Leave a Message

By providing your contact information to Woodland Real Estate, your personal information will be processed in accordance with Woodland Real Estate's Privacy Policy. By checking the box(es) below, you expressly consent to receive marketing or promotional real estate communication from Woodland Real Estate in the manner selected by you. For SMS text messages, message frequency varies. Message and data rates may apply. Consent is not a condition of purchase of any goods or services. You may opt out of receiving further communications from Woodland Real Estate at any time. To opt out of receiving SMS text messages, reply STOP to unsubscribe. SMS text messaging is subject to our Terms of Use.

Yes, I agree to receive email or phone call communications from Woodland Real Estate. Yes, I agree to receive SMS text messages from Woodland Real Estate.

Thank you for your message. We will be in touch with you shortly.

Questions to Ask Before You Buy a House to Flip

June 12, 2023

Flipping houses can be a path to wealth if you play your cards right, but it can also result in money pits and small returns if you don’t know what you’re doing. Before you get ready to flip your first house, make sure you’re considering (and finding answers to) all of the following questions.

What’s Your Upper Limit on Purchase Price?

There’s always a cap to any sales price you can get
A flip will always need at least some work
This means you need to find an amazing deal to make money

How Will You Find the Best Deals?

Divorce court
Probate court
Foreclosed homes
Look for homes that are sound but need cosmetic work
No major repairs: plumbing, electrical, foundation

Should You Get an Inspection?

Even if you’re paying cash, it’s a good idea
Ask the inspector to focus on major issues
Get a sense for outdated or noncompliant features or systems

Which Improvements Can You Tackle Personally?

Hanging drywall
Painting
Installing cabinetry
Nothing?

Who’s Going to Help You?

What improvements can’t you handle?
Look for people to fill the gaps
Ask about rates and availability
Pay them on time
Maintain good relationships

What’s Your Timeframe?

This will depend on what needs to be done
Build in time for each task plus wiggle room
Bad weather
Missing supplies
Illness

Does the Market Matter?

Markets with robust price growth tend to yield low returns, but …
Try to find markets where homes are moving more or less quickly

What Will You Do to Balance Your Portfolio?

Successful flippers diversify their real estate investments
- Will you venture into becoming a buy-and-hold landlord?
- Will you offer lease options to renters?
This way, a bad flip won’t sink you

Can You Juggle Multiple Deals at Once?

You’re only as good as your next deal
You’ll to line up the next project while you wrap your current flip

Can You Think Like an Investor Instead of a Homeowner?

Don’t get carried away with upgrades
Use materials that are classic and long-lasting
Offer wide appeal without sacrificing much quality

Recent Blog Posts

17 Questions For Choosing A Plumber

Finding and choosing a reliable plumber is one of those things that most homeowners know they should do at some point.

18 Tips For When You’re Stuck In Escrow

If you’re not sure what to expect, follow these tips, and your closing should go as smoothly as humanly possible.

12 Pet Owner Maintenance Musts

Having a pet is absolutely worth the hassle they can cause, but there are also steps you can take to maintain your home.

10 Things To Know About Home Value Estimates

There’s a reason why estimating a home’s value is a specialized process that’s typically executed by a licensed professional.

9 Reasons To Sell In 2019

When you hear economists or real estate professionals talk about inventory, they’re referring to housing inventory.

35 Things Home Inspectors Examine

It’s usually best to wait until the inspection has concluded before you bombard the inspector with queries.

How To Create An Urban Garden: 17 Considerations

If you’d like to grow something that requires more sunlight than you have available, think about investing in an interior gardening system.

Buying Before Or After Marriage: What Should You Do?

Whether you buy a house together before or after the wedding, there are advantages and disadvantages to either path.

15 Things Home Inspectors Miss

Home inspectors do their best to catch the major problems before the sale is finalized, but there are some things they can miss.

Your goals, our expertise

We understand that buying or selling a home is more than just a transaction: it’s a life-changing experience. That’s why our team of highly seasoned real estate professionals is dedicated to providing exceptional, personalized service for all of our clients.