Real Estate Investing Video : Flip Tips in Today’s Market, Episode 3
If you missed the first two episodes of the Rio Street Flip, check them out first:
Episode 1 : Due Diligence for 5536 Rio Street
Episode 2 : Kicking off the Renovation
In today’s tumultuous market, flipping properties can be a dangerous game. There are definitely things that every investor should pay close attention to when considering doing a flip.
Here’s a quick run down of what you’ll learn in episode 3, “Flip Tips in Today’s Market”:
- 4 flip tips to minimize your risk in today’s real estate investing market.
- Updates on the Rio Street Flip.
- Why we decided to sheet over one of the doors in the kitchen.
- Changing the configuration of the kitchen.
- Flip tips from Bobby Wallace, leader of the Charleston Real Estate Investor’s Association.
- Flip tips from Wil Christenson, full time investor, entrepreneur, and fellow contributor at MustKnowInvesting.
- Mortgage broker extraordinaire, Julie Blumetti, shares what to look for in a retail buyer.
Click Here to Watch Episode 3 : “Flip Tips in Today’s Market”
Our October 16th deadline to have the renovation 100% completed is fast approaching.
Stay tuned for the next episode . . .
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Patrick Riddle:
Dusty Keefe:
Another good video guys. One of your tips was to add improvements your competitors don’t have with today market is it still possible to “over improve” a property? When does more improvements become to much improvements?
It is definitely possible to over improve a property. Often times, we are in the price range where a lot of our competition has carpet and vinyl throughout. So, we usually go with hardwoods and tile. We also add some touches with crown molding, chair rails, that sort of thing to set it off.
I usually focus on analyzing the best looking houses that are our competition and make sure to take it one step past those.
I think Patrick is right but customers might just like over improvement. When I buy a property, a nice hardwood, sash windows… are usually good indicators of an improved property. I definitely appreciate crown moldings or other finishing touches you might add.