for their performance and many local awards, Jerry and Susan are proud to be affiliated with Coldwell Banker Brokers of the Valley, Napa County’s real estate market leader for more than 20 years.[Read more]

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