Thinking of starting a house-flipping business? Cache Valley Storage has put together a beginner’s guide to help you learn how to find houses to flip and what you should look for in a potential flip. Look through our expert tips to start off your real estate search on the right foot!
The neighborhood you choose is just as important as the house you choose; except the house can be renovated. When you are researching neighborhoods, look for factors that would attract a potential buyer. For starters, you and your buyer will want an affordable cost of living. This will help you determine how much you can purchase the house for initially and how much you might be able to sell it for at the end. Your buyers might prefer to be close to downtown or public transportation if they are working professionals. It is also safe to say families would be in the market for a house in a good school district with low crime rates. Start your research with New Silver Lending’s state-by-state guide to house flipping.
Is it better to find a real estate agent or search yourself? If you are starting this project as a complete beginner, you can use all the help you can get. Find a real estate agent that knows the neighborhoods you are searching well—bonus points if they specialize in working with house flippers! Then continue to search online real estate marketplaces, auctions, and foreclosures on your own time.
The quickest way to eat at your budget is by taking on too big of renovations—whether they are too time consuming, too expensive, or outside your team’s realm of capabilities. Areas that require more expertise than what your team can handle mean that you will need to hire a professional to get the job done. Multiple projects like this will certainly add up, so as you are searching for houses, try to find one with a limited amount of extensive work. We recommend avoiding:
So what do you do after you find your house to flip in Logan, UT? Cache Valley Storage can be your solution for all things storage in the Logan area. We offer five self storage locations around the city to serve you—complete with drive-up storage units and vehicle storage options. As you begin to tackle renovations and organize the fixing-up part of your flip, rent nearby storage space to keep your materials under control and out of your workspace until you need them. Use our online storage calculator to quickly determine the storage unit size that will be fit your needs. Rent or reserve your storage in Logan, UT, online today!
About the Author: Katie Mest is an SEO Specialist at Storage Asset Management in York, PA. She specializes in writing about the self storage industry, including storage tips and helpful resources. Outside of work, Katie enjoys camping, hiking, and exploring the outdoors with her newly adopted Greyhound rescue, Titan.