A psychology student at Pennsylvania State University, Hayley Ninnis is also a bookseller and vintage clothing expert. As part of her passion for vintage items, Hayley Ninnis is currently renovating a 19th-century house to flip it for a profit.
Whether you are an expert house flipper with several successes or a first-time house flipper looking for a quick flip opportunity, there are a number of tips to keep in mind when approaching the experience. -Fix common issues. A simple way to add value to a home is to make the changes that tend to catch a buyer’s eye first. Power-wash, paint, or tuck-point the exterior of the house as necessary, including the doors. Inside, the kitchen and bathrooms are a good place to start. Replace the faucets and sinks, as these are usually problem areas. Move room to room, cleaning and replacing the biggest issues and moving on from there. -Wait for the right opportunity. Flipping a house involves more than making necessary renovations and repairs. You must also find a buyer for the property. Before purchasing a house to flip, know the state of the local market and be sure that it can support the margin you will need to make a profit. Being patient and doing research can pay dividends. -Secure financing. Whenever possible, save and pay for the cost of the house out-of-pocket. This frees you from longer-term commitments and interest rates. If that is not an option, make a large down payment to lower the interest rate and payments. Finally, keep the actual flip costs in the budget when securing financing.
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AuthorA psychology undergraduate at The Pennsylvania State University, Hayley Ninnis seeks to combine her psychological training with her background in art and yoga. Archives
June 2022
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