House Flipping: A How to Guide for Beginners

House flipping has become increasingly popular over the years. Done right, it’s a sure way to grow your money and gain financial freedom. The market has seen a recent uptick in the return of house flipping, and now is a great time to dive in. But if you’re new to real estate investment, you’ll want to do your research before you get started. Keep reading for 4 important tips on how to flip a house.

1. Invest in Your Curb Appeal

If you’re a new investor, make sure to give the outside of the house as much love as the inside. Curb appeal is everything when you’re flipping a house. The best real estate investors can take a drab, unattractive home and turn it into the most alluring house on the block with just a few quick updates. These fixes don’t need to break the bank, but showing some attention to detail on the front of the house will go a long way to attract buyers and increase the value of the home. Replace siding, add a fresh coat of paint, or upgrade the front porch. Add fresh flowers, trees, and gravel pathways to create an inviting home.

2. Know Your Neighborhood

One of the biggest mistakes new house flippers make is not knowing the neighborhood before they make an investment. Make sure you know what you’re getting into before taking the risk. Know the amenities the area has to offer. Learn about the nearby schools, look for parks and trails, and find out how far away the house is from stores, gyms, libraries, etc. A small, simple house in a great neighborhood is sure to sell faster than an amazing house in a less desirable area.

3. Do Renovations Right 

Some house flippers are known for slapping together some renovations to make a quick buck. But the most successful investors take the time necessary to do renovations right. Pay attention to details and use quality materials to make the greatest profit. No need to go all out with making the most expensive renovations, but don’t try to cut corners. Choose broadly appealing finishes and enlist the help of a reliable contractor. Your efforts will pay off when it comes time to sell the house.

4. Make Minor Upgrades for Major Impact

Even if you don’t have a huge budget for remodels, remember that the most minor upgrades can make a major difference in the eyes of future buyers. Learn to spot quick fixes that can totally change the look of the home. Add a fresh coat of paint, switch out door handles, and replace cabinet hardware. Install new faucets and light fixtures. Replace the backsplash and add new shower heads. All of these touches will go a long way to wow the next homeowners.

Learn More from Real Estate Elevated

These 4 tips will set you on the path to success with your next house flipping project. And if you’re looking for even more advice on house flipping and remodel projects, register for a Real Estate Elevated class today. Our expert real estate investors are eager to help house flippers of all levels of experience. Learn more about how we can help your business thrive today.