289 Real Estate Site » flipping houses http://www.iafflocal289.org Fri, 13 Aug 2010 17:13:01 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 The Most Important Aspect of Flipping Houses – Curb Appeal http://www.iafflocal289.org/289-real-estate/the-most-important-aspect-of-flipping-houses-curb-appeal/ http://www.iafflocal289.org/289-real-estate/the-most-important-aspect-of-flipping-houses-curb-appeal/#comments Wed, 09 Sep 2009 08:09:05 +0000 admin http://www.iafflocal289.org/289-real-estate/the-most-important-aspect-of-flipping-houses-curb-appeal/ Of course, you've already considered location, so the first step you need to contemplate in purchasing a house for flipping is curb appeal. What does it look like from the street? If people aren't anxious to buy after driving buy, what chance do you have of making a sale? Curb appeal is everyth...]]> Of course, you’ve already considered location, so the first step you need to contemplate in purchasing a house for flipping is curb appeal. What does it look like from the street? If people aren’t anxious to buy after driving buy, what chance do you have of making a sale? Curb appeal is everything.

Actually, it’s curb appeal times two. You need to consider what it looks like to you for buying and you need to envision what it’s going to look like to a prospective home-buyer when you sell.

If the outside of the home doesn’t captivate you, then no matter what you do to the inside, you face an uphill battle. I’ve had great houses with great prices . . . and potential buyers barely slowed down as they drove by. You need to believe that with a little work and a little money, you can transform a home from a liability to alluring.

Curb appeal consideration for you:

  • Roof lines even? – You don’t want to see a sagging roof, even if it’s structurally sound. That look could cost you thousands in resale value.

  • Additions un-cobbled? – Many times people add on dormers or little additions. If there are additions: do they fit the basic “look” of the house? Does the roofing material match? You don’t want to be changing those. You want the home to look picture perfect.

  • Garage converted to a family room or bedroom? – Many times ramblers have original built-in garages converted to extra bedrooms and/or family rooms. The driveway comes up to the house and you can easily see where new siding was added to “hide” the conversion. This rarely works. The best I’ve seen used French Doors into a family or garden room.

  • House settling? – If you can see from the street that the house has settled, there is little you can do outside of major foundation work.

  • Concrete work settled? Cracked? – Front steps off kilter? Actually, you can build new steps around them. Often you construct a small deck that both hides the old concrete and enhances the new look. This hides unsightly cracks as well (make sure they are repaired first, however (don’t just cover them up).

  • Crappy neighbors with crappy homes, crappy landscape and crappy attitudes? – If you can buy their homes for a good price, consider it. If not, pass it by otherwise you’ll be trying to show your home while the police stop by next door for an on-location shooting of “Cops.”

    If you purchase the house, you will start working on the curb appeal as well as general remodeling. You need to capture the hearts of your potential buyers.

    Curb appeal for your new buyers:

  • Put up large street address numbers so people can easily locate your home for sale.

  • Nicely painted – Fresh paint adds value and says the home is well-cared for.

  • Landscaping – Big bushes and trees add instant value. Tie the landscaping together with edging and you have a complete look. If you don’t know what time of year you will be selling, choose mostly evergreens and then add flowering plants just before you put up your sign.

  • Charming – Nothing sells like charm. Don’t settle for bland. Add color that highlights the home. Got room for an arbor? Is there a small private area that can still be seen from the street? Room for a bench? Does the house have shutters. They don’t even have to work. They can even have to work. Shutters or “faux” shutters can be used to accent the windows and make them appear larger.

  • Dramatic lighting – Make sure your address is well lighted. Use dramatic spot lights to show off the landscaping and the private areas. If your house is vacant, choose a nice table by a beautiful window to add an attractive lamp. You want a shade that sends light up and down. You’re want people to have the feeling that they’ve come home after being away, and someone left the light on for them.

    People view houses when it is convenient to them, this often means after work, at night. Be sure to check out your curb appeal for different times of day and night.

    Imagine the house you’re selling as the perfect home. How would it look, if it were painted as a romantic scene by Thomas Kincade? You would see drama. You would see color. The lighting would pull you into the painting. Create that picture for your curb appeal.

    What you want is an image that stays in the mind of potential buyers. They drive by. They call. They look it over. They make their offer. They can’t wait to move in. They pursue financing. You get your asking price . . . or better. Their dream never waivers. This is their home. All of this is done with curb appeal.

