house flip for proift

I often get asked if there is money to be made in flipping houses as  is witnessed and somewhat glamourized on several tv shows. The answer is yes IF your project includes 5 key ingredients.

  1. You must select the RIGHT property and pay the RIGHT amount for the property.  The right property is one that is a diamond in the rough –  is selling for much less that other renovated properties in the area.  The purchase price must reflect the costs required for renovations, and the profit that you are expecting to realize for your hard work, and efforts.  The renovations should get it up to the neighborhood averages  not create the most expensive house in the neighborhood.
  2. A house flip must be treated as a full time business as it must be done right and quickly.  Time is money.
  3. Do the right renovation for the area.  If you neighbourhood commands 4 bedrooms and you build 3, you may have an issue selling for top dollar.
  4. Do quality renovations.  Potential buyers love to purchase renovated homes with all the bells and whistles however they will want to make sure that you did not cut corners just because you were flipping.
  5. If you can answer yes to the above, you are well positioned to make a nice profit from your flip!

If you are interested in doing a house flip, I can help.  Reach out to me here

Looking for more info?

Get in touch and find out how we can help.

  • This field is for validation purposes and should be left unchanged.

Your email address will not be published. Required fields are marked *

WE’VE HELPED MANY PEOPLE, JUST LIKE YOU

Here’s what our clients have said about working with us:

Peter Matukas

Peter was successful finding his new dream home in Bloor West Village. This meant he needed to sell his current…


READ THE FULL STORY

John & Alicia

John and Alicia have rented, bought and sold with me over the last 5 years – I am always pleased…


READ THE FULL STORY

Lauren & Andrew Poechman

My dad recommended Jody to help us find out first home. My wife and I were just married and needed…


READ THE FULL STORY

READ MORE OF OUR CLIENT RESULTS