How can you find houses to flip as an amateur flipper? Brooks Mini Storage has created a beginner’s guide to house flipping that can connect you with resources to jumpstart your project. Learn what you should and should not look for in real estate, and get set up with additional space to handle your renovations with nearby self storage!
When you flip a house, you are creating a future home for someone. Beyond the house itself, what factors is your ideal buyer looking at when they are considering a home? If you plan to sell a 4-bedroom house to a family, it would benefit you to search in an area with a good school district and low crime rates. If you are fixing up a house that you might sell as a starter home or to young, working professionals, then proximity to public transportation or downtown might rank higher on your list of things to look for in a neighborhood.
In all cases, cost of living will be a main component when looking for a house to flip. It affects what you will pay for the house initially and how much you will be able to sell it for. Start your neighborhood research by using New Silver Lending’s state-by-state guide to house flipping!
The smart place to start is linking with a real estate agent in your area who specializes in flipping houses. They can be an excellent resource with their knowledge of the area and industry. You should also keep your eye on auction houses near you for foreclosures and affordable homes. You never know where you will find your diamond in the rough.
Use online real estate marketplaces to broaden your search and keep track of properties you are considering. Zillow is a popular marketplace, and it includes tools and expert advice to assist in any real estate journey. The Foreclosure Center and Home Sellers Guide are just two helpful pages for house flippers. Explore for yourself to find real estate opportunities across the country!
The tricky part of house flipping is balancing your budget between the initial cost of the house and the cost of the renovations. In order to stay on budget, make sure you are not taking on projects that will require more expertise, money, and/or time than your team can give. If you would need to hire professionals or replace large areas of the house, it might be best to move on to another house. Steer clear of these issues when you are searching for houses:
Hopefully this guide will start you off on the right foot as you begin the real estate search. Let Brooks Mini Storage be a resource to you if you plan on flipping houses in Kinston, NC. By renting nearby self storage, you have extra space to organize and manage your renovations and keep up with changing deadlines. Rent or reserve your storage unit online with us today!