There is a lot of legwork you have to put in before you start down the path of reselling homes. The good news is if you spend the time educating yourself this can be a really successful and profitable endeavor. Here are a few tips:
- Understand the costs. Make sure you have a solid understanding of the amount of your investment as well as prices for repairs/upgrades. Price the costs associated with DIY repairs vs. hiring a contractor.
- Know the return. You need to understand what type of return you should expect when you make certain repairs. For example, spending 20K on a bathroom remodel may not be in the best interest of the overall resale value.
- Grow your network. You should have real estate agents, lawyers, and seasoned flippers on speed dial. Use their expertise to guide you through the process. You need to understand laws, competition, and how you can maximize your return—these people can help.
offers comprehensive legal advice for people involved with real estate. If you would like to discuss the basics of law surrounding the real estate industry—our real estate attorneys can do it all. Contact us today, and one of our knowledgeable attorneys will be happy to assist you. Hope this helps!