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Tips on Flipping a House
www.dummies.com/how-to/content/flipping-houses-for-dummies-cheat-sheet.html.


























Know How to Spot a Good Flip
Look for buried treasure This could mean getting the ugliest house on the block.

• A desirable neighborhood with good schools
• Ugly duckling in the neighborhood
• Vacant
• Priced to make money for rehabbing
• Good bones — good structure
• The return on investment is 300 to 500 percent of the cost of repairs
• Taxes are owed on the property
• Absentee landlord
• Probate property
• Foreclosure property
• The work needed is something you’re capable of doing yourself
• Documents related to house turn up nothing unusual
• Great floor plan
• Rooms with character and class
• Hardwood floors hiding under carpet
• Roomy kitchen with an inviting layout
• Roomy master bedroom
• Two or more bathrooms, at least one of which is roomy



What are the Signs of a Bad Flip
There are signs that a home is a lemon. Look for these warning signs of a house you probably want to steer clear of:

• Water stains on wall board, ceiling
• Foundation bulging in or out
• Mold in the attic, walls
• Knob and tube wiring or aluminum wiring
• Rotting windows with water stains down walls
• Standing water in crawl space
• Sagging floors or roofline
• Neighbors from hell
• More cats than humans in residence



So What’s The Quickest Way To Flip A House?
The ideal house for a flipper needs a cosmetic job instead of major repairs. This usually involves a deep scrubbing, decluttering, and a little makeup: Here are some top makeover steps to transform your fixer-upper:


Painless landscaping makeovers
• Trim trees and brush
• Pull weeds and dead plants
• Plant fresh shrubs and flowers
• Declutter the yard
• Mulch the flower beds
• Mow and edge the lawn
• Fill driveway and walkway cracks



Quick curbside facelifts
• Apply a fresh coat of paint (except on brick)
• Paint the front door and threshold
• Repair and paint or replace the gutters
• Replace the front and rear storm doors
• Replace exterior light fixtures
• Replace the mailbox



Interior beauty tips
• Replace all wall-to-wall carpeting (unless it's covering a beautiful wood floor)
• Apply a fresh coat of paint (neutral tones only)
• Install or update light fixtures



Quick and cheap kitchen makeovers
• Install a new stainless steel sink
• Install a new faucet
• Replace damaged or out-of-date countertops
• Paint or refinish the cabinets and install new hardware (knobs and handles)



Bathrooms brush ups
• Install a new vanity (cabinet and sink)
• Install all new fixtures



What About Staging?
You have to properly stage (showcase) the home, so use the following checklist to perfectly stage the property:

• Mow and edge the lawn (yes, again)
• Sweep the entryways and lay down new doormats
• Scrub-a-dub-dub that house right before showing (especially the kitchen and bathrooms)
• Clear the clutter
• Furnish rooms sparingly with attractive furniture (no vacancies)
• Open the windows and turn on all the lights (no heavy air fresheners, scented candles, or potpourri)
• Set out attractive bouquets of fresh-cut flowers



Million Dollar Listing Los Angles’ Airs Wednesdays 9/8c on Bravo.

And, you can check out some of Josh's million dollar listings at Joshflagg.com.


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