Are you thinking of flipping a house? The perception is quick easy money but that may not be the case. A flipper needs to think about tax consequences, repair costs, selling fees, and unexpected things that come up. But the biggest consideration in the finances of a flip house is what house you pick. Here are some tips in choosing the best flip house.
In part 1 of How to buy a flip house we talked location and how location is crucial in picking a flip house.
In part 2 we mentioned why getting a home inspection is crucial.
3. Have a friend come look- It is easy to get emotional about buying a house. As a Realtor I try to be the voice of reason when I see buyers start to get emotional about the wrong things and overlooking the major things. Bring in a voice of reason and see if they agree with you. You will want to carefully choose your voice of reason because Debbie Downer may not like any house or what you are doing, but that's not the advice you are looking for. You are looking for someone to come see your vision with you or point out things you may not have thought about. It is easy to get excited or only see the positives. Having someone non-emotional reel you back in or confirm your thoughts can be just the help you need.
If you are looking to start investing in real estate give Dawn a call 480-540-8100. Dawn is a licensed real estate agent in WA, OR and AZ. She has helped 100's of people to start investing in real estate. She has also flipped many properties herself. Let her experience and expertise make you money. www.DawnWorkman.com 480-540-8100