Master Home Flipping in 3 Simple Steps

By Stacey Chaffin

Home is not just a place, it’s a feeling. My number one priority as an agent is to bring my clients that feeling and in turn, bring them home.

If you’re considering flipping a home for higher profits, remember that a successful sale lies not just in what you do, but when you do it. Understanding the timeline for a successful house flip is crucial to maximizing your investment and minimizing risks; that’s why today, I will share a concise guide to home flipping:

1. Find the right price. The first step in your home improvement journey is finding the right price. This phase involves market research, viewing potential homes currently on the market, and navigating the numbers. I help you determine your “as is” price based on other homes in similar condition in your area. Then, I’ll help you put together a budget for home improvements that will bring the greatest return on your investment. Next, I will give you an after-repair value. Typically, the after-repair value will allow you to sell your home for $20,000 to $40,000 more than the “as is” value and sometimes even more than that.

2. Make the improvements. Once the budget is set, it’s time to start making the improvements. This stage is where your vision comes to life, from minor cosmetic updates to major system improvements like a new roof or HVAC. Plan for this stage to take three to six weeks, depending on the improvements needed. Efficient project management and having a reliable team are crucial to keeping this phase on track and within budget. This is where my team excels for you and sets you up for success. We have done this many times, and the process is seamless with us now.

3. List the property. Once everything is done, it’s time to list the property for sale. This stage includes staging the home, taking professional photos, and marketing the property. Ideally, aim to have your home on the market within 1 to 2 months after completing the improvements. On average, our properties sell four times faster and for more money.

With the right approach and timing, flipping and listing a home can be rewarding and profitable. If you’re ready to start flipping houses for profit, don’t hesitate to reach out! Just call 801-895-9296 for a personalized home improvement consultation. Talk to you soon!