The Riverside real estate market always seems to provide some opportunities to find great deals to flip. The questions is how much do you consider making when you flip a home? Timing is one of the more critical factors when considering home flipping. The peak of real estate season seems to run from March through October. If you choose to flip a home in peak season, you’ll be competing for labor resources that are busy on other projects. If you choose to flip a home in the Riverside real estate market in the off season, you’ll have a more limited pool of buyers to choose from. Regardless of when you choose to flip a home, there will always be factors to consider. Most flips seem to happen within 90 days of being purchased. That means that you’ll be allotting approximately 4 weeks for renovation, 4 weeks for marketing and 4 weeks to close escrow. Timelines for flipping homes in the Riverside real estate market can be very aggressive at times. Hopefully you’ll have a good understanding of project management.
What type of work do you see yourself doing to flip a home? Do you have a construction background? Are you going to do it your self or are you going to hire contractors? What about materials? Do you have wholesale connections for building and finishing materials? Are you buying materials when opportunities present themselves? Most flippers who are committed to flipping a few homes per year will have an inventory of building materials that can help lower their bottom line. Home Depot and Lowes can have closeout items that can be a good deal for you. You can also consider garage sales, estate sales and any other kind of sale to leverage. Habitat For Humanity has a few stores in the Riverside area with great prices on building materials.
Let me know when you’re ready to find your next home to flip. I’ll show you the best deals of the week available for purchase. Let’s make sure your funds and/or financing are in order. The good deals move fast for good reason.