Saturday, October 1, 2016

Phoenix Tips on Flipping Houses for Beginners

Phoenix Tips on Flipping Houses
Phoenix Tips on Flipping Houses
Here at the Matrix, we are seasoned house "flippers" who have "flipped" over thousands of properties collectively , we are often asked about Phoenix tips on flipping houses for beginners. House prices are increasing at a fast pace, and for-sale listings still remain very low. That makes house flipping more profitable than ever today with potentially record returns for savvy investors.

Our first piece of advice is to find a Mentor for your first several deals. This should be somebody who has years of experience in flipping homes in Phoenix. Stay away from the Real Estate Gurus and their "get-rich-quick" seminars. These only drain your pocketbook. A true "Mentor" is flipping homes in Phoenix right now; he's not somebody "coming through".
Phoenix Tips on Flipping Houses
Phoenix Tips on Flipping Houses
Be aware of the three golden rules of real estate: "location, location, location." When seeking house flipping properties, keep your eye open for "ugly" houses; disheveled or needing work and upgrades. When making offers on homes to flip, you need to think about renovation and holding costs. Calculate what you can spend on both the house and the work to fix it; right down to the last nickel, and consider how much risk you are willing to take. If the math doesn't work, find another flip project. There are plenty out there.
Phoenix Tips on Flipping Houses
Phoenix Tips on Flipping Houses

Phoenix tips on flipping houses means knowing your buyer and fixing the house up with that buyer in mind. Spend your renovation dollars on making the family space open and inviting. Make sure there are plenty bathrooms for the kids. If this is a retirement area, and the Phoenix Metro Area is full of them, seek a home with just one main level or without stairs. And use pebbles in the yard and build a patio for a maintenance-free outdoors.

Phoenix Tips on Flipping Houses
Phoenix Tips on Flipping Houses
Flipping a home, purchasing, renovating and selling a home for a profit, is not an money-making activity for the weak-willed and faint of heart. The flipping process usually takes months and unless you create a schedule and stick to it, it can become a black hole that you dump money into. A schedule enables you stay on point, but planning everything out will also aid you in avoiding stupid mistakes. Set up a achievable timetable and stick to it.

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