The Ultimate Guide To Home Flipping for Profit

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.

Are you looking to get into flipping homes? It can be a profitable and rewarding investment if you know what you’re doing. However, successful home flips require extensive work, research, and a good strategy. That’s why I’m here today to share three expert strategies that will guarantee high returns on your investment:

1. Research and planning. Begin by researching your local market with your agent to find the perfect property. If you need financing, ask your Realtor for lender recommendations. Once you know your budget and what you’re looking for, search for distressed properties with improvement potential. Focus on intangible assets like location or size. A home in a great location, even if it needs significant work, is often worth the effort.

2. Inspect, repair, and know your ARV. To minimize investment risks, we recommend you conduct a thorough inspection, identify what repairs need to be done, and determine your ARV or After Repair Value. This means that you have to begin with the end in mind by knowing what the home will be worth after strategic repairs, then work backward to determine a great purchase price. If you’re unsure of a property’s worth, an experienced realtor can help you determine the value of a home in any condition, and help you find a reliable contractor to estimate repair costs.

3. Market your property. Once your home is market-ready, it’s time to market it effectively with your agent. Utilize online websites, social media, and video marketing. Don’t forget to list your property on the MLS with your agent. After finding a buyer, your agent will lead negotiations. Working with an experienced agent, like myself, ensures you have expert guidance throughout the process.

By following these steps, you should make a healthy profit on your flip. If you’re interested in partnering on your first flip, ask me about my Fix-n-List program. If you have any questions, feel free to call me at 801-895-9296. Whether you’re considering flipping or simply seeking real estate advice, I’m here to help.