With property values increasing year-over-year here in Southwest Florida, I’m finding more and more of my clients are asking me about investing, and one way that’s popular is through flipping homes in our area. Not only are many of them incredibly affordable, you can also hone in on exactly what can be done rehab-wise to greatly increase their value. As our market grows and develops, I’m seeing numerous opportunities for market-savvy individuals to flips homes in SWFL.
Because I’ve built my career on flipping homes, investing in properties, and consulting clients on how to do it, I’ve learned several lessons along the way. I’m passing a few of those tips on to you today so that you can begin your journey into real estate investment. Our market remains uniquely poised for investment opportunities if that’s what you’re looking for.
Choose Your Contractors with Care
In most cases, you’ll be looking for a team of professionals to come in and help you rehab a home. Moreover, just as you probably wouldn’t hire just anyone to work in your own home, you should be cautious of whom you let rehab your flip. Here in Southwest Florida, I have an extensive network of professionals at the ready, ones I’ve worked with and trust, and I’d be happy to provide a contact for you.
Research the Upgrade Trends
Should you add stainless steel appliances in the kitchen? What about dark green tiles in the bathroom? These questions are great questions that anyone who flips homes asks themselves. But for those investors who are new to the game, it can be a daunting task choosing which upgrades to focus on. And of course, which ones will give you your most bang for your buck. For this one, it’s best to carefully study the current trends and data behind each upgrade you’re considering.
Stage that home in SWFL!
Another common mistake I see when flipping homes in SWFL are forgetting to stage the home properly. Sure, an empty house might sell, and there’s nothing that says you have to stage your property. But when flipping, going that extra mile to properly stage the home can make a true difference, both in terms of time-to-sale and money-in-pocket.
Remain objective during the process
Finally, depending on how long your project lasts and your personality, it’s easy to get attached. After all, taking a home from shabby to chic involves a lot of investment. This means that it can be hard to let go… or to think that market price should be much higher than comparable sales in the area. The best advice I can give for this one is to pair up with an expert who has flipped homes. They can provide an enormous insight into your decisions during the project.
Are you ready to flip a home in SWFL, but need that expert advice? I’m happy to consult on a flip in our area and to provide my decades of experience in investing and flipping homes. Just send me an email!
Terry Records
Broker/Owner
Records Results Real Estate
Residential Sales and Property Management Service