House Flipping: 5 Things You Need to Know Before You Try It

Many think of house-flipping as an ideal way to invest money and make a profit. With shows on television in recent years showing people flipping houses and finding success in it, it’s no wonder that people are finding the idea of flipping houses so appealing. However, there are several factors that someone should take into consideration before flipping houses.

Know What You’re Getting Into

Research everything that is involved with buying and selling a house. Get to know property laws and building codes involved with renovating a house. Be aware of any permits that may be needed before you jump in and go looking for places. If possible, talk to a friend or family member who has done it before to get their take on it. Having a mentor or someone to go to for advice will really help you know what you are getting into before you start.

Buy Low

Flipping a house can involve spending a lot of money to renovate the house so that someone will want to buy it. Profit is made when buying the house, rather than reselling it. If someone buys a house for just under the house’s market value, then spends thousands of dollars fixing it up, there will be no room for profit when they finally sell the house. Buying a house at a low price gives more margin for the flipper to work with.

Search Carefully

If the key to making a profit on flipping a house is buying low, then it’s vitally important to search for houses that sell at an extremely low price. Ask around, drive around, browse real estate ads, and look at foreclosure listings, but be sure to do the work needed to find the right house at the right price. Don’t take the first ugly house you see. Look around and even look at different house types in different areas. Compare prices as well as renovation needs and you’ll end up getting a home that you can actually make money off of. When it comes to flipping houses doing research is critical.

Know How Much a House Will Cost to Rehab Before Buying

It’s important to consider all the costs it will take to bring a house into selling condition again before buying. Getting a house inspection before buying ensures the flipper that they know exactly what is wrong with the house and what needs to be fixed. The home professionals who specialize in windows in Orlando suggest that you pay attention to problems with the exterior as well as the interior. Look for things like broken windows, damaged siding, roof issues, and more expensive projects like a crumbling chimney or cracked tile on the kitchen floor. If the renovation costs will be too much to make a profit, then move on to another house.

Utilize a Realtor to Actively Market a Flipped House

Realtors have access to MLS listings, and they know how to market a house to potential buyers. A house flipper could choose to see the house on their own, but they won’t have the resources that a realtor has. You may have the ability to turn an average house into a great home, but that doesn’t mean you will have an easy time selling. Hire someone who knows what they are doing so that you don’t lose out on money while the house sits on the market.

Flipping houses can be a great way to make a profit, but it’s important to approach it cautiously. It’s not as easy as it looks, and learning from others can go a long way. The key will be preparation… Many people jump into this business without knowing exactly what to do and they end up losing money. If you plan to make money flipping houses do all the necessary research and be cautious about all of your choices.

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Back on the market! Orlando Short Sale | 14834 Oldham Dr.

We have the Approval Letter in hand! Last buyers unable to close.  Take advantage of this great Orlando Short sale property. Located in the very desirable University Estates, this gorgeous  2,357 Sq ft. 4 Bedroom 3 Bathroom home with a private pool is move-in ready! It has a spacious open layout and the neighborhood is loaded with great amenities for the whole family.

Close to shopping, restaurants and good schools in the area.

Here are just a few of this property’s great features

* Vaulted Ceilings

* Large master suite

* Solid wood cabinetry throughout

* Large formal Dining room

* Lots of natural lighting

* 2-car garage

* Screened in porch

* Wood Burning Fireplace

* Good School District

 

Great Amenities!

* Community Pool

* Gazebo

* Tennis courts

* Basketball courts

* Playground

Perfect location near UCF, Waterford Lakes Towne Center shopping and dining all with easy access to highway. Hurry Today! This home won’t last for long.

 For more info on this terrific property call us today at 407-902-7750 or visit us at OrlandoRealtyConsultants.com

Orlando Real Estate Broker

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Orlando Short Sale | 1330 Sun Meadow Dr. Orlando Fl 32824

1330 Sun Meadow Dr. Orlando Fl 32824


This property is located in the very desirable subdivision of Harbor Lakes in the 32824 zip code. The gated community with neighborhood Clubhouse and pool is a great home at a great price for any family wanting to live in this area.

It’s a 2 story home with 4 bedrooms and 2 and 1/2 bathrooms and 1,946 sq ft of living space.

