Home Investment Tips
Dallas Real Estate Investments | HUD Homes | Realty Investors | Rental Property

If you're thinking about flipping a home, you're not alone. HOUSE FLIPPING, the process of buying a home for less than it's worth, quickly making the bare-minimum repairs and selling it for a profit is a worthwhile investment option for many. Buyer beware, however, not everyone is equally successful at the "art" of selling real estate for a profit. We've gathered these tips from the best of the best real estate investors. Enjoy!

Find a Home that needs only cosmetic work. When you're flipping a home you don't want to be bogged down in nasty foundation repairs from structural damage. You want to get in and out of the house quickly--(within a month if possible).

Work with an agent that knows your market. Knowing the market helps you to know a bargain when you see one. Take time to look at as many houses as possible in the area, ask for a market report on the home. Find out how long homes in the area are taking to sell.

Build a team. A great team (an agent, lender, appraiser, attorney, etc) that understands investing will make a novice investor look like a pro. (Flip Tips)

It's also wise to secure a good team of contractors first. Before you start the house flipping process, it's wise to surround yourself with a great team of plumbers, carpet layers, electricians, painters and handymen in the event you don't have these skills yourself. The more work you do in advance, the less time your home flipping renovations will take.

Spend most of your money on kitchens, bathrooms, paint, and landscaping. The most important aspect of your home is the kitchen, bathrooms and curb appeal. Put the bulk of your funds in these areas and you'll have a better chance at making a profitable flip quickly.(Flip Tips)

Budget for surprises. With the small window of time offered in foreclosure sales, you usually can't get in to see the property. You may be left guessing what improvements may be needed, and you might get stuck paying back taxes, mechanic's liens or second mortgages. (ABC News)

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House Flipping Resources

• Flipping Houses for Gold - Article
• Dos & Don'ts of House Flipping - ABC News
• HouseProfits - Tons of House Flipping Info
• Flip That House - TV Show on Discovery Channel

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