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How to Market Your Fix & Flip to Sell Fast!

You’ve got your fix and flipped all fixed — so what about the flip? With a fix and flip, you want to sell as fast as possible. But that’s the rub, isn’t it? How do you sell fast? You can’t control the market. But you can control a lot of elements of your listing.

1. Price your fix and flip properly.

The worst thing that can kill a fix and flip is pricing it too high. Look at the comparable properties and think about your financial situation. If you’re going to be losing a lot of money holding onto the property for an extra couple of months, it may be better to discount the property now and sell it right away. A lot of fast-talking isn’t going to make up for the fact that you’ve priced yourself out of the market. And even a smooth operator isn’t going to be able to defeat most bank appraisals. Price correctly and fight less.

Of course, there’s always the chance someone will fall in love with a property priced over the market; but that’s a gamble. It’s best used when a property has something very unique about it.

2. Use your media wisely.

Video walkthroughs are practically expected now. Spend the time to get a professional photographer and videographer. Have them do video walkthroughs or even 3D walkthroughs. Stage the property nicely. Many people look online before buying a home. A lot of them aren’t even using a real estate agent; they just want to contact you directly after seeing the home. Don’t bother trying to obscure things about the property, such as making it look bigger with a fish-eye lens; that’s a waste of your time and theirs. You want the property to shine, not be misrepresented.

3. Invest in content marketing.

A blog and social media account is a great way to start reaching out to people. People who are looking to purchase a home in a year might follow you today, but that can secure a sale in a year. The more people you have exposure to, the more likely you already have a buyer watching. And content marketing pays for itself over time; though it may take some time and money to build it up now, it’s going to start bringing you in more people as you scale.

4. Build your following.

The more followers you have, the more exposure you have. A lot of people ignore followers because it’s not likely that they’re going to build a house. But build a following of real estate agents and professionals, and you’ll be in direct contact with people who are looking to buy properties. You can network with real estate professionals in your area and find out more about what their clients are looking for. And that’s only going to help you in future, because it also means that your renovations are going to be more applicable to the desires of the market. The more you can connect with people and interact with them, the more ammunition you’ll have.

What about showings? The truth is that open houses and scheduled showings really don’t matter as much as they once did. Often, people already kind of know what property they want (from all their research online) before they even take a look at it. So, don’t rely on the traditional methods to help you sell your fix and flip. You’ll need to be using the new media and reaching out to a broader audience if you want to sell.

image of house under renovation

Flipping Homes in Smaller Towns vs. Larger Markets

A successful home flip generally starts with finding the property with the best potential in the best location. However, a home with an excellent location doesn’t always have to be in a bustling downtown area or a major city. In fact, there can be many benefits to flipping a home in a smaller town rather than in a larger market.

By having a better understanding of these benefits and some other special considerations, you can ultimately make the smartest choice for your next flip.

Greater Affordability

When you’re shopping for fix-and-flip properties in busy markets (such as in major cities), there’s always going to be a lot of competition. This is because in general, the supply of big-city flipping properties is a lot smaller than the demand. Unfortunately, this greater competition also drives up prices. And even if you have the budget to compete with other investors, you could still end up falling short.

Flip properties in smaller towns, on the other hand, tend to be more affordably priced and have significantly less competition. As a result, you can stretch your investment budget even further.

Fewer Zoning Restrictions

Compared to properties in larger cities, homes in small towns also tend to have fewer (and less strict) zoning restrictions. This can make fixing up and renovating a property much easier on you and your contractors. You may have fewer hoops to jump through and more freedom to do what you want with the property, which may make it easier to sell.

Properties in big cities, on the other hand, are often under strict zoning and permitting restrictions that can really hinder your creativity.

Low Crime Rates

While it’s true that many buyers want to live in the city, the reality is that an increasing number of today’s home buyers actually prefer the quieter suburbs. This can be due to any number of reasons, but statistically lower crime rates in smaller towns are probably among the most compelling.

