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Buying Basics- What to Know for Buying and Selling Success

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If you have developed an interest in buying and selling houses, you’ve come to the right place. There are many ways to make money in the real estate market these days. Some can come from buying houses; others can come from selling houses. Many money moguls have learned that both buying and selling a house is the trick. The issue in today's market is that it is difficult to break into the art of buying a house to flip and sell, so here are a few thoughts to consider before you get into the art of home buying and selling.

Buying and Selling Houses Successfully

What to look for when buying a house to flip (successfully):

Look For a House in the Right Location

When you start to get interested in buying and selling houses, you’ll notice the people that do the best have bought their investment in the right location. What is the general vibe of this area? Is it up and coming? Does it seem to have taken a dip in employment rates? What is the reputation of the school district? Do your research and find the areas where it is desirable to live. This will really increase the odds of your home buying and selling success.

 

Pricing Of the Home

Make sure you’re buying a home that is priced below the value of the local market. If this is not heeded when buying and selling houses, you run the risk of making little to no profit off your flip. Try to find homes that need the most work but are located in the best areas. This way, when you put some elbow grease into the flipping of this house, the new value of the home—mixed with the value of an already desirable area- will skyrocket.

 

By A Home That Is In Good Structural Condition

Unless you yourself are an inspector and know what to look for, your best bet here is to hire a professional to come and assess the home before you invest in it.  You’ll need someone who knows what to look for structurally, electric and plumbing-wise. On of the biggest issues in home buying and selling with an intention to flip is that people bite off more than they can chew. They find a low priced home but forget to assess it, meaning you might have to tear the home down and rebuild. This is definitely not the ideal when buying and selling houses.

 

Proximity to You

You are going to be spending a great deal of time working on this flip, so make sure it is only a short commute from you. Don’t invest in a house that requires you to drive far away every day. What you’re able to make in profit later will only be siphoned into your car’s gas bill.

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Keep an Eye Out for Fixes

When looking at the potential of buying and selling a house, note what fixes it will require. Certain cosmetic fixes are quick and easy. A new coat of paint, a fresh carpet, new light fixtures are some examples. Those kinds of touch ups mean the investment can be made up for multiple times in the return. Other cosmetic projects like new flooring, replacing old cabinets or changing up the siding of the house can take a lot more time (and money) and can affect your return in the end.

To flip a house requires a whole different set of skills and can be detrimental to new flippers who haven’t done enough homework. It is recommended that first-time flippers enlist the help of a mentor, someone who has done this before. These people can make sure you understand all the tricks of the trade for home financing, negotiation strategies, and might have more connections to good contractors, landscapers or plumbers. Buying and selling houses is not easy, or else everyone would do it.

Luckily for those people who have just finished successfully flipping, buying and selling a house that now looks new and attractive should be much easier! Here are a few ways to get that beautiful new home on the market.

Find a trusted real estate agent. People who like to flip houses are very good at the DIYs, but real estate investors can save you time and get you the return you’ve always dreamed of. When buying and selling houses real estate agents are a gold mine in that they will be able to get your sparkly new place some maximum exposure. If you’ve done your part and invested in a home with good bones and in a great location, the buyers should hopefully come running.

Sell your home at the right time. Home buying and selling are severely affected by the time of the year. If you finished your project during a disagreeable time to sell, you might need to live in your place until the season is a little sunnier. No matter how beautifully your flip turned out, you might not have any potential buyers come knocking if it is the middle of winter.

Hire a professional housing photographer to capture the best angles of your newly renovated home. They have the materials, and the training to make sure you’re home has photos that show it in its best light. Literally! These photos will make it much easier for your estate agent to show off and ultimately make the sale.

Don't forget to promote it yourself! You may have thought your job was done after successfully flipping your investment, but once it has been set and sealed, make sure you’re proudly promoting your finished product! You never know which friend has a cousin looking for their new place. Use the photos taken by your professional photographer and post them on your social media sites, as well as sending links to your friends and family. It has been mentioned before, but the more exposure, the better! Whoever thought buying and selling houses could be a popularity contest!

Now that you have a few ideas to chew on before embarking on your home buying and selling journey, get out there and find your own flipping success story!

 

Buying or selling a property is one of those crucial monetary decisions that require a thorough understanding of the market, and you definitely don’t want to risk it. To make it smooth, Sellanyhome.com with our experienced and professional team will lend a hassle-free service. 

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