These days, more people are flipping homes than ever before. According to the latest reports, more than 207,000 houses were flipped in 2017.
Clearly, there’s a market for fix and flip properties. Some people are having a hard time selling their properties though.
Are you struggling with this problem right now? If so, you may need to rethink your sales strategy.
If you’re not sure where to begin when it comes to changing the way you sell your properties, keep reading.
Listed below are some tips every investor ought to know in order to sell their fix and flip property quickly.
If your house is all fixed up and ready to sell, make sure you’ve taken the time to stage it properly before you invite folks to come and take a look at it.
Effective home staging can have a big impact on the way people perceive a home. In fact, according to 83 percent of buyers’ agents, good home staging allows buyers to more easily visualize themselves in a particular home.
If you’re not confident in your ability to decorate and a stage your house, consider hiring someone to come in and handle it for you.
If you’re not quite ready to sell your property but want to make sure it sells quickly when the time comes, it’s a good idea to choose the right renovations.
Some renovation is necessary when you’re fixing and flipping a house. You should be careful about the renovations you choose, though.
Focus on renovations that will increase the value of the house and make it more appealing to future buyers. You’ll get more bang for your buck if you invest in updating the kitchen, for example.
Remember that small changes like new hardware or a fresh coat of paint can make a big difference, too.
The goal is to spend as little as possible when renovating a house and getting it ready to sell.
In order to minimize the amount of money you spend on renovations and repairs, you’ll need to work on your negotiating skills.
The easier it is for you to negotiate with contractors and repair workers, the more money you’ll save while still getting your projects completed in a timely manner.
It’s also important to have a great realtor on your team.
Find someone who specializes in selling fix and flip properties and make sure they have a lot of knowledge about the area in which your house is located.
They’ll be able to guide you through the selling process and help you make sure your house is ready to sell.
Don’t just work with the first realtor that pops up in a Google search. Do some comparison to figure out which person is going to be the best fit for you and your properties.
Any fix and flip pro will tell you that, if you want to sell your property quickly, you need to price it right.
If you ask too much, you’re going to have a much harder time getting that house off the market. At the same time, though, you don’t want to ask so little that you don’t make a profit.
Pay attention to the prices for which other houses in your area are selling and make sure your house lines up with those prices. Your realtor can help you figure out the value of other homes in the area and make sure yours is priced fairly.
Make sure you’re selling your house at the ideal time, too.
Generally speaking, it’s not a good idea to sell your house in the winter — spring and summer are the seasons when most people are searching for homes.
At the same time, though, winter buyers are often more motivated than spring and summer buyers. They might be more likely to purchase your house at the listed price and will be willing to close the deal quickly.
Take seasonal elements into consideration, but don’t write off off-season buyers altogether.
Whenever you choose to sell your house and at whatever price, make sure you’re marketing it well.
Make use of online listing platforms like Zillow and Trulia, but utilize local newspapers and magazines, too.
Don’t be afraid of social media, either. These days, more and more people are beginning their home search through these platforms.
In addition to staging the interior of your house, make sure you’re taking steps to improve its curb appeal, too.
Make sure the lawn is neatly trimmed and raked, and fill in any cracks that are present in the driveway or walkway.
You may also want to consider planting some flowers in the flower beds to make the house appear bright and welcoming. Painting or staining the front door can enhance the whole exterior of the house as well.
Finally, make sure you’re networking with future buyers. Attend showings and open houses to get to know people who are looking for homes in the area.
Don’t forget to reach out to contacts who work in the area and let them know that you have a house for sale. They may be able to recommend it to their clients or colleagues and help you make a sale much faster.
The process of selling a fix and flip property can be pretty daunting.
If you keep these tips in mind, though, you’ll have a much easier time selling your property and moving on to your next project.
Are you not quite ready to sell a fix and flip property? Do you need help coming up with the funds to purchase one? If so, we’re here to help at Orchard Funding.
Contact us today to learn more about our lending program or to apply for a loan online. We’ll get back to you right away and let you know if you qualify.
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