When you begin your journey flipping homes, there are some things you need to know, and other things you will want to avoid. We’ve put together some tips on how to sell a fix and flip house fast in Indianapolis. 

Flipping a home in Indianapolis can be a great way to turn a profit, but it is never as easy as it appears on HGTV. We hope our tips and tricks will help you sell a fix and flip house fast!

First You Must Understand Your Location and Market

They say a home’s value is based on location above all else. 60% of the home’s value comes from where it is located on the map. Home prices may vary drastically as you move from neighborhood to neighborhood.

A house that might be a great value in one part of town, may sell for considerably less just a few miles away. Make sure you have done your homework and have a good understanding of home prices in YOUR neighborhood.

You will also want to have a grasp on the demographics in the area. Who is buying? Families, seniors? What are they looking for, and what can they afford?

Don’t Over-Improve The Home

When making improvements to a home you plan on flipping, remember that less is more. There are no guarantees that you will recoup the costs spend to fix it up. Replace things that are not working or that appear very old, but leave it at that.

Do not sink money into a home adding excessive details and upgrades. If bathroom cabinets are old and ugly, replace it with a simple (and cost effective) pedestal sink.

Always keep in mind, that no matter how many upgrades you make, a home will not sell for $500k, when the neighboring homes are going for $150k.

Price Your Home Before Anything Else

Before you sign the papers to buy the home, have the number in your head of what you will sell it for. Be careful not to overinflate this number. You should be pricing low in order to get a buyer and sell the home fast.

Be realistic and stick to your numbers. Do not think that by making a $40k renovation to the basement, you will be able to add $40k to your asking price.

Review all your numbers before getting started, and keep in mind, repairs typically require more money than what you initially plan for, so give yourself some cushion.

Only Drop Once

When you initially price your home, give yourself enough room to drop the price once. Plan to make a significant drop of $5-$10k if the house isn’t receiving much attention at your original asking price.

You will only want to drop the price once. Dropping the price more often can make the house appear as if something is wrong with it, or that you are desperate to sell.

Before starting any real estate investment project, it is important to educate yourself and work with professionals you can trust.

To learn more about selling a fix and flip home fast, fill out this form, or give our office a call today! (317) 526-4712

Do you love real estate? Have you always wanted to learn about how to turn a profit flipping property in IN? We’ve put together some great tips to help get you on your way to making excellent profits by buying and selling properties in IN. 

The idea of flipping houses has grown over the past few years, partly due to reality TV shows and partly because more and more people have fallen in love with the idea of getting their hands dirty, doing the work and (if all goes well) turning a great profit.

Before you dive in head first, you should make sure you understand exactly what you are getting into.

Know Your Market

Real Estate Markets vary throughout the US. What is happening in your local market, might be different than what’s going on in the country as a whole.

• Are prices rising or falling?
• What are new facilities and infrastructure is in the works?
• What about the area will attract buyers?

If you buy a home in the area, does in make sense to hold and rent the property until prices rise even further.

Know Your Numbers

Do you know what an ARV is? This is the value of the home after repairs and upgrades have been made. You need to figure out this number by studying the market and working with a contractor who can accurately price out what it will cost to fix up the home.

You will also need to factor in the time it will take to complete the work and sell the house. While you are the owner, you will be the one responsible for the taxes, utilities, the mortgage (if you have one) in addition to the costs of materials, labor and so on.

Know Who Your Buyers Are

What is the demographics in the neighborhood? Are there families, retirees, outdoor lovers or students in the area? What will they be looking for in a home?

You will want to buy a home that that has features your leading demographic is looking for.

If you have young families buying in the area, focus on creating an open family room or finish the basement. If you have retirees, make the house easily accessible and the yard low-maintenance.

Price To Sell

Be realistic about what you can sell the home for. When you are calculating your ARV, don’t inflate the price to what you hope to get. When flipping a home, you want to sell it QUICKLY!

After doing your homework, you should know what homes are selling for in the neighborhood. Make sure you are listing your home at or slightly below these amounts.

Are you ready to turn a profit flipping property in IN?

If so, it is important to spend time thoroughly educating yourself and making sure you are aware of all market factors that will be involved.

If you are new to flipping and real estate investing make sure you work with a professional who can guide you through the process so you don’t end up losing a lot of money!

Chris Buys Homes in Indianapolis can help you with your investment needs! Give us a call (317) 526-4712 or use this form to contact us today!

