FLIP YOUR ST CLOUD FLORIDA HOME- QUICK TIPS FOR TURNING FLIPS.
Flipping Homes is making a come back. What investors are looking for are homes which are structurally sound, that need mostly cosmetic repairs. Homes which can be leased, or turned over for a profit. The yield ranges from 30%-80%. With inventories dwindling, and prices rising, some may require more work than others.
The Quick Tip for Turning Flips are:
1) Exterior Paint
2) Interior Paint
3) New Appliances
4) New Flooring
WHAT ST CLOUD HOME INVESTORS TRY TO AVOID ARE:
1) Roof Replacement
2) Electrical Work
3) Foundation Issues
4) Plumbing Replacement
SEASON YOUR INVESTMENT
Seasoning means you allow time to pass before re-listing the property. The mistake most investors make is trying to turn the property over too fast. Most lenders look at the age of the listing, date of sale and many have restrictions on re-sale for 90 days. The quick turn around can come back to bite you inthe form of Comparable Properties or Appraised value when the lowest price sale is the home you bought to flip.
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