Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Tips for Successful House Flipping

By Ashokalion Subscribe to RSS | May 22nd 2012 | Views:
loading
 
  



Buying a house and remodeling with an aim to finally sell it away to earn profit is known as flipping a house. House flipping is no doubt, a nerve-racking task but with proper planning and strategy you can successfully flip a house and earn the best profit. If you are starting out in property investment in Dallas or Houston area, we hope that the following tips would help you conduct a successful house flip.

House flipping is a rewarding investment strategy. As investment property managers and real estate brokerage, we have been guiding our clients in Houston and Dallas on house flipping by devising an effective approach so that they can earn the maximum returns.

Some of the fundamentals of house flipping that you should be familiar with are as follows:

1. Focus on Budget: Buying a newly constructed house is the ideal way to set you free from all hassles related to budgeting. You need to take care of the mortgage fees, insurance, lawyer’s fee, and real estate agent’s fee including the insurance. However, if you plan to buy a fixer-upper, it would require more of a budget as the property needs complete renovation including repairs.

2. Paperwork: Flipping of house involves a lot of paperwork including permits. Therefore, it is imperative for you to apply for permits before beginning the renovation as it takes an extensive period of time to obtain permits. You should apply for all the necessary permits so that your work can continue smoothly. Absence of permits can lead to grave consequences including work stoppage and you might also have to pay a heavy fine for not having the required permits.

3. Set a timeline: While commencing the renovation work, you should set a definite timeline to keep a track on the advancement of the work. A timeline works as the best tool to put the tasks that needs to be done in order and to check if they have been completed accordingly.

4. Hiring an experienced contractor: Since it is not possible for you to be always available at the construction site, it is imperative for you to hire an efficient contractor who can supervise the work in your absence and keep a watch on the timeline besides taking care of your budget.

5. Begin with the simple tasks: You should preferably begin with the smaller and simpler tasks before getting started with the bigger projects.

6. Enhancing the visual appeal of the home: To attract potential buyers, you should remodel both the exterior as well as the interior of the home including kitchen and the washroom. A fully refurbished home with mowed lawns, attractive fencing including elegant and modernized bathroom and kitchen will enhance the value of the home thus helping you to earn maximum profits.

7. Focus on target-buyer: While remodeling the house, you should focus on the taste and preference of the target buyers rather than incorporating your personal preference regarding the color of the walls, carpets, etc. When it comes to painting the walls, you should go for neutral shades.

8. Get rid of emotional attachment: You should always keep in mind that house-flipping is like any other business undertaken to earn a profit. As a real estate investor, you should not get emotionally attached to the property on which you are working.

These are the few tips to assist you in house flipping. If you are planning for house flipping, you should spend a good amount of time to investigate so that you are aware of the procedure. Flipping a house is a difficult but profitable business that calls for adequate time, funds, expertise and above all patience. Thus it is essential to educate yourself about the venture by attending workshops or seminars. However, the best way to succeed in house-flipping is to take help from investment property managers.

Ashoka Lion, as an Investment Property Management Firm has been supporting the investors in Houston and Dallas to manage house flipping projects in the best possible way, and the Lion Real Estate Group is our real estate brokerage to facilitate more traditional buying, selling, and leasing. Our firm focuses on the entire investment real estate spectrum not only on buying and selling real estate allows us to assist you in forming the best strategies related to house flipping. Since our inception, we have been providing a helping hand to our clients in selling the house by minimizing their expenses and maximizing their profits.

Ashokalion - About Author:
Jay Raman is the Broker of Record for the Lion Real Estate Group, LLC, a Houston and Dallas area brokerage. Jay and his team have been buying, selling, and leasing homes primarily with a focus on investment property in Houston & Dallas for the past 6 years and manage over 160 residential (single family home) properties in Houston and Dallas as well as several associations. To get more great articles or ideas, you can also visit Brokerage’s Investor Website, Facebook or Twitter Account. Visit: http://buy-investment-property.ashokalion.com/

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/tips-for-successful-house-flipping.htm

Related Business Articles Subscribe to RSS

Construction and Real Estate Litigation firms- a helping hand in property disputes
Published by Robert Doran on January 18th 2012 | Business
The article mentioned above discusses about the construction and real estate litigation firm. It als...
 
