Blog Education 5 Mistakes to Avoid Before Flipping a House

5 Mistakes to Avoid Before Flipping a House

By Bobby Curtis, February 4, 2019

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

Bobby Curtis
Principle Broker
Licensed in Oregon
Licensed Contractor
CCB# 215071
503-502-3066

Bobby Curtis

Principal Broker & Licensed Contractor

Meet Bobby Curtis.  Buyer’s agent. Listing agent.  Renovator. A down-to-earth Midwesterner hailing from the great state of Michigan, Bobby harnesses equal parts brains, brawn, and enthusiasm for every client and project.  After graduating from the University of Michigan, he began a career in the pharmaceutical industry focusing on sales, marketing, and consulting.  In those five years, he was even lucky enough to roam around Europe for short assignment in Geneva, Switzerland.  Nevertheless, the European trip came to an end and he traveled back stateside where he traded in his suit for a high-quality flannel and some Carhartt’s.  After purchasing his first house to flip, Bobby rolled up his sleeves and started in on what would become his passion – transforming houses into homes by unleashing the beauty of each unique property. Since 2010, Bobby has bought and restored several houses a year in Portland, both large and small, with great success.  Armed with extensive first-hand knowledge of house restoration, Bobby offers his clients an exceptional eye to pinpoint property potential and value.  Whether you are searching for complete fixer property or a dialed-in and buttoned-up home, he is happy to guide you through the process of finding your perfect place.  If you are selling your property, Bobby’s keen eye will help you showcase all of your property’s best features.  Because Bobby buys and sells several properties of his own every year, he better understands what it's like to be in his clients shoes. And as an experienced buyer’s agent, listing agent, and renovator, Bobby is well-versed in negotiating a great price and terms for his clients. If you’re looking to get a sneak peak of Bobby in action, you can watch him (and his mom) on an episode of First Time Flippers on the DIY Network. Or you can catch him on Katu's Afternoon Live daytime talk show once a month, discussing Portland Real Estate and House Restoration. Check it out here Contact Bobby at: 503-502-3066 or bobby@livingroomre.com Licensed Contractor #215071
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  • T: 503-502-3066
  • F: 503-961-8224
  • bobby@livingroomre.com

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