Resources You’ll Need if You Want to Flip Homes for a Living
August 30, 2021 | Kirk Callender
In the last few years, especially during the COVID lockdowns, lots of people have gained interest in renovating and flipping homes. This can be lucrative and rewarding, but it can also require a lot of preparation and learning to be successful. In addition to researching renovation techniques, there are some resources that you’ll want to have to be able to flip homes for a living.
Relationships with Mortgage Lenders
Often, financing a house flip out of pocket can be difficult, if not impossible. House flipping can be pretty expensive, especially if you’re trying to achieve a substantial upsell upon completing it. In this case, you may want to consider obtaining a mortgage for the house flip. This is why creating relationships with mortgage lenders is so important if you’re wanting to flip houses full-time. If you have some lenders who trust you, know your background, and know that you can make a return on your investment of flipping homes, they’ll be more likely to give you a mortgage to fund your projects.
Home Service Listing Sites
Another resource that could help you in flipping homes is finding home service listing sites to work with. Chances are that you don’t know how to complete every step of flipping a house and you may need help from some home services. For example, you may have a lot of skills that help with home flipping, but maybe you aren’t an electrician and need some new lights wired. You could use a home service listing site to find a good electrician who will be able to deliver quality services within your budget. Angie’s List is one of the more popular sites and has over 5 million members.
Know Real Estate Agents
In order to make any profit on your home flips, you need to know real estate agents that you’d like to work with. Real estate agents can help you to find homes that you could flip at the beginning of the process. They can also help you to advertise your flip project and find sites where you can post your finished home in order to attract buyers. Taking the time to explore the different real estate establishments in your area will help you to find the agents that will work with your goals for your properties.
Even though it can seem like the most important part of house flipping is putting in hours in the renovation process, the connections that you make to help you to sell your house are even more important. Make sure that you take the time to network with people like real estate agents and mortgage lenders that will help your flipping to be successful. Remember that by pairing these important connections with your flipping skills, your efforts are sure to be profitable.
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