real estate


Question by  satyendra (12)

What advice can you give me on starting to flip houses?

There is an opportunity for me to buy several houses that were recently damaged in a flood, they would make great flipping houses.


Answer by  Chaneygirl (1755)

If you are buying several houses, it sounds like you are starting a business. Keep all your receipts from fixing up/repairs to write off against the sales.


Answer by  Devin98 (487)

Ensure sales in your area will support your flips and don't spend more on repairs than the area values will support. Professionally take care of any moisture issues.


Answer by  SandyG (807)

Start with one house, not two or three. Expect there will be mold and other serious damage that will require labor and materials to fix correctly. Fix up the house as if you and your family will be living there. Target the price for the neighborhood when you choose appliances, flooring & countertops.

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