Anyone have any experience with it?
_Him_ and I have talked about doing this for almost 20 years. It seems an opportunity may have arisen for us to get our proverbial feet in the proverbial door. _He_ has much practical experience – necessity bred that – and I have the insane ability to study and research all sorts of techniques, statistics, tips, tricks, etc.
We shall see – our world has certainly been tipped topsy turvy in the past week or two with all sorts of plans, plots, and lists.
So, if you have any experience with house flipping, real estate investment, or even just home renovation projects – please leave a comment or get in touch with me – I’m a great listener!
No experience house flipping (awful heavy don’t you think?
But the renovation stuff – lots. Too much – never want to do it again. My advice – hire someone! I’m probably not being a lot of help here, but what specifically do you need to know?
My daughter and I flip houses. So far, so good. Rule Number 1: Buy the worst house in a good neighborhood.
Get a realtor to check the history of the house and to find out what other houses are selling for in that neighborhood. You obviously must buy it WAY under what other houses are selling for. Don’t be afraid to low ball your offer. If it is a repo some banks will be eager to sell.
B. Inspect the house carefully! Look for water damage in ceilings. A new roof is expensive. Check fuse box –
is it up to code? Check Plumbing, cracks in wall, foundation – List goes on. If the house has been on the market longer than is average in that neighborhood find out why. Sometimes its simply lack of curb appeal and if you watch HGTV you know how to fix that. MAKE SURE YOU, AS THE NEW OWNER, WILL NOT BE RESPONSIBLE FOR BACK TAXES. Make the sellers prove it to you with receipts. List goes on, but I suspect this e-mail is already too late. Good Luck! Paula Williams
Hello,
I have not flipped houses as of yet just investing in rental property but I have been on site with some friends that flip houses and yes it is a lot of work but just as long as your dedicated and stay focus you can do it. Good luck Paula