Flipping Properties


FLIPPING PROPERTIES

  1. FINANCING good credit score/low interest rate, alternative/creative financing,renovation funds.

  2. EXPERTS realtor, title attorney, contractor, accountant, home inspector, insurance agent

  3. FAMILIARIZE yourself with the area. Know what is most desirable and what sells quickly. School districts, crime stats, employment opportunities, amenities.

  4. REPAIRS Understand cost of materials, labor, construction codes, time estimates. Kitchen and bath renovations bring the most bang for your buck. Avoid homes w/ structural issues unless you are a seasoned investor.

  5. PROXIMITY to your home or work so you can keep an eye on the progress unless you hire a good general contractor.

  6. EMOTIONAL purchases may cause you to over pay. Keep your eye on the bottom line and gear your purchase/sale toward mainstream buyers.

  7. RENTAL of the property must be taken in to consideration in case you can’t sell.

  8. FORECLOSURE OR SHORT SALE purchases may bring higher profits depending on the level of repairs needed.

  9. 1031 EXCHANGE can defer taxes. Hold for at least 12 months as a rental before exchange.

Dwell NOLA Realty 504-301-2400 3500 N Hullen St Metairie, LA. 70002. Traci Kestler and Stephanie Campani, licensed in Louisiana.

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