While many people may be waiting a few months for a house flipping opportunity… now may be the perfect time. Although this is not considered the busy season, it offers an economic edge with some investors taking a little time off and homeowners who were unable to sell their previously listed property.
Due to unforeseen circumstances, homes become available twelve months a year:
· Mortgage fluctuation
· New job or relocation
· Loss of employment
· Helping a family member or friend
· Family changes (retirement, empty nest syndrome or marriage/divorce)
· Poor health
· Death of a homeowner
· Home is too small or too big
· Neighborhood changes
The fact is – every five to seven years, American homeowners buy and sell. There are a multitude of reasons people sell and some need a quick sale. Do not wait, be proactive and find the perfect flip – even in the colder months of winter.
Whether you’re new to flipping or an experienced flipper, this time of year often allows you to buy at a great price, fix and then flip in the spring. Of course, you will want to first focus on the interior repairs and upgrades, such as the kitchen, master bedroom and living room, painting and installing new carpet and/or floors. Then as the weather improves, evaluate the roof, deck/patio and landscaping.
If you are looking for a hot deal during this cold season – do your homework. Work with professionals who can advise you along the way and create a realistic time frame and budget to help you purchase, renovate and sell the property.