20. How To Flip A House From Start To Profits

How To Flip A House From Start To Profits

 

Are you ready for a new adventure? Well so am I. In my blog “The Mighty Investor“, I went through the process of getting a house to flip from the absolute beginning (building a website), to purchasing the house. I had no idea how quickly it would work, but it did. As promised I wouldn’t stop there. I will continue on this blog how I am going to flip houses with hopefully a ton of profit. As always, this is more of a diary blog. I write as things develop, I have no idea if there will be a happy ending… but I do hope so. So let’s do this. How To Flip A House From Start To Profits.

So here we go…

Here is the skinny. We created a website to target a specific city in Connecticut. We wanted to give the people in Putnam a way to sell their house fast for cash in Putnam CT. We did our on-page and off-page SEO. After that is set up, you would normally just wait (and continue doing SEO work) until someone finds your page and fills in the form. But who wants to wait! As the site will age and rank, we decided to speed things up and force traffic to the site by placing craigslist ads. If you want to know which ads we used to go to The Mighty Investor Blog, where I share all the details.

OK, So We Bought A House & Are Ready To Flip It

The house is in bad shape. Gutted down to the studs.

The challenge is that now there are no rooms. Just a shell.  So I will make a list of things to do.

1. Get insurance
2. Get a good contractor
3. Design the layout

There is a lot more to do but this will keep me busy for now.

Random Tip Alert: Landscaping

Also, I have learned a lot from my previous flip. So I will also share some really cool tips I came up with to keep things cheap.

Landscaping is expensive. In lowes/home depot, a miserable little flower plant is about 7 dollars. You will easily buy 50 or more plants if you want to do significant landscaping. Significant landscaping should be defined I guess. I have seen flippers spent minimally on curb appeal. BIG mistake. A little plant here, and a second one there, a bit of mulch and call it a day will not get anyone impressed. From our Clinton flip I have noticed that if you go beyond what’s expected on the little things, it has a HUGE effect on a potential buyer. They feel like “WOW if you didn’t skimp out on a little thing like curb appeal and you went “All-out” I bet you didn’t skimp out on the finishes inside either”. Again, this is not theorizing. This is what I have directly have experienced. So you can either allocate 3-4K to landscaping, or you can invest in a bunch of cheap pots and some first and grow your plants from seed. You may think that this is so much trouble just for plants. And it is OK to think that now. But let’s wait 4 months when the house is done and you have a luscious supply of plants waiting to make the house look spectacular from the outside.

Besides, if you ever flipped a house before you will without a doubt KNOW how expenses add up QUICKLY!! Any way you can save a bit of money will be great! If you all have more tips please let me know I will put them here in a list.

Next Up:

How To Protect Yourself Hiring A Contractor!

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