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HOW TO STAGE A HOME TO ATTRACT MORE OFFERS

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Without a doubt, it’s worth the expense to stage a home. The question is whether you really need to hire a professional or if you can stage a home with the help of family and friends. If you are in the business of flipping homes to make a profit, consider recycling the same décor items, art pieces, mirrors, rugs, and furniture pieces. Make it easy, find the look that sells and then replicate it. With furniture, you can stick to the basic browns, whites and blacks so it’s easier to change interior paint colors as the trends change over time. As far as how to stage a home to attract more offers, there are a few tips you can use such as touring new model homes for ideas. According to an article by U.S. News & World Report, the extra money you spend to prepare your flip pays off in terms of final sale price and how quickly the home sells.

 

WHEN TO SAY NO TO A DISTRESSED PROPERTY

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When you are choosing real estate properties to flip, you will find that no two properties that are the same. The most affordable ones are typically are in a state of disrepair. Maximizing profit is your number one goal when fixing properties for resale, but not all properties will be profitable. Typically, this is a result of issues that are too large to handle for a profitable flip. This is a hard call, especially for new investors, because the same repair on two different houses will dig into your potential profit differently depending on your market and how many total repairs that a property needs. Read Center Street Lending’s guide to educate yourself on what it typically the most expensive to repair and may include hidden costs. Learn how to say “NO” to a distressed property. 

SAVE EXTRA MONEY ON YOUR FLIP

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Cutting corners isn’t always in your best interest even if you think it will lead to greater profit. Yes, profit is important when flipping a house, but some products and materials are worth spending a little extra money on. Not only will your project sell easier, but, in some cases, investing a bit more on certain things will allow you to increase your selling price and potentially increase your profit. This list offers the best products and materials that are worth your extra money and will save you money in the end.

 

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