Here are just a few of the property’s features

* Large master suite with sitting area

* Open Kitchen with tons of cabinet space

* Vaulted Ceilings

* Solid wood cabinetry throughout

* Dining and great room designed for family gatherings and entertainment.

*Lots of natural lighting

* Huge fenced in backyard

* 2-car garage

* Community Clubhouse and pool

Easy access to schools, first-rate shops, and restaurants. A must-see!

Call to make your appointment, You DO NOT want to miss out on this Great opportunity! BANK-APPROVED PRICE!!

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Another Great Orlando Short Sale

9797 PORTOFINO DR in ORLANDO

This is an Orlando short sale, that will be sold at a huge discount and will be a great deal for anyone wanting to live in this area.


Orlando Realty Consultants is proud to add  9797 PORTOFINO DR in ORLANDO to its list of breathtaking luxury homes. Built in 2003, this 2,476 sq ft. two-story single-family home is located in one of Orlando’s premier neighborhoods, Nonacrest!

A must-see! This is a Gorgeous 2 Story 3 Bedroom/3 Bath Home with a Bonus Room that can be used as a 4th Bedroom. The master Room is upstairs with a HUGE sitting area and Pond View. It’s Breathtaking.

 

With 3 bedrooms and 3 full bathrooms and large common areas, the open layout has an enticing flow to it. Exquisite solid wood cabinetry, exotic granite countertops, and top-of-the-line appliances all come together with amazing attention to detail throughout this gorgeous house.

Check out these features

* Huge master’s retreat with sitting area

* Wide open Kitchen

* Vaulted Ceilings

* Granite counter tops throughout

* Solid wood cabinetry throughout

* High end appliances and fixtures throughout

* Dining and great room designed for family gatherings and entertainment.

* Covered back patio

* 2-car garage

* Large pool with a spacious deck for backyard Barb-B-Que’s and pool parties

Easy access to schools, first-rate shops and restaurants, and close to Orlando’s top medical facilities

So much more a definite must-see!

Call to make your appointment, You DO NOT want to miss out on this Great opportunity! BANK-APPROVED PRICE!!

Are you currently searching for your Central Florida dream home?  Look no further just click on;  search Orlando Luxury real estate and you”ll have access to all the properties listed on the Florida MLS. Within just a few clicks of your mouse, you’ll be searching out Florida real estate like a pro.

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Florida incomes and Orlando real estate continue to rise

Floridians income increase along with their confidence

 

Florida has shown substantial gains on three different areas, Real estate prices, income and consumer confidence. Much of this can be attributed to the overall housing market in Florida. Orlando real estate is a great accelerator when it comes to creating jobs and increasing local incomes, then the next logical thing that happens is a confidence boost. It’s just human nature, when people are doing OK financially they not only feel better about themselves but they become more confident about how much they can spend when house hunting.

I think It’s good that Floridian’s consumer confidence is at it’s highest point in 5 years but potential home buyers still need to be careful. The Orlando real estate market is constantly changing and right now it’s on the rise as it has been for the past 2 years or so. This doesn’t mean that you should buy just any house listed on the MLS. The truth is that many Orlando properties that I see listed are seriously overpriced. Sometimes this is due to the seller wanting to sell for the absolute highest price in the neighborhood because sellers typically believe that the house where they live is special compared to other houses in the same neighborhood, again…just human nature.

 

Short Sale Lenders are sometimes to blame for overpriced real estate listings

As short sale realtors, we are sometimes told by the client’s lender how much to list the property for. Sometimes, no matter how many years of experience we have in selling Orlando real estate, they still think they know more about the local market than an experienced Orlando realtor. I’ve argued with negotiators until I’m blue in the face as far as “fair market value” is concerned and they will still try to tell me how much the property should be listed for. However I quickly learn, usually on the first conversation, whether arguing my point will do you any good. Lenders that absolutely insist on telling me how much to list a property for… in my area of expertise,  I do just that.

9 out of 10 times, the result is that the property spends a lot more time on the market than it should have. With no offers or contracts after several weeks or even months of the property being listed, short sale negotiators will eventually figure out that they’re asking price needs to be lowered, then…I do just that and the property gets sold.

 

 

Sell A house in Orlando

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