If you want to make money buying and selling homes, the best way to do it is to purchase and fix up homes that need a little TLC. However, you need to keep in mind a few tips from hard money lenders, Texas investors, and other financial professionals to ensure that you choose a lucrative project that helps you earn a profit. 

If you turn on HGTV, shows like “Flip or Flop,” and other home flipping shows make it appear that anyone with a brain and a large hammer can purchase, renovate, and sell a home for a profit. However, when you talk to the experts like hard money lenders, Texas realtors, and other real estate investors, it becomes apparent that there is more to making money on a fix and flip than those shows lead you to believe.

While a fix and flip property can be a great opportunity to make money, hard money lenders, Texas real estate agents, and fellow flippers want you to know the ins and outs of the fix and flip trade so you can maximize your profit and minimize your losses. Here are 3 tried and true tips to help you make money by rehabbing and selling a property.

1. Location, location, location. According to hard money lenders, Texas real estate experts, and other financial professionals, the location of your fix and flip cannot be stressed enough. most other issues can be fixed, but not the location. Choose a desirable area and your home will pretty much sell itself.

2. Don’t over-improve. Make sure that you realize that you don’t actually have to live in the property so you can make some compromises. Going with the most expensive upgrades usually means you will end up losing money.

3. Try to re-purpose rather than replace. If you can stain or paint the existing cabinets or move that hideous kitchen island to another location to become a built in desk, you will save money. The more you save, the smaller your chance of losing money.

Once you have decided on a fix and flip, it is time to choose a hard money lender, Texas realtor, and other real estate experts to purchase the home

Dennis Dahlberg Broker/RI/CEO/MLO

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701