Looking for a peaceful retirement? Learn why Uruguay is your best real estate investment option
Published by Rafael Tayler on January 24th 2012 | Business
Located in the South of America, just between Argentina and Brazil, this little country has everythi...
 
Property dealers Mohali to help buyers find the best property at lucrative price
Published by Deepti on April 12th 2012 | Business
Real estate market in India is witnessing a remarkable upsurge all over India, though there are stil...
 
Mini self storage Beale AFB: vital to safe property from climates & other difficulties
Published by Erleroadself on November 30th 2011 | Business
Since Mini self storage Beale AFB is essentially helpful for individuals who are planning of moving....
 
Do you want to buy a property in Florida?
Published by Harry on June 27th 2012 | Business
Levitan realtors are one of the realtors that can assist you in finding suitable homes for sale in N...
 
Do you require Building Surveyors to help with a property purchase?
Published by on June 16th 2012 | Business
Buying a new home or business premises is one of the biggest financial decisions people can make, an...
 
Why to invest in property in Burnham
Published by Ricky Charles on December 15th 2011 | Business
Obtaining the property for sale in Burnham might be easy if you take the help of reliable real estat...
 
Garden Side Gates could help make your property more secure
Published by Angie Turner on June 18th 2012 | Business
Security is a key consideration for any homeowner who wants to make sure that their property is...
 
A Real property and unique property
Published by Rosy on August 16th 2012 | Business
The Montreal assets Blog is concerning this market conditions in Montreal and also the neighborhoods...
 
Buying houses in Mohali a safe investment
Published by Deepti on March 26th 2012 | Business
Out of the tricity which consists of Chandigarh, Mohali and Panchkula; Mohali is considered as seren...
 
Patents South Africa protect your intellectual property
Published by on June 19th 2012 | Business
Call a patent attorney that specializes in Patents South Africa and they provide you with peace of m...
 
Making the best deals in Orange county property
Published by Joy on February 3rd 2012 | Business
Orange County is now counted as one of the top choices to buy property in the entire country, thanks...
 
Add value to your property with a superb extension using the very best architectural service London at Just Extend Your House Ltd
Published by James Blee on July 27th 2012 | Business
We are all well aware that the economy in the UK is at an all time low, credit and disposable income...
 
Getting the property valuation
Published by Sara Phelps on December 12th 2011 | Business
If you want a home buyer report a chartered building surveyor or general practice surveyor will offe...
 
Five factors of Planning a Fencing Project for Your property
Published by Kusum Kalwar on January 25th 2012 | Business

If you are thinking about installing fencing around your home or garden there are few things to ...
 
India Property – Tips on low cost techniques for maintaining your commercial property
Published by John Smith on March 7th 2012 | Business
As your India property ages, it will definitely cost you more to maintain the building particularly ...
 
Take hold of the best property in Mohali at affordable rates
Published by Deepti on March 30th 2012 | Business
Mohali is attracting individuals from all over India now, be it the investors for the commercial inv...
 
Why destin florida homes are best and great choice for buying property
Published by Dany on May 11th 2012 | Business
If person wants to buy any property in Destin Florida then person should read this informative and w...
 
Profitable property ahead in Gurgaon
Published by Atul Sharma on June 18th 2012 | Business
The article is based upon the real estate properties in Gurgaon. You can draw lot of information on ...
 
Mohali property – the best place to make investments
Published by Ravinder on November 28th 2011 | Business
Mohali, in the recent days, has emerged as the hot favorite destination for property investment. The...