Flipping a house is a term used to make the most of your money in as short a period of time as possible. If you only have a certain amount to work with the best investment is to buy an older home needing repairs which will not be affected by your closing inspections. Make sure your termite and building inspection is complete without problems because you won’t have this house long and the less money to turn it around the better. Get looking with or without a real estate agent and once you see what you want in terms of profit the next thing is how the houses in that area are selling. The question would be if the seller is getting what the house is worth and if so try and compare your investment to the sale of your house. Also have a general idea on what is needed in terms of repair and do the math. If this is sounding too good it’s time to buy.
Remember that you are doing the repairs to be able to flip the house so don’t over expend your self when purchasing materials. Add inexpensive items such as drapes in the windows, or you can check the cost of pre cut blinds and or shades. Adding a few items is a good idea and the buyer knows they won’t have to purchase these when moving in. Keep the cost down and use earth tone colors which will go with anything.
