6 House Flipping rules of engagement.
Let’s get straight to the house flipping point…
House flipping rule # 1 - Buy the smallest or ugliest house in the neighborhood.
Being a house flipper means that you don’t mind the dirty work; or paying someone else to do it. The main reason for this rule is based on future appraisal value. The smallest house on the block has the biggest potential to be raised. Once the rehab work is completed, it will appraise higher based on the new improvements, and the value of other houses on the block. Conversely the largest house on the block is already carrying the weight of the market value. Adding square footage for instance will not bring the same Return On Investment (ROI) as it would for smallest house.
posted in Complete Rehabs, House Flipping, Property Acquisition, Real Estate Investing, Tips, contractors | 3 Comments