Other Considerations

If you’re thinking about buying a property to flip in a smaller community, there are some things to keep in mind. For starters, be prepared for the possibility that the home may sit on the market for a bit longer than it would in a major city (and plan accordingly for this).

To make your property as marketable as possible, shop for homes that are located near amenities such as dining, shopping, schools, and parks. These kinds of properties will generally have a greater demand than homes that are farther out in more rural areas.

Looking for a Hard Money Loan?

Once you’ve found the right property for your next flip, make sure you have a hard money lender you can trust for a seamless purchase and closing. At Hard Money Lenders Arizona, we specialize in helping investors like you fund your real estate flip projects. Contact us today to learn more about our services and what our hard-working team can do for you!

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How to Get the Most Out of Rental Income

Real estate investing has rapidly grown over the years with more people choosing to buy real estate to either flip for a profit or rent out for a passive income. However, many people who are new to this type of investing may not be fully aware of how to make the most of their purchases. If you want to maximize your profits from real estate investments, the following ideas can help you think more creatively.

Allow Pets

Many landlords miss out on tenants because they’re more concerned about the damages pets can do and take the easy way out of dealing with it by not allowing pets. If you want to attract a larger pool of potential tenants, allowing pets, even with some reasonable limitations, can do that for you. Be sure to collect a pet security deposit to cover any damages that may occur. This type of deposit is often nonrefundable, but tenants are more than happy to pay if they can get a nice living environment for themselves and their fur babies. This is typically around $250. It’s also possible to charge an extra $25-50 per month for pet rent if you’re still concerned.

Rent for Shorter Terms

Not everyone is looking for a long-term rental to spend a year or more. Some people travel for work, while others may just want a place to rent for a long getaway. Offering short-term contracts can open up your tenant pool significantly. Some renters prefer shorter six-month leases, while others would rather rent month to month so they can move quickly if needed. Think about the needs of your target audience and decide whether these shorter-term rentals are a better option for your rental property.

Furnish the Property

This is especially beneficial if you are considering short-term leasing, such as for business people who may be staying for a contract period. Some businesses will even rent properties with furnishings and move various business people in and out as their contracts dictate. If your property is located close to a college, providing furnishings can make your rentals more appealing to students who may be looking for alternatives to on-campus housing. There are many reasons individuals may be looking for furnished rentals that provide most of what they need. All they need to do is bring themselves, their clothes, and personal effects. Before you furnish any apartments, though, take a look at other local furnished apartments so you can remain competitive. While furnishing your properties is costly at first, it can pay off in the long run.

Add Extra Amenities

People are always looking for things that make a rental property stand out. Consider adding some extra amenities to make your rentals more attractive than the alternatives. Alarm systems, for instance, are an excellent addition, especially in more urban properties, to not only give your tenants greater peace of mind but to show them you are putting in the extra effort to make their stay in your property more enjoyable.

When investing in rental properties, it’s crucial to find the best ways to ensure a steady flow of income. Thinking outside the box is essential to your success. When you consider these ideas and come up with a few of your own, you can make your rental property truly stand out.

Differences in Arizona Fix and Flip Loans

Fixing up and flipping a house can be a lucrative investment, but first you need the investment. In the state of Arizona, many savvy investors use what are known as “fix and flip” loans to purchase and then quickly renovate a property to get ready for sale.

Keep reading to learn more about fix and flip loans and to determine what type may be the right choice for you and your project.

Why a ‘Fix and Flip’ Loan?

You may be wondering why you should consider a fix and flip loan as opposed to a regular bank loan. Well, fix and flip loans actually come with many advantages over traditional loans.

To start, fix and flip loans are intended for shorter designated periods of time and can even be approved faster than traditional bank loans. Experienced fix and flip lenders also do not require as much background investigation or have as stringent qualification standards as traditional banks, giving people a greater likelihood of getting approved.

