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Showing posts from August, 2013

Home DesignHow to Prevent your "FLIP" from Becoming a "FLOP"

�Flipping� a house or buying a home, fixing it up and reselling it right away is something almost everyone I talk to has thought about doing at one time or another.You may have even dreamed of making it rich this way.People watch TV shows like Flip This House, Property Ladder and Flipping Out and think to themselves, �Hey, I could do that!�Many people try, but few succeed.So, what determines if a project is a successful flip or an all-out flop?

The key to a successful flip is having the right team in place.You need to have a knowledgeable realtor with foreclosure and short sale experience, a reliable lender who can actually lend money for properties that are not considered fully habitable, a design professional who can guide you into making the least amount of modifications for the most impact and a series of contractors and sub-contractors who can get the work done in a timely manner without sacrificing quality.Of course, this is easier said than done.

The home we were buying was a for…