So many people are write broad topics about flipping houses. I want to give some specific advice about house flipping.
Flipping Houses is a stressful yet highly rewarding buisness. I say buisness because if not treated like one, you can loose alot of money. I treat every aspect of house flipping just like I run any other buisness I’ve operated. I stay focused on the tasks at hand and keep precise records of every transaction.
Enough about that. I sure most flippers take the project seriously. I want to give some simple advice about what houses to flip. I will give more advice in other articles.
Before you buy a home to flip, you need to know your market. Especially the way the housing market is these days. This may not matter to thoughs that have more money than brains and can buy up everything that comes by, but knowing what the average homes sales price is is very important.
Lets say the average sales price is $125,000 within your particular area. This is your price point. If I said stay away from homes that are in the $250,000 and up range, this would be a no brainer. Obviously you don’t want to tie up that much money and would want to stay in the right price point. House flipping is about buying and selling homes quickly for profit. If you plan on holding the property for some time than buy in any price point you want. However to be a successfull, you’ll need to move your investment as quick as posible.
Well here’s where the advice come in. If your price point is 125K, than this also means stay away from $50,000 and 80,000 homes as well. The statistics don’t lie. More homes are going to sell within your average price point. High end homes move slowly and so do low end homes. However the biggest difference is you don’t have as much money on the line. This being said, even a low end home can eat up your profits in carrying costs if it stays on the market to long.
You can get more quick tips and full articles about flipping houses at www.HouseFlipper1972.com. Please visit and leave your quick tip for other flippers to read.