    Don Doman is a published author, video producer, and corporate trainer. He owns the business training site Ideas and Training (http://www.ideasandtraining.com), which he says is the home of the no-hassle “free preview” for business training videos. Don and his wife Peg at one time owned 33 single family homes, which they purchased, remodeled, and used as income properties before selling them for profit. You can gain from their experiences at Simple Home Repair (http://www.simplehomerepair.com).

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    ]]> http://www.iafflocal289.org/289-real-estate/the-most-important-aspect-of-flipping-houses-curb-appeal/feed/ 0 7 Simple Tips For Flipping Real Estate http://www.iafflocal289.org/289-real-estate/7-simple-tips-for-flipping-real-estate/ http://www.iafflocal289.org/289-real-estate/7-simple-tips-for-flipping-real-estate/#comments Fri, 15 May 2009 11:26:02 +0000 admin http://www.iafflocal289.org/289-real-estate/7-simple-tips-for-flipping-real-estate/ Unless you've been living under a rock for the past few years, you've probably either dabbled in real estate yourself, or at the very least, know someone who has. So, how does someone that's brand new to real estate start flipping homes? (And let's clear the air right now IT IS NOT TOO LATE t...]]> Unless you’ve been living under a rock for the past few years, you’ve probably either dabbled in real estate yourself, or at the very least, know someone who has. So, how does someone that’s brand new to real estate start flipping homes? (And let’s clear the air right now IT IS NOT TOO LATE to start investing in real estate).

    Follow these 7 tips to start investing in real estate today:

    1. Look In Your Own Backyard
    The grass is always greener in the other neighborhood, and it’s easy to keep looking for the “right” area. The bottom line is that any area is the “right” area. In order to be effective in the steps 2 through 7, you’ve got to get over the idea that real estate deals only exist in other areas. It sounds clich

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    ]]>     http://www.iafflocal289.org/289-real-estate/7-simple-tips-for-flipping-real-estate/feed/ 0     Flipping Houses Common Mistakes That Flippers Make http://www.iafflocal289.org/289-real-estate/flipping-houses-common-mistakes-that-flippers-make/ http://www.iafflocal289.org/289-real-estate/flipping-houses-common-mistakes-that-flippers-make/#comments Sat, 01 Nov 2008 16:08:26 +0000 admin http://www.iafflocal289.org/289-real-estate/flipping-houses-common-mistakes-that-flippers-make/ In my profession as a home inspector, I get to witness some amazing flipping deals. Some are profitable, some aren't. Here are the common mistakes I see flipper continuing to make.

    #1. Falling In Love With The Home: Hey, it's just a house built out of sticks and clay. There are tho...]]> In my profession as a home inspector, I get to witness some amazing flipping deals. Some are profitable, some aren’t. Here are the common mistakes I see flipper continuing to make.

    #1. Falling In Love With The Home: Hey, it’s just a house built out of sticks and clay. There are thousands more. If you can’t keep from falling in love with every home you see, then flipping homes isn’t for you. Never forget it’s a business, treat it that way.

    #2. Keep Your Mouth Shut! There’s an old saying in the Navy. “Loose lips sink ships”. More than once I’ve inspected a home for an Investor and have the Investor call up a week later saying they lost the deal to someone else. Some people just can’t keep their mouth’s shut. Wait until you walk away from the closing table to tell everyone what a deal you made!

    #3. First Impressions Are The Most Important: Spend the dough on the landscaping and exterior of the front of the home. I’ve seen more homes sold and more homes fallen in love with (see rule #1) from a great first impression than any other single item. Clean and shiny door knobs, door knockers, coach lamps and address numbers will add to the impression. If it doesn’t add cosmetically to the home, get rid of it.

    #4. Don’t go overbored The simple fact is that most homes can be flipped for a decent profit by cleaning and replacing the carpet and paint. Too many times flippers think they need to sink thousands of dollars on a home to make it sell.

    Many times what happens is they will remodel the home and it ends up being priced higher than anything in the neighborhood and sits on the market untill the Investor drops the price. Take a page from the flipping pro’s book. Keep it to the basics. You’re trying to make a profit, not make the front cover of a glamour magazine.

    #5. When In Doubt, Reread Rule #1 Some people need Rule #1 stapled to their forheads!

    #6. Don’t Get Greedy! If you’ve priced your home well, then take the first offer that comes along. It’s not worth your home setting on the market for months because you’re too tight to come off the price a thousand or two. Reread rule #1!

    Donald Lawson is a Professional Real Estate Inspector licensed in Texas (#5824) and Oklahoma (#454). He currently owns and operates V.I.P. Home Inspections, a Houston Home Inspection company. If you’re interested in investment opportunity’s in Houston Tx, see his Houston Real Estate page.

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