Flip This House. Flip That House.
They sound like commands, but they’re actually different TV shows capitalizing on people’s renewed interest in buying and flipping (fixing up and selling quickly) houses for profit.
Is right for you?
You first need to accept that reality isn’t television. Flipping houses often takes more time than people expect due to demolition and permitting processes in different jurisdictions. Another issue flipping novices encounter is budgets getting blown – unexpected costs are the norm, not the exception, in-home flipping, so any budget you create should have a good buffer (10% or so) built in. Also, don’t forget to take into account the costs of selling the home later!
If you’re still interested in flipping homes, give me a call at 719-233-2208 or send me an email at this address. I’d be happy to share some more things you should consider, including the 70 percent rule…