Sunday, February 5, 2017

How to Flip Houses in Phoenix: How to Handle Construction and Renovations

How to Flip Houses in Phoenix
How to Flip Houses in Phoenix
One of the hardest variables to control when considering how to flip houses in Phoenix is construction. Basically all flipped houses require significant renovations, but some even require basic construction. Obviously the goal when flipping a house is to make money, but the more renovations and construction you need to do the harder achieving that goal becomes. As a result, it is important to understand how to handle that phase of the flipping process.

The first tip with the renovating and construction phase is to allot twice the time you actually think it will take to complete every individual project - especially in the beginning. This will make it tougher to find the right house, but if you are profitable doing renovations for twice as long as normal you will be significantly more likely to be above that bottom line even when things do not go smoothly.

How to Flip Houses in Phoenix
How to Flip Houses in Phoenix
One major mistake new house flippers can make is trying to do all the renovations themselves as opposed to hiring out contractors. If you have technical skillsets, such as carpentry, it is a great idea to use your skills to add character to the house for a great price. If it isn’t your background, though, it can be more advantageous and profitable to find a contractor you trust to take care of the work. Going with professionals can reduce wasted time and resources. Consequently, it can be attractive to simply avoid some stress and find a good contractor.

Lastly, while it seems small, make sure to measure everything. Too many times investors learning how to flip houses in Phoenix pick out an excellent addition to the home, but they can’t actually get it in the house without doing some damage. Whether your are considering time, money, or stress, measuring can help make sure things go just as planned.

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