If you have home repair skills, there is much money to be made by rehabbing and flipping properties. It is important to know the finished value of the property and the rehab costs before making a purchase. Choose your neighborhood carefully so that your finished product will sell easily. Also, make sure that you have carefully inspected the property so that you are aware of any structural or mechanical problems that you will encounter while doing your repairs. An ugly property can be a great buy for a flipper.
Owner occupants often cannot see the potential beauty of a property, but experience will let you see the house with new floors, cabinets, paint, etc. When properties don’t sell because they show poorly, there is an opportunity for a rehabber to step in and update the property – if the price is right. Lichtman Associates Real Estate, LLC has experience working with investors who rehab and flip houses. We will give you important guidance in making a decision whether to buy a rehab property. Let us be your guide when buying a property to fix and flip.