Looking to flip a home?
Keep reading to learn how to save time and money during the process!
How To Save Time (And Money) On Your Next Flip
As the old adage goes, “time is money,” and when it comes to flipping houses, this
sentiment couldn’t be more accurate. If you invest in real estate, then the faster you’re able to sell a property, the faster you can recoup your expenses and (ideally) collect a profit.
Luckily, through careful planning and by keeping some general guidelines in mind, you might be surprised to learn just how fast you can complete your next house flip.
4 Time-Saving Tips To Help You Flip A House ASAP
1. Make A Cash Offer
Purchasing in cash allows you to save time during closing, and you can get started on
renovations much sooner than if you were to take out a loan.
Even better, a motivated seller who wants to move quickly may even be willing to accept a lower offer if you can pay cash; so, in addition to saving time, a cash transaction could also help reduce upfront costs.
2. Have The Property Inspected
While you might be able to purchase the property outright, your own buyer will likely
require financing, which typically means he or she will need the home inspected before you can sell.
Knowing this, one of your top priorities as an investor should be to make sure that any potential buyer you sell to will be satisfied with the results of an inspection. In other words, any potential safety hazards or code violations your inspector finds must be corrected before you sell the home.
Whether you choose to hire an inspector before or after you purchase the property is
entirely up to you— making your offer contingent on the results of an inspection is
helpful for planning out your budget, but doing so will also inevitably delay your closing date for the transaction.
3. Make Minimal Cosmetic Changes
While there’s no denying the power of a clean, sleek aesthetic to attract prospective
buyers and increase a property’s value, it’s worth reiterating the need to prioritize safety concerns and code violations over beautification when flipping a home. As you may have guessed, this means the extent of cosmetic work done on your investment property will depend heavily on how much time and money is leftover in your budget after you’ve made all necessary repairs.
That said, if you find yourself running out of time and money after you’ve made repairs on the home, the best course of action is to apply fresh interior paint in a neutral color and focus on improving curb appeal with easy, affordable projects.
4. Stage Thoughtfully And List
Last, but not least, strategically stage the home with simple furniture and decor. This
will help ensure the property looks its best in your online listing, as well as during
walk through's and open house showings.
You can hire a professional to tastefully stage the home for you, or for a more cost-
efficient approach, sites like The Spruce, House Beautiful, and even Pinterest are
excellent resources for looking up decorating tips.
Find Your Next Investment Property Today With CastleRock
Increase the earnings on your next flip when you purchase one of CastleRock’s
affordably-priced homes for sale. Cash buyers may also qualify for additional discounts and savings.
Contact our friendly team today to learn more!
For more properties check out our website!
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