Not sure where to even start when house flipping? Princeton Self Storage has put together a collection of beginner tips on how to find houses to flip—considering neighborhood conditions, home conditions, and more. Reach out to us once you have found your fixer upper and are ready to start the fixing up process. Self storage is an affordable way to organize your furniture and other equipment while the home is a construction zone. Good luck on your house-flipping adventure!
When you’re flipping a house, it’s all about location. You want to find a house in a neighborhood with a decent reputation, good schools, and, preferably, public transportation in walkable proximity if you are in a large town or city. But you also need to stay within your budget—considering renovation costs yet. That’s why it’s so important to do your research before you start house hunting. New Silver Lending has a state-by-state guide to house flipping that can kick-start your research. Look at the cost of living in the area and try to identify potential red flags for your future buyer. This way, you’ll know what you’re getting into before you make an offer on a house. And you’ll be more likely to find a property that will entice buyers even before making physical improvements.
So where can you search for the right house? Online search engines like Zillow are excellent sources for beginners and the experienced alike. Plus, Zillow specifically offers tools, like its Foreclosure Center and Home Sellers Guide, to help you through the process. Another option is looking at your local auctions for foreclosures—just pay attention if they want you to pay in cash. If you prefer the assistance of a professional when searching for a house, you can look for real estate agents who work with house flippers and can offer their tricks of the trade. Part of the battle is finding your diamond in the rough, so look high and low!
There are some damages on a house that you can tell right away will quickly eat at your allotted budget. These projects are best to be avoided if you are working with a tight budget or are not personally experienced in home improvement:
And when you find your house to flip, look to Princeton Self Storage in Princeton, NJ, to support you through your renovation. Storing with us can help you create extra workspace in the house and protect your furniture and other items until they are ready to be used. You can choose from indoor and outdoor storage unit options through our contactless storage rentals. Look at our storage selection completely online, and reach out to our storage office if you have any questions!
About the Author: Paige is the Reputation Manager at Storage Asset Management in York, PA. She is a self storage industry specialist with an appreciation for a good self storage pun. During her downtime, Paige enjoys weight training, kayaking, and losing herself in the pages of a captivating book.