One of the best ways to learn the business of house flipping is to hear the stories and insights of other real estate investors. On A&E’s website for the show, Flip This House, they’ve shared some great wisdom from experienced house flipper Peter Pasternack. In the article, Peter shares 10 sensible tips about flipping houses anywhere in the country.
For example, Peter advises house flippers to not be afraid to make low offers. A “no” today doesn’t necessarily mean a no tomorrow, Peter says. He also points out that time is money, and house flippers need to use both wisely by understanding all of their costs in advance and managing their worksites in person. Experienced investors that regularly work with trusted contractors may be able to get around this, but this is wise advice when you are first starting out. Peter also advises flippers to have their private money lending in place before looking for a deal. This helps ensure that when you find a house ideally suited to your business goals, you’ll be able and ready to act quickly.
The knowledgeable team at ZINC Financial is available to offer expert advice whenever you need it. With a specialization in California markets, ZINC Financial can provide investors with detailed information about private money loans in California as well as the current state of various California housing markets.
One thing you’re sure to learn by working with the experts at ZINC is how to identify a home that is an ideal fix and flip investment. Numerous factors have to go into your decision-making process, including the total cost including fees and commissions, the cost of refurbishing the home, and past and present trends within the localized housing market. Knowing that homes are selling well in Los Angeles is not enough — you’ll also need solid information about how homes are selling within a specific area, neighborhood, or even on a specific street.
Follow ZINC Financial’s Facebook page to get house flipping tips on a regular basis. You can also give us a call at (559) 326-2509 to learn more about our residential rehab loans or to talk directly to an expert about the market for real estate investing in California.