Timing is everything when it comes to your fix and flip project. The faster you can turn your project around, the more profits you’ll see. Don’t panic, you can finish your fix and flip projects faster by following just a few simple rules.
Rule #1 Don’t Improve More Than Necessary
Improving more than what’s absolutely necessary is one sure way to slow down your project. House flipping requires you to do more with less, so focus on the major improvements first.
Your potential buyers will look at the property for their own needs and style, not yours. Keep their interests in mind by painting with neutral colors and decorating minimally. Make the property look appealing, but don’t spend valuable time decorating to suit your tastes.
Focus first on the improvements that are required to pass inspection. Potential buyers are smart enough to investigate items that could mean big costs down the road. Take care of things like sewer drainage, roofing needs, and paving improvements before even considering smaller items like doorknobs and bathroom mirrors.
Rule #2 Attract Buyers with the Right Pricing Strategy
Pricing your fix and flip project can be an intimidating process. If you want to sell a property quickly, doing your research beforehand can pay off when it’s time to sell.
Networking with others in the real estate and house flipping business can help you determine a good price that’s attractive to your potential buyers. Ultimately, you want to choose a price that gets people in the door and looking at your property. The longer it sits on the market, the less profits you’ll see.
House flippers can sometimes make the mistake of making a project a matter of personal pride. It’s fine to be happy with your improvements, but don’t let your idea of how much the property is worth get in the way of making a sale quickly. Choose a price based on the current market, not what you think the property is worth.
Rule #3 Choose a Financial Partner that Works Quickly and Efficiently
A financial partner that offers a dedicated primary contact and invoice management services will speed up your project. These perks mean less time wasted waiting for phone calls to be returned or payments to process. Time spent on administrative tasks can add up, so work with a group that helps you manage your resources.
The advanced web-based property tracking software that we’re offering is truly a game-changer in the fix and flip business. It helps house flippers speed up their sales by tracking the status of each property in real-time.
There’s no need to wait on the sale of your flipped property. Follow these simple rules and work with a trusted financial partner like us and you’ll see your sales speed up. Review our Fix & Flip Program highlights and get started today.
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