{"id":22145,"date":"2023-04-28T12:37:52","date_gmt":"2023-04-28T12:37:52","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=22145"},"modified":"2023-04-28T12:37:53","modified_gmt":"2023-04-28T12:37:53","slug":"mistakes-to-avoid-when-flipping-a-house","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/mistakes-to-avoid-when-flipping-a-house\/","title":{"rendered":"Mistakes to Avoid When Flipping a House"},"content":{"rendered":"\n

Don\u2019t cut corners when selecting, updating properties.<\/p>\n\n\n\n

As appreciation begins to slow and interest rates rise, making money from a fixer-upper becomes less of a guaranteed win. A key to success is doing homework about what\u2019s a good contender to be transformed and how to avoid the biggest mistakes. Josh Miller gave up a corporate job to found GoForClose in 2019, an all-inclusive marketing agency for real estate investors and wholesalers. He cites three mistakes your investor clients should avoid:<\/p>\n\n\n\n

    \n
  1. Choosing the wrong right location.<\/strong> A property is worth as much as its location, Miller says. Look for desirable amenities like shopping, entertainment outlets, and recreation\u2014and watch out for what Miller calls \u201cirritants,\u201d such as busy streets and other sources of noise. \u201cTo put it simply,\u201d Miller says, \u201cyour best deals are those properties that are neglected and need a little TLC but are in a great neighborhood.\u201d<\/li>\n\n\n\n
  2. Choosing a contractor based on price rather than quality and speed.<\/strong> Investors sometimes try to save a buck, says Miller, so they hire a contractor who promises to make repairs and improvements for an affordable price or at a discount. \u201cAs the saying goes: You get what you pay for, and cheap labor yields cheap results,\u201d he says. Find someone who offers both quality and speed\u2014so work gets done fast and is worth the expense.<\/li>\n\n\n\n
  3. Not crunching the numbers.<\/strong> Miller\u2019s adage is that you make money when you buy, not when you sell. \u201cBefore you purchase any property,\u201d he says, \u201ccrunch the numbers to determine if it will give you a good return on investment. Add the purchase price to the fix-and-flip expenses, include closing and carrying costs and contractor and real estate commissions, if applicable. Calculate the maximum allowable offer, and if the numbers make sense, make an offer.<\/li>\n<\/ol>\n\n\n\n

    <\/p>\n\n\n\n

    \"\"<\/a><\/figure>\n\n\n\n

    Image by F. Muhammad<\/a> from Pixabay<\/a><\/p>\n\n\n\n

    \u00a9National Association of REALTORS\u00ae
    Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"

    Don\u2019t cut corners when selecting, updating properties. As appreciation begins to slow and interest rates rise, making money from a fixer-upper becomes less of a guaranteed win. A key to success is doing homework about what\u2019s a good contender to be transformed and how to avoid the biggest mistakes. Josh Miller gave up a corporate … <\/p>\n

    Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-22145","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nMistakes to Avoid When Flipping a House - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/mistakes-to-avoid-when-flipping-a-house\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mistakes-to-avoid-when-flipping-a-house\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mistakes-to-avoid-when-flipping-a-house\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Mistakes to Avoid When Flipping a House\",\"datePublished\":\"2023-04-28T12:37:52+00:00\",\"dateModified\":\"2023-04-28T12:37:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mistakes-to-avoid-when-flipping-a-house\\\/\"},\"wordCount\":322,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mistakes-to-avoid-when-flipping-a-house\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/hd-wallpaper-2727334_1280-1024x682.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mistakes-to-avoid-when-flipping-a-house\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mistakes-to-avoid-when-flipping-a-house\\\/\",\"name\":\"Mistakes to Avoid When Flipping a House - 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