People love to think about the idea of flipping a house. They’ll dream about it, pencil out plans, watch HGTV, and think that flipping looks like a great way to make some extra money. Today I’d like to talk to you about what to look for in a house that will get you a good return on investment.
First, be aware that location, location, location is the key to a good flip. If you can’t get a good location, you’ll want to be sure you get a good price on the house. Sometimes, a cheap house might better help you meet your goals, and sometimes a more expensive house might be better for you. It all depends on what your goals are.
Location and price are key when flipping a house.
The house in the video above is a perfect example of a house with flipping potential. This is a $500,000 house that I believe could be worth $100,000 to $150,000 more with some upgrades. It’s stuck in the 1970s a bit and needs new carpet and new floor coverings, but the bones and structure of this house are unbelievably valuable, as is the location.
If you have any questions about flipping houses or anything else related to real estate, give me a call or send me an email. I’d be happy to help you!