This is an interesting video about two women, new to the business of house flipping. They create an amazing transformation and tell the real story of the ins and outs of house flipping, including do’s and don’ts. The video highlights stories of other house flippers, as well.
Things to pay attention to:
- Location – this is the standard real estate mantra of “location, location, location.”
- Market – some real estate markets are better for flipping houses than others. Know your market!
- Budget – many people try to do the work themselves and then when things get complicated they have to hire outside contractors, driving up costs, and killing budgets. Factor in work that you may need to pay for. Plumbing, electrical work, and unforeseen structural repairs can kill your profit plans.
