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Flipping Homes: How To Make Sure Your Property Is Ready For The Market

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Do you love flipping homes? If you’re ready to put in the work, there is certainly good money to be made.

Flipping (also called wholesale real estate investing) is a type of real estate investment strategy in which an investor purchases a property not for his own use, but with the intention of selling it for a profit.

How much it costs to flip a house will be different from project to project Most of the properties are older, historic homes (built in the 1920’s or earlier) and in need of lots of love.

Such homes lack many of the features and conveniences that modern buyers want. Some of these items can be quite obvious but others are much more subtle and take an experienced eye to see. Knowing about these items, and planning for them in your rehab budget, can make your project much more appealing when you put it on the market.

Entertainment Area

— Family living areas in older homes were not designed to accommodate big screen TV’s. Plan in your rehab where the big-screen TV will go. It may take moving walls, or it could even take building a family-room addition.

Electrical Outlets

— When figuring out your rehab budget, be sure you include a plan to have enough outlets.

Cable and Wires

— Older houses simply were not wired for cable, the internet, or even phones. Develop a plan for your home to be wired for these items, especially as we move closer and closer to the internet of things.

Increase The Storage

— Older homes often lack closet space. America was just not as prosperous in the 1920’s as it is today. Be sure to look at all closets. If they are small, expand them, and if they do not exist, add them.

Ensuite Baths

— Bathroom and closet space is often much more valuable then bedroom space. If you have money to spend (and you had better), spend it here. Bathroom suites are one thing that will make your house stand out from the rest.

Laundry Area

— No one wants to go downstairs into a dark basement to do laundry. Nor do they want the washer/dryer standing out in the kitchen. Now is the time to move them and make a dedicated space for them.

Sewer Lines

— Allot a budget to fix the sewer line on the front end when dealing with older homes.

Save On Energy

— Homes built in the 1920’s were not built to be energy efficient. Keeping energy costs down is going to be more and more of a concern as buyers become more energy conscious.

Flipping homes is one great type of real investment that is not as easy as it looked on TV. Looking at these most important items beforehand will ensure success when rehabbing.

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About The Author
Sanjeev Advani

• Hundreds of Investment Real Estate transactions successfully closed • 350+ Units currently under Property Management • 3+ Years of Construction Management Experience • Certified Property Manager, CCIM (In Progress) • Bachelors in Finance • Bakersfield, CA Native Deep Dive: I have been licensed in real estate for almost 10 years, and I have been specializing in investment and commercial real estate for the past 6 years. Through the years I have worked with Real Estate Developers, Investors, Average Joes, and many more. I am a Bakersfield native, and my educational background is in Finance. I have just completed the CPM (Certified Property Manager) certification which is one of the most prestigious designations in the Property Management Industry, with less than 1800 members world wide. I am also the President of the Board for Habitat for Humanity Golden Empire, the Vice President of the Board for Income Property Association of Kern County (IPAK), and Vice Chair of the Commercial Investment committee at the Board of Realtors. I look forward to working with you towards your real estate investment goals. Sunny Advani California Agent Lic# 01869863 | California Broker Lic# 02012941 Email: Sunny@RE-Synergy.com | Phone: +1 661 235 5726