Re/max Innovative Properties
Is it possible to flip houses for profit with no experience? Luckily, this is one area of real estate investment that is viable even for beginners. Here is a simple beginner's guide to house flipping to get you started:
Flipping a house requires more cash up front than with a traditional home purchase. This is because besides things like the down payment, you'll need cash to pay for renovation materials, tools and labor. Many flippers save up money before they begin, but there are also specific loans available for renovations. Research your options and compare lenders to find what works for you.
Fixing and flipping a house is difficult to do on your own. Having at least one other person available to help you with renovation projects, logistics and planning will help your flip go more quickly and more easily. It's also a good idea to find a real estate agent and a licensed contractor to work with you throughout the project, as well.
Just like a traditional home purchase, you'll need to save money for a down payment and whatever type of loan you choose. However, when planning for a flip, it's also crucial to determine your ARV or after resale value. The ARV will tell you the minimum amount you must sell the house for to break even on the project. Obviously, it's ideal to make a profit, but knowing your ARV will help you stay on budget and price accordingly.
Once the renovations are complete, it's time for the payoff. This is where working with your real estate agent comes into play. They can help you list and sell the property efficiently so you don't waste money and time with it on the market. An agent can make sure you list at the right price and handle showings with potential buyers. This will give you the best chance at a profit for all of your hard work.
With over 18 years of experience, Jessica is licensed New Hampshire and Massachusetts. A proud member of the National Association of Realtors, Jessica values the highest code of ethics and standards expected of her. As a seller’s agent, she uses the most current market information to properly value the property. In addition, with her experience she is able to assist sellers on the best ways to improve homes so they can solicit the highest offers. Jessica works with a cutting edge marketing & social networking firm to obtain the maximum exposure for all of her listings. Known for her negotiating skills, she has a passion for working with buyers providing knowledge of what to expect & peace of mind throughout the process. In addition to what Jessica provides as a buyers agent, she works closely with a team of experts so it’s a “one stop shop” for all her buyers. In addition to her real estate career, Jessica is also a licensed loan originator in N.H. Combined with her expertise in both real estate, mortgages and finance, Jessica has a full understanding on the home buying and selling process. In today's real estate market it is so important for sellers and buyers to work with an agent who has great skill set and experience.