Types of Fix and Flip Loans

There are three main types of fix and flip loans in Arizona. These include the following:

  • Hard Money Loan – this is highly convenient type of loan that is intended for people of all skill and experience levels (when it comes to flipping houses). Funds are approved (within 24 hours) and received quickly, allowing projects to get underway fast. While these types of loans do often come with higher interest rates, they usually include shorter terms that many people use to make a profit off of their house quickly.
  • Home Equity Line of Credit loan – A Home Equity Line of Credit or “HELOC” loan works kind of like a credit card. The investor is given a designated line of credit that is based on their existing property’s value. While the project is underway, interest is only charged on the amount borrowed during the credit line period. Now, it is important to note that this type of loan usually comes with repayment terms that may not be right for everyone: interest-only payment for the initial 5-10 years, followed by both interest and principal payment. Furthermore, while interest rates are lower, approval can take up to a month or longer.
  • Bridge Loan – This is a temporary short loan that is used only during the gap between real estate transactions. In other words, you can purchase a house you intend to flip without having to sell another property first. Interest rates are usually mid-range, but it’s worth pointing out that this type of loan often results in the investor having to pay two mortgages at once. And while the loan period is shorter, approval time may still take a bit longer than a hard money loan.

Which Loan is Right for Me?

The right kind of fix and flip loan for you will depend on a few different factors, namely your personal experience in flipping houses, the amount of time you have and the type of property. For example, those who need to close extremely quickly may benefit from a bridge loan, while those who need longer terms may look to a HELOC loan.

Nevertheless, hard money loans will be the right way to go for many due to this type of loan’s lenient requirements and fast approval / fund delivery. If you already have your project planned out and need financial assistance fast, this will likely be the best choice for you.

Are you ready to learn more about how a fix and flip loan can get your project underway? Contact the experts at Barrett Financial Group today!

Arizona Fix and Flip Tips

Fixing up and flipping a house is a great opportunity to make a substantial profit, but only when it’s done right. A lot of people get into this business thinking that a few coats of paint and maybe some new fixtures is all it takes to flip a house for a fast profit, only to find themselves either stuck with a property they can’t sell or construction and repairs they can’t finish. And in booming real estate markets like Phoenix AZ, it can be a simple matter of ignoring the local weather conditions the property is in and not making repairs accordingly.

If you have no prior experience in fixing up houses, you may want to consult with an experienced contractor. That said, it is possible to take things into your own hands if you’re willing to put in the time and effort required. In Phoenix (and other parts of Arizona), you’ll also need to take into account the hot and arid climate before making any repairs or modifications.

Here are some tips you can follow to make sure your fix and flip job is done right:

Install Drought-Friendly Appliances

As anyone who’s lived in Arizona for a while can tell you that droughts are common. You’re probably already planning to put in some new appliances to up the property value, so why not boost your house’s appeal more by installing some water-saving appliances?

The good news is that there are more water-saving appliances available these days than ever before. The main ones you’ll likely want to look into are low-flow faucets and shower heads, as well as double flush toilets (toilets with different flushing power available).

Consider Alternatives to Water-dependent Plants and Lawns

We all want great curbside appeal, and the front yard is a huge part of that. In some cases, it can be more of a selling point than the house itself. But here in the Phoenix region, it just doesn’t make sense to invest in a lush green lawn with grasses that require heavy watering, nor is it worthwhile to have a lot of other foliage that requires a lot of water to survive. So, stick to plants that thrive in desert climates like cacti, California lilacs, yucca plants, etc. Some examples of drought-resistant glasses include Bermuda grass, Buffalo grass and Bahia grass, but there are actually a surprising amount of low-water varieties out there.

You may also want to user stones as decoration or even tasteful, contemporary ornaments for extra pops of color. If you really want to boost the home’s value, look into building in tiered plant or rock beds (adding dimension can add just as much value or even more than a traditional open lawn).

Make Ventilation and Interior Shade a Priority

Especially in hot, desert regions like Arizona, the home should serve as an oasis against the bracing heat and dry air. Buyers will flock to your house if air flows freely through it and they can escape the dangerous temperatures outside.

With these things in mind, you may want to install new windows or a sliding door that allow for plenty of air flow. Take a look at the existing ventilation system too, as it may be due for some updates.

