Many of our properties are sold to owners intending to flip them in the next six months. For those who are new to flipping or those who are experienced, here are a few tips for flipping houses in Houston.
- Know your market. This means knowing what properties are selling for, knowing how others flip endeavors are faring, and more.
- Stay connected. Being in tune with those in the Houston market most involved in real estate and in flipping properties can help you keep a good read on the market. Participate in networking events, stay in contact with those you meet, and be sure to ask questions to ensure you always have information.
- Offer first, negotiate later. When you place an offer for full asking price, it gives you an in. A seller is likely to accept the offer, and you can look for room for negotiating during inspection time. Look for the issues with the property that could cost you more to fix and use those in your negotiations.
- Keep control. This includes picking the right properties for the right price. You never want to purchase a property you could not sell quickly at a profit that makes it worth your time, money, and energy.
Flipping houses in Houston, or anywhere, is just like anything else: there are right ways to do it and wrong ways. Follow these tips for flipping houses in Houston to help ensure you do it the right way!