House flipping is still a profitable way to invest in Santa Cruz County real estate, if you know what you’re doing. I’m going to share one of the biggest mistakes prospective home flippers make and how to avoid it.
Choosing the Wrong Santa Cruz County Real Estate to Flip
Nothing will make your venture into the world of house flipping a bigger nightmare than a finished product that will not sell. To avoid this, learn all you can about what’s currently selling the fastest and for the most money in your real estate market.
It doesn't mean you have to pick expensive homes in up-scale neighborhoods. In fact, those may be the worst properties to try to flip, depending on your market. Typically, there are houses you can flip for profit in every price range.
Choosing the Right Santa Cruz County Real Estate to Flip
The things you need to avoid when buying a home you’re planning to flip are basically the same things you would avoid if you were purchasing that same home as your primary residence. Here are three things to avoid when choosing a home to flip:
1) Distractions that would make living in the home undesirable such as nearby railroad tracks, cluttered shopping malls or major highways.
2) Crazy floor plans that cannot be easily fixed in a quick and inexpensive remodel.
3) Homes with major structural damage. Getting a home inspection is the best way to avoid this. However, if for some reason you cannot get a home inspection, always make provisions in your operating expenses for unexpected major repairs.
If you would like more information on how to turn a profit by flipping Santa Cruz County real estate, give me a call today at 831.662.6522 or for additional information visit my website at www.MySantaCruzRealEstate.com.