Putting in some nice thick doors will also help keep the house insulated and cool. They will also instantly add much-desired value to the property, especially since this is an area where a lot of people tend to skimp on.

To make sure the house is kept as comfortably cool as possible, make sure that the walls are properly insulated as well. A lot of buyers will also appreciate it if the windows already come with some good quality shades or blinds that block out bright sun and heat.

Make Sure You Have the Finances You Need to Complete Your Project

One of the biggest things you can do to ensure a successful fix and flip project is to secure the financing you need ahead of time. Hard Money Lenders Arizona makes it easy, with fast approval rates and a simple application.

Have more questions about how you can make your fix and flip house ideal for the Phoenix market? Or just want to get started already with your investment? Contact us at Hard Money Lenders Arizona today. We’re here to help make your house flipping dreams become a reality!

Tips For Estimating Arizona Rehab Costs

Flipping houses is an exciting and lucrative business – if you’re good at getting the right estimates of rehab costs. If you want to be a pro, you need a system. This comes with experience and after some time, it will be easy for you to walk through your fix and flip project and quickly and precisely asses the rehab costs, including labor and materials. Keep in mind, however, that material prices fluctuate over seasons. There are so many variable, steps, choices, and work that goes into a rehab project that you’ll want to make sure you do it right – right from the beginning.

Ready to learn the tips and tricks of the trade that will turn you into a pro? Read on to find out.

Material Costs

After your walk through, make a list of the materials you need and visit your local supply stores to compare prices on paint, tile, flooring, lumber, windows, doors, and more. From here, you can contact local lumber yards or other stores to find competitive prices. Expect to shop at a few different stores. You’ll probably find yourself buying paint from one store and lumber from another. Keep in mind that there’s a difference between working with the big box stores and specialty stores. For one thing, the owners of specialty stores are “specialists” and have the expertise to help you pick the right materials. Not everyone working at big box stores fits into this category.

To save money, talk with a manager about membership benefits and pricing. The more work you do, the more chance you’ll have of negotiating a better price for your materials.

Time is Money

Have you ever replaced a roof or renovated a full size bath? Do you know how long these projects take? If you’ve answered “no” to these questions, take a step back and do some research before you tackle a rehab project. For example, installing a new roof should only take a few days, but there are contractors out there who will tell new investors that it will take two to three weeks. In fact, many projects can be done quickly on a rehab flip. That’s why it’s important to know the exact time it should take for a project – you are paying labor costs after all! – before hiring a contractor.

Base Estimates on Function and Category

Typically, you would think to categorize your expense by project. You’d add up everything needed for the kitchen remodel, the master bath renovation, etc… But this method isn’t the best way to go about a rehab. Instead, list by function and category, like plumbing, flooring, electrical, and windows. Put it into this perspective: you don’t hire a kitchen contractor. You hire a plumber. You’ll hire a carpenter to do your trim work. An electrician to do your electric work.

Once you draw up a Scope of Work using this method, you’ll easily see the flow of the project and what order it needs to be done in. This will help you know whether your contractors are on schedule and what materials to have on hand and ready to go.

Don’t Forget the Finishes

After knocking down walls, ripping out countertops and putting everything back together again, you’re done. But hold on, don’t forget about trim and finishes. All that work you put into your rehab project still needs some added touches. In fact, these extras add value to your property, make it more desirable to buyers, and overall improve the aesthetics of the property. This means that when you’re creating a Scope of Work sheet, you’ll want to include estimates for things like doorknobs, door stops, outlet covers, baseboards, and miniblinds. This is a somewhat expensive part of the rehab process, so it’s important to have it properly estimated for materials and labor in the beginning.

If you’re new to flipping properties, it’s always better to start with a smaller project rather than a gut job. This way, you can ease into learning about calculating the costs of a rehab project and scheduling the contractors you’ll need to help get the job done. Take heart, however, by knowing that the learning curve for flipping properties is steep. It won’t take you long to figure out how to work this system and turn every rehab flip into a profit. Finally, prepare for the unexpected. Every job will hold a surprise for you so be sure to have a contingency budget tucked away.

