When Finding a Home to Flip in Georgetown TX
Know your plan of action.
~ The project should be planned to the very last detail. By the time financing was secured, a timeline and schedule of events was set, finishes for home were chosen, and the team was in place for demo and finish out. What about a budget? That was completed PRIOR to securing financing.
- A solid performing neighborhood is a must.
~ A serious knowledge of the immediate and larger neighborhood market is required to pinpoint this type of location, and it is not usually as easy as you might guess. Finding the property, approaching and working with a seller who is not listed in the MLS can be intimidating and challenging – while also worth it!
- No Time for Lazy when flipping a home.
~ Whether it is your own home you are improving on a timeline to list in the MLS or a project you are working to sell in the next 6 months, staying on task is essential. Know your timeline and execute it as planned and you will make money. Not sure what is next or falling behind schedule costs time. Especially when carrying the cost of the property, its insurance, taxes, mortgage and utilities, time equals money.
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