Have you always wanted to get started flipping houses? We have put these 4 tips to flip a house in Indianapolis the fast and easy way!

Flipping properties can be an excellent way to see big profits. But before you dive right in, there are a few things you need to know that they don’t show you on TV.

If you are ready to make money flipping Indianapolis houses, check out our 4 Tips to help you get started.

Get Your Team Together

When going to flip a Indianapolis property, you shouldn’t go at it alone. Build a team of experts you can count on for help taking care of all the details. Build relationships with multiple agents and private money lenders.

Find contractors and designers you enjoy working with.

And make sure you are working with a CPA who can help you keep it all together. After all, your goal with this is to make money.

Know How and Where to Find Undervalued Property

With the number of foreclosures dropping and more people seeing the value in purchasing homes owned by the bank, the ability to find great deals has become more difficult than it once was.

Nowadays, you have to do a little digging in order to find that diamond in the rough. Working with realtors you like and trust is a great way to find homes with owners ready to sell fast, or homes being sold in need of some major repairs.

Finding these sorts of homes at a great price is what every savvy house flipper is looking for.

Know Your Buyer Before They Walk in The Door

Before buying any property, you need to do your homework regarding the area. Is it popular with retirees? Families? First time home buyers?

The fixes and improvements you make should be made especially with them in mind.

An older couple might focus on accessibility, whereas a large family might want a mudroom and an additional bathroom.

Think about the things that will “wow” your likely buyers and add those features that make the buyer feel as if the home was designed with them in mind.

Move Quickly

When flipping a home, your greatest enemy is time. In order to see the best profits, your mission is to resell the home as fast as humanly possible. The less time you are holding on to borrowed money, the less interest you will have to pay on it.

Add this to the costs of utilities, insurance, taxes and the prices you paid for repairs and cleaning, and you can watch profits vanish right before your eyes.

You should always strive to do a great job upgrading and repairing the home, but make sure you are working with the right people so you can get the job done quickly.

Are you ready to start flipping homes in Indianapolis? Let us help you get started! Click here now and fill out the form or call our office at (317) 526-4712!

Have you always wanted to get into the house flipping business but had no idea where to start without any money? Don’t worry, people do it all the time!

Many people are able to start with nothing and build their own real estate empire from the ground up! In this article, we will discuss 4 ways to flip houses with no money in IN.

4 Ways to Flip Houses With No Money in IN

You might think this sounds impossible, but people do it every day. If you want to flip houses with no money, you will need to do your homework and educate yourself on the process and what methods of funding are going to be the best option for YOU!

You should create a business plan outlining exactly how you intend your house flipping venture to work.

Find Some Partners

Think about who you know who may want to invest. Even think about people you don’t know, but could pitch your investment idea to. This could be a friend, family member, business associate or possibly another real estate investor who would be willing to partner with you.

Once you have shared your strategy with your prospective partner, you can arrange for them to finance the deal, while you do all the work to get the job done.

Loans – Hard Money & Private

Getting a loan, whether hard money or through a private lender can be a great strategy for securing the cash you need to make a property investment. A private money loan is a great method as there are many people out there, with money just sitting in their bank accounts, waiting to invest with you.

They just don’t know it yet. If you can present a tangible plan and reasons why they should invest with you, you will be able to find a private money lender who is ready to invest with you.

A hard money loan is also a great way to get the cash you need fast. However, the thing with hard money loans is that they often come with a high-interest rate as well as points. Because of the high-interest rates, hard money loans are great for a property you know you can flip fast.

They allow you to get the money you need quickly, just ensure you pay it back as soon as possible.

Use What You Got

Even if you don’t have an abundance of cash at your disposal, you might have other assets you can use to secure the financing you need.

You can use a home you own, your IRA or retirement accounts and even your 401k to help get a line of credit. If you tap into any of these accounts for a down-payment, beware of the associated risks, and tax penalties for pulling out money early.

Mix & Match

Even if you can’t get all of the funding you need using the methods above, you can mix and match the methods to achieve your goals.

Maybe a rich aunt will loan you part of the downpayment, and you are able to pull the remaining amount from an IRA. Or maybe you partner with an avid local investor, only investing a small amount you borrowed through a hard money loan.

However, you decide to invest, do your research and keep in mind all of the potential streams of credit that might be available to you!

Are you ready to begin your adventure flipping houses? Our awesome team can help you get started today! Click here to fill out our form, or give our office a call today! (317) 526-4712