Arizona Hard Money Loans: A Step By Step Look

While most individuals go through a traditional bank loan process in order to buy a home, those who purchase homes for investment purchases often turn to other alternatives to fund their ventures. This is because banks often have stricter policies regarding the amount of money you make and how much they’re willing to lend you. When you purchase homes for the purpose of renovating and reselling them, this can make buying the properties you need difficult, if not impossible. This is why many real estate investors are turning to hard money loans in Arizona to fund their purchases. These loans are obtained from private individuals or organizations, making them somewhat easier to obtain and providing more flexible terms and faster turnaround times. Because these loans use the property as collateral, there is little risk to the lender or the investor, making them an excellent choice for real estate development investors. How does this process work?

Determine Your Goals

First and foremost, you need to determine your goals as a real estate investor. Are you looking to do this on the side for a little extra spending cash? Do you want to make this your full-time job? How many homes do you intend to purchase and resell and in what timeframe? Establishing your goals and writing them up as a business proposal are critical in getting the funding you need. The property may serve as collateral, creating less risk for the lender, but that doesn’t mean they don’t want to know what you intend to do with the money they are providing. The more detailed your goals and plans are, the more likely they will believe in your project as much as you do. It’s typically best to have a property in mind, providing the location of the property, your estimated budget for the project and how much you’re aiming to resell the home for. If you’ve done other projects in the past, before and after pictures can be useful as well. All this information is invaluable in giving the lender peace of mind.

Locate Lenders

Once you have your plan in place, you can start actively pursuing hard money lenders in your area. If you know others who are involved in these types of projects, ask them for referrals. Local real estate clubs and other similar organizations can also be valuable resources to find hard money lenders in your area. When you find lenders to consider, chances are they will want to do some research of their own before even considering your proposal. This means they may look into your background a bit, although they won’t be as concerned about your finances and credit as more traditional lenders. They will also want to research the property you’re considering, so they can get a good idea whether it’s likely to return on the investment as you hope. After all, the property is what secures the loan and ensures they get their money back as promised.

Fill Out an Application

Although the process is different from traditional bank lending, you will still need to fill out an application if you want to apply for a hard money loan. This application allows the prospective lender to look at your credit report, as well as any other necessary financial information to help them make a sound decision regarding whether to loan you the money. While these factors certainly aren’t the most important in these situations, they do still need to be taken into some consideration. In essence, you will work with your hard money lender as a partner in the project, which is what makes this type of lending so different from your traditional loans. The lender should be interested in your goals and what you plan to do. If they aren’t, they likely aren’t in this business for the right reasons and you may be better off looking elsewhere. Once they approve your application, the loan goes through the underwriting process, which is similar to that which is used for traditional loans.

The Underwriter

In simple terms, the underwriter is the individual who assesses the level of risk to help lenders decide if providing the funds is the right option for them. After all, the loan is no good to them if the individual taking it out won’t be able to repay it. They will approve the loan based on the value of the property, your credit and your capacity to pay the loan back. Property value is the most important factor in the calculation of hard money loans.

Closing

The final step in the process of obtaining a hard money loan is the closing. This is the time when you and the lender will sign all documents related to the terms, including payment terms, amount of the loan and more. An escrow agent should be used to ensure everything is in order and ready to go. Once all the paperwork is signed, you’re ready to begin renovating the property so you can turn it around as quickly as possible.

Advantages of Arizona Fix and Flip Loans

Real estate investors with varying levels of expertise or poor credit often look to Arizona Fix and Flip loans for financing. Acquiring an Arizona Fix and Flip loan offers several advantages over other conventional loans. While the structure of Arizona Fix and Flip loans may vary, many real estate investors choose them because you can count on fewer federal regulations and an easier overall application and approval process. In addition, these loans allow you to receive a 40% to 50% return on investment with little cash down and no other upfront fees.

