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3 Techniques to Increase Your Profits from House Flipping

a house flipping expert working on the site

Flipping real estate isn’t a new concept. People have been buying houses, fixing them up, and selling them at a profit for years. Most people that go into the business need to take a very hands-on, high-maintenance approach and learn by doing. It’s a steep learning curve that requires good intuition and smart decision-making abilities.

Of course, some sage advice remains extant regardless of whether you’re just starting out or are an experienced house flipper. Check out these techniques from real estate professionals and house flipping experts that can help you maximize your returns.

1. Set a realistic budget

Don’t wait until you’ve purchased the property to start thinking about the repairs you want to make. Evaluate the selling price of the home, determine what changes you want to make, find out the cost of those changes, and factor time into your decision.

Setting out your renovation plans and budget at the start will not only help determine whether a property is worth the effort but also help you stay within budget. The final price of the house after renovations shouldn’t be higher than the average cost of homes in the neighborhood.

Expert tip: If you don’t have a background in construction, be sure to consult with a contractor about the price of the changes you want to make.

2. Leverage existing spaces

Most house flippers agree that increasing the square footage of a property is an excellent way to increase property value. However, this doesn’t necessarily require breaking down walls to create a larger living room or adding a new bathroom to the floor plan. You can also increase the livable area by putting to use idle elements in the house such as a reclaimable porch, spacious attic, unfinished basement, or unnecessary garage.

Expert tip: Opt for sleek interior doorways for smaller rooms such as bathrooms or pantries to free up floor space that would be used as door clearance otherwise. Try sliding doors or pocket doors instead.

3. Don’t forget curb appeal

Upgrading the home with new lighting fixtures, a fresh coat of paint, plumbing upgrades, and new floors will definitely boost the interior. However, first appearances still play a major role in how buyers view a property, so make sure your budget also includes upgrades to the exterior.

The best part is that you don’t have to splurge on expensive landscaping or re-tiling to grab attention. A fresh coat of paint and trimming down any overgrown shrubs is enough to do the trick.

Expert tip: Define the entrance to your home with a new front door. Iron and steel entryways are an excellent way to make a statement and help your property stand out on the block.

Affordable Steel Front Doors

If you’re looking to enhance curb appeal without breaking the bank, then check out our wide range of stunning iron door designs. Our affordable door selection includes wrought iron doors, modern iron doors, metal sliding doors, metal room dividers with glass, and more options to customize your favorite products.

Browse our iron entry door collection today.

 

Disclaimer: Whilst every effort has been made to ensure the accuracy of this information, Pinky’s Iron Doors cannot be held responsible and/or liable for any errors or omissions. While we strive for accuracy, it is possible that the information on our site may contain errors and omissions. It is also possible articles or any form of written content written about Pinky’s Iron Doors on third party sites may contain errors and omissions. We disclaim any liability for any such errors and omissions. We ask for your assistance in advising Pinky’s Iron Doors of any discrepancies that you discover.

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