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MJ DeMarco
I followed the science; all I found was money.
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Question for all you house flippers out there ...
In your experience, what specific problem areas constitute the house flippers jackpot? What I mean is, what areas of concentration make a house a great flipping candidate? Besides the discount, when you examine a house, what criterion makes it a great candidate?
For example, if I'm looking to flip a house, my logic would tell me to look for homes that need inexpensive "Visual" updates like:
1) Needs paint (cheap, visual impact)
2) Need landscape cleaning (good value return, visual impact)
3) Need flooring (relatively inexpensive, big visual return)
What are the "jackpot" items that immediately make a potential flip a buy ....things that make ya say "Oh yea!" Things that can be renovated inexpensively and have the most bang for the buck?
And conversely, what are the "money pits?"
1) Needs new A/C system (this change is not visually seen and is expensive)
2) Foundation (Again, not visual and expensive)
3) Cabinetry? Countertops?
What "this house needs this" will make a flip an unworthy candidate?
In your experience, what specific problem areas constitute the house flippers jackpot? What I mean is, what areas of concentration make a house a great flipping candidate? Besides the discount, when you examine a house, what criterion makes it a great candidate?
For example, if I'm looking to flip a house, my logic would tell me to look for homes that need inexpensive "Visual" updates like:
1) Needs paint (cheap, visual impact)
2) Need landscape cleaning (good value return, visual impact)
3) Need flooring (relatively inexpensive, big visual return)
What are the "jackpot" items that immediately make a potential flip a buy ....things that make ya say "Oh yea!" Things that can be renovated inexpensively and have the most bang for the buck?
And conversely, what are the "money pits?"
1) Needs new A/C system (this change is not visually seen and is expensive)
2) Foundation (Again, not visual and expensive)
3) Cabinetry? Countertops?
What "this house needs this" will make a flip an unworthy candidate?
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