5 Mistakes to Avoid Before Flipping a House

I shared the 5 mistakes to avoid before flipping a house with Tra’Renee from Afternoon Live on Friday. Whether you’re a seasoned house flipper or you’re getting ready to restore your first one, you could probably get a good nugget or two from watching my short interview. Check it out here.

1. Putting in materials and finishes that don’t work
   1. Find out what finishes are being used for houses selling quickly in the area. Use those.
   2. Consider working with a designer or an experience REALTOR® in this area.
2. Buying a house to flip with no good comparable houses
   1. Flipping a house shouldn’t feel like a guessing game.
   2. Work with a REALTOR® who can show you there are other houses like the one you want to buy that other buyers have bought for the price you need to sell yours for.
   3. Look for evidence of houses selling for a lot more that are in much better condition. Take surrounding houses into consideration
3. Putting the house up for sale before it’s 100% complete. One chance to make a good first impression.
   1. There are many houses I have walked into with evidence of work not being complete, door knobs falling off. No matter if that is the only doorknob loose in the house, it will BE the representation of that house.
4. All DIY
   1. Hire professionals to do the professional work.
5. Taking too long
   1. You had good intentions to flip the house in 2-3 months, and pretty soon that turned into more work than you thought. 9-12 months later you are ready to list.
   2. A market can shift dramatically in 9-12 months. I like to buy a house, restore it, and sell it in the same market
   3. Taking too long also kills personal morale. Keep that moment going.

Interested in more? Learn whether a house makes a good candidate to flip or not to flip here

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