How do you find houses to flip for your first real estate investment? Popular home improvement shows make it look easy; but there is a lot of work that goes into buying and flipping fixer-uppers. If you’re willing to put in the effort and take on some risks, the rewards can be great. Read Stor-in-Dor’s tips on beginning the search for your dream fixer-upper if you’re ready to take on the challenge and get some extra cash in your pocket!
There are a lot of factors to consider when looking for the right market. You want the profit from your house flipping experience to be worth it. Look at factors that buyers really care about, such as the cost-of living and neighborhood appeal, before deciding on any property listings. The reputation of the school district, crime rates, and access to public transportation should all be considered before investing.
It’s also important to define your pre-renovation budget and to find a market that allows you to stay within that budget. The housing market has been tough to navigate lately, but with a little research and some help from professionals, you can get through it. To get started on your journey towards house flipping, we recommend checking out New Silver’s state-by-state guide for flipping houses.
Searching for a house is not easy, but luckily there are plenty of resources at your fingertips. One great website to turn towards is Zillow. It’s user friendly and includes helpful tools, such as their Foreclosure Center, which provides information about currently foreclosed homes in your area. When it’s time to resell your fixer-upper, check out their Home Sellers Guide. You can also look at nearby auctions for foreclosures where you can find some gems without having to pay full price! Just beware – you often have to pay for foreclosures in cash. You may want to consider seeking the help of a professional real estate agent. They can make life easier on you by helping with buying properties as well as marketing them once they’re ready to sell (and at top dollar).
Staying within your budget means identifying which renovation tasks will consume the most of your funds. Some projects just aren’t worth doing if they require more expertise or capabilities than what you have available. We recommend avoiding investing in homes that are in need of renovations like:
We know it can be overwhelming when you’re learning how to find houses to flip, especially if you’re on a tight budget. We offer secure and affordable self storage in Wausau, WI. Our month-by-month leases make it easy for property investors to utilize extra space during renovations for as brief or as long as is needed!
You never know what might turn up in a fixer-upper. Stay organized and pack it all away in our climate-controlled smart storage units in Wausau, WI. Stage your home without the clutter! Stor-in-Dor offers peace of mind knowing your belongings are safe while you’re working hard on your house flip. View our available storage units in Wausau, WI and rent online today.