The approval process for Arizona Fix and Flip loans are generally less restrictive than loans from banks. This helps reduce the chances of missing out on a great investment and ensures you can start your project right away. These loans are ideal for investors who understand the market, the renovation process, and the details of the loan agreement. Here are a few things to consider ensuring your investment is a successful flip and not a flop.

Research the Community

You will need to have a plan before the application process begins. First, you will need to find property that you are interested in. After pinpointing a property of interest, you will need to spend time doing your own research so that you are familiar with the neighborhood. When analyzing a neighborhood, it is wise to consider the school system or reputable alternative school options available. In addition, keep in mind the importance of reliable public transportation. Finding property that fits your budget in an area close to metropolitan areas with commuting options is a great asset, as well.

Calculate Potential Worth of the Property

To help determine how much the property is worth or potentially worth, consider doing a comparison of recent homes that are currently for sale or have recently sold in the area. You want to invest in property that gives you great returns after making necessary renovations. Knowing the retail value of surrounding homes and the cost of necessary renovations can help determine if the property is worth an investment. Banks are generally not interested in the potential value and often steer away from property in need of renovations. Arizona Fix and Flip loans are designed with a future mindset and are interested in what the property’s future value could be.

Assess How Long the Project Will Take

Depending on the size and scale of the project, flipping a house can often be a short or lengthy process. This makes a loan with flexible terms an important element in house flipping. Whether it is a complete fixer upper or a few minor repairs, fix and flip projects often come with a few surprises or setbacks. Arizona Fix and Flip loans, often structured with longer repayment periods, provide investors with a cushion for delays or unexpected repairs.

With flexible terms, fast and easy approval, quick funding, and low interest rates, Arizona Fix and Flip loans let investors take advantage of a great real estate market while making the fix and flip process both easy and hassle-free.

How to Make Money in Phoenix Apartments

Are you considering using a fix and flip loan for an apartment? If so, it’s essential that you develop a strategy first to ensure you are able to pay this loan off as soon as you can. Here, you can learn more about finding and utilizing the right deals, along with what you need to know to correctly value an apartment, while utilizing the various income increasing strategies to help you maximize the overall value of the apartment property that you purchase so that you are able to easily earn a profit and pay of your loan’s balance.

Before taking out a loan to flip an apartment successfully, it’s important to find the right property.

The process of finding the right apartment properties to flip is somewhat challenging. The majority of apartment buildings are being sold off-market. After all, landlords don’t want to alert their tenants to any potential changes in the ownership of the building, and as a result, they avoid posting a listing of the property for sale. Therefore, to find these apartment properties that are for sale, you should contact local real estate brokers. These individuals can let you know what properties are available.

Once you find the possible property that you can flip, you need to make sure you consider the following:

  • Is the property in extremely dilapidated condition? Is there a need for physical improvements right away? If you are able, make the improvements needed, and then you can immediately increase the value of the property and resell it to earn a profit.
  • Think about any outside factors that may increase the value of the property in the near future. For example, are there any new public amenities such as schools or hospitals ready to be constructed nearby? If yes, then you may not have to spend too much of your own money to see the value of the property appreciate.

The primary difference in flipping an apartment versus a typical, single-family home is the valuation. Most residential properties are going to be valued on comparable sales, which limits the possible returns earned from the residential flips. With a commercial property, such as apartments, the income generated by the property will determine the value. As a result, the possible returns from an apartment renovation may be quite large, based on how much you can raise from the property.

When it is time for you to value an apartment building, the value is typically set based on the current market cap rate and then divided by the revenue generated each year from the property. If you have an apartment that is earning $120,000 in income each year, and the current cap rate is approximately five percent, then the outcome is going to be $2.4 million dollars. While the nuances of this particular valuation process aren’t covered here, it gives you a general idea.

Before you take out any loan, it is important to know how you are going to pay it off. It’s also important that you can earn a profit by resulting in the property’s value to appreciate as fast as it can. When you are dealing with apartments, what is the fastest way for you to increase the value of your property? Raise the rent.

Raising rents that are exceptionally low is a great way to start and one of the most affordable and fastest ways for you to increase the value of your apartment, which is going to help you quickly repay the loan.

