SAVVY HOUSE FLIPPERS ARE SUPER SLEUTHS.

They look for houses not yet on the market, going straight to an owner, a bank auction or a housing wholesaler for a better deal. But often you can partner up with a good Realtor who specializes in the area in which you are considering investing. He or she knows the market like the backs of their hands and may offer you expertise in exchange for being the listing agent after you pound that final nail.

WHEN READYING A FLIP FOR SALE, THOSE IN THE KNOW ADVISE YOU TO CONCENTRATE ON KITCHENS, BATHROOMS, SYSTEMS, PAINT, AND FLOORING.

Don’t get too fancy. New appliances and fixtures, as well as a bit of discount granite, can go a long way to making a gem out of an ugly duckling. Buyers prefer hard surface flooring to carpeting, but there are so many inexpensive (gorgeous) options to tile and real hardwood. You’ll find buyers focusing how the house makes them feel as well as how their lives fit into it instead of whether the floors are real wood.

LASTLY, SET YOUR EXPECTATIONS REALISTICALLY.

House flipping, in general, is not a get-rich-quick scheme, even if one good sale might pay off all your credit cards. Football games are won ten yards at a time before players do their happy dance in the end zone. The most cost- effective way to flip is to look at tidy profits rather than a fantasy. Steady house flippers stay the course, establishing a reputation for being prudent investors, all of which impresses local residents as well as real estate agents and makes it easier and easier to find financing. Source: TBWS