If you’ve got cash to spare or a property or two already on the market, maybe you’ve considered getting into house flipping. If the numbers add up for you, it can be a great way to start multiplying your worth and helping to turn decrepit properties around. Novices might be intimidated, but thankfully anyone can get into California house flipping.
Population trends on the coasts show that people are moving from the center of the US toward one of the edges. That means that any of those foreclosed and poorly tended properties on the market could hold serious value if given a little TLC.
If you’re a handy person or you know some potential business partners who are, you could whip a dusty old property into like-new shape in no time. If you want to get into California house flipping, just follow these 5 steps.
1. Buyers Start from the Curb
While you may have invested in some great finishes and flooring, your buyer won’t even see that if they’re turned off by the exterior. Your lawn should look ideal if you want to get people in the door.
Trim your trees, keep the lawn mowed and get those hedges in order. It could be a good investment to hire a landscaper to tidy up the lawn to get everything looking right. Nothing says “home” to your potential buyers than a lush green lawn they can imagine walking across when they pick up their paper in the morning.
The whole exterior of the house needs some consideration. The front door is a sort of focal point for the entire home. Think of adding a fresh coat of paint or a new coat of shellac. Replace the door altogether if necessary.
A door with an interesting color is memorable when home buyers are out looking at a million potential homes. Think about taking a risk.
Shutters, windows, and gutters need to be in tip-top shape. You might have to have the entire house repainted depending on its condition.
And don’t forget the mailbox. A cute mailbox that matches the theme of the home could end up adding some flair.
When potential buyers drive by, be sure they see a thriving lawn that’s free of clutter. Add some small annuals around the hedges for an extra bit of color and flair. Fresh mulch can go a long way in making your house look ready to live in.
2. Make Sure It Fits
The first place to look for tips on your exterior is to take a look at the other nearby houses. While you want your house to look unique and memorable, you need to maintain the scale of the neighborhood. If it looks a little shabby compared to the houses nearby, it’s going to stick out like a sore thumb.
People might not feel confident moving in, no matter the price.
Don’t overdo it with bells and whistles either. Some lawn sculptures or luxury upgrades could end up making the house look amazing. However, if you’re in a cheaper neighborhood, you could end up inflating the price so that it’s too expensive for the neighborhood.
A house that costs too much could be difficult for homeowners to sell at a later date. Be aware that too high of an upgrade can price you out of potential sales and make getting a private loan a challenge.
3. Take Your Time with Renovations
If there’s a room in the house that you know needs some work, don’t keep showing people around hoping they won’t look in that room. It’s time to tackle the project. You’ll end up being able to get more money for the home in the end.
A bathroom or kitchen that’s desperately in need of renovations should get them. And when you’re done, show it off.
That is, so long as you’ve done your job right. Be sure to take your time when laying out tile or adding new cabinets. Don’t skimp on materials, because it will show.
And if you absolutely don’t know what you’re doing with a project, ask for help or at least watch some online tutorials. The difference between crooked tiles and straight tiles could be the difference between getting your asking price or having to compromise on something lower.
4. Minor Upgrades Go a Long Way
The key to California house flipping can sometimes be in the number of upgrades, rather than the intensity of renovations. There are some standard cabinet hardware and light fixtures that all contractors will put in because they’re the cheapest. Replace any of these or suggest inexpensive upgrades.
The price difference between the minimum and upgraded fixtures could be cents on the dollar but add up to major perceived value for buyers.
If you want to upgrade your kitchen appliances, look for gently used appliances from high-end companies. Sometimes a name brand can go a long way. And the long-lasting quality will be a selling point for buyers.
5. Set the Stage
If you’ve never sold a house before, consider hiring a professional stager. They’re common in the world of California house flipping and can charge less than 1% of the total price of the house.
Stagers know how to make your house look partially lived in without making it look messy. A completely blank canvas is difficult for buyers to project themselves into. A partially lived-in space will help buyers imagine living there.
There are touches and flourishes you’ve never imagined that a professional stager will be able to add that could seal the deal.
California House Flipping is an Art
If you’ve got a creative mind and the talent for managing simple home repairs, California house flipping could be in your future. By knowing what buyers want to see, you could make enough small changes that your first flips might not even dent your pocket. The gains you make could be exponential.
If you’re ready to start getting into house flipping, contact us for how to start.