How To Get Into Arizona House Flipping

House flipping can be a very lucrative and rewarding business if you have the know-how and are willing to put in time and effort. This corner of the market has exploded over the past decade (largely thanks to reality TV shows on house flipping), as more and more people have gotten into buying older homes for cheap with the intention of renovating and selling them for profit. Arizona in particular is a great place to get into house flipping, as the real estate market in general is strong but still has plenty of older, decrepit properties being listed for cheap.

The good news is that just about anyone can flip a house, even if they don’t have prior experience. All it takes is dedication, a little creativity and of course, some investment up front. In fact, many people who start with just one house end up doing it again and again because their experience was so rewarding (financially and, very often, personally). We’re here to help you with the financial investment that flipping houses often requires, but in the meantime here are some tips you can use to get into flipping houses and turn your venture into a success.

Keep Doors Open

There are a lot of ways to find great opportunities right here in Arizona for house-flip projects. If you want to explore a lot of low-price options in a short period of time, it is a good idea to enlist the help of a realtor. Otherwise, you can find a great deal on your own if you’re willing to put in the legwork. Using websites like Zillow is one way to find cheap listings in the area of your choice, and it is also possible to get one through a foreclosure auction. If you do find a house online, just be wary of sending money online or being asked for a check without seeing the property in person and without a realtor involved. Always do your research, which of course brings us to the next tip…

Do Your Research

Whatever you do, don’t jump to buy the first cheap house for sale without knowing exactly what you’re getting into. After all, some people make the mistake of buying a cheap house, investing a lot in renovations, then pricing it way too high for the neighborhood it’s in. Likewise, some people don’t go as far as they should with the renovations, and the house still ends up looking a bit run-down in comparison to its neighbors. No matter how the house turns out, it just won’t sell (or at least not for as much as you want it to) if it no longer fits in with the surrounding area.

Don’t Neglect the Exterior

All of your hard work on the inside of the house won’t matter much if you can’t even get prospective buyers in the door! After all, many people tend to drive by houses for sale before they decide to take a tour up close, and there’s no easier way to turn someone off from this idea than to have an unappealing curbside view. The outside of the house should therefore be inviting, and any lawn should be well-kept. If there are any trees or hedges, they should be trimmed and far from unruly. This of course includes cleaning up and properly disposing of any remaining construction / renovation tools.

Another great way of making sure the outside complements all the great features the inside has to offer is to add pops of color. All too often forgotten, for example, is the mailbox (if applicable). Installing a cute, unique mailbox is always a great idea, but at the very least you should give it a fresh coat of paint. Other ways of adding touches of inviting color include a brightly colored door (as long as it does not clash with the rest of the exterior colors) and / or window shutters.

Don’t Over-Do It

When you’re looking to flip a house, you should first look at what the property does currently have to offer. After all, why spend a lot of time and money on large-scale renovations when you don’t actually need to? Sometimes a house just needs to be updated rather than fully renovated, saving you a lot of unnecessary time and money in the process.

Slow and Steady Wins the Race

It’s healthy to set timelines and goals for yourself, but it’s never good to rush things. Be realistic with the amount of time you’re going to need to flip the home. It’s important to not rush through the project, as then you risk having to list the house for far lower than you planned. Take the time to actually execute the renovation properly and ensure that the value of the property increases as it should.

Don’t Be Afraid to Ask For Help

We all need a little help sometimes. If the house needs some extensive renovations that require more than a coat of paint or other basic modifications, it’s a good idea to consider going with a professional contractor or at least enlisting the help of someone with more experience. When it comes to actually putting the house up for sale, you may also want to sell through a realtor or consider hiring a professional stager to ensure the house is in show-ready condition. Arizona has a booming real estate market, and so the good news is that you can hire the professional help you need without spending a fortune.

And of course, if you need any assistance on the financial front, Barrett Financial Group is here for you. Please feel free to reach out to us to learn more about how we can help you achieve your house flipping dreams.