A few years ago, house flipping became a big business. It became so big that there had been more than five reality shows about house flipping and these shows rated high on viewership. In 2015, house flipping is still a very profitable real estate business, which you can get into if you have enough capital. House flipping is basically buying an abandoned house, renovating it then selling it at a good price. If you are interested in getting into the house flipping business, you need to know the people you should hire in order to help you from start to finish.
1. A reliable architect
Architects may be well-known as house designers, but they are also good in checking the state of a building-whether it is well-built, strong and whether you can change some parts of the house without sacrificing stability. Having an architect in your team is an advantage to your flipping business because some of your competitors may not have their own architects. Choose an architect who has a good record and who is willing to do the job based on your budget.
2. A good interior designer and decorator
It’s hard to sell a house if the interior is not well-designed. That is why you definitely should hire an interior designer. Interior designers are artists whose canvas is the interior of buildings. They will help you find the best color to paint the walls, placement of the furnishings and the decorations to make the house attractive to prospective buyers. In order to avoid conflicts about the look of the home interior, make sure the interior designer you choose is someone you feel comfortable with and has the same taste as you when it comes to decorations.
3. A fast renovation company
When choosing a renovation company to do the actual repair and remodeling of the house you are flipping, you have to ensure that they have enough qualified workers who can work fast so you can get your investment back fast. Remember, you have competitors in this business too and if they finish their house faster than you do, they may steal away your potential client. However, don’t sacrifice quality for speed too or else no one will trust you again. Remember, a renovation company with high-quality and efficient builders is what you want.
4. Real estate broker
Having a real estate broker is optional, but is advised. Real estate brokers have the necessary knowledge about finding possible buyers as well as connections that can help them find people looking for homes. The real estate broker you choose should be someone you can trust, and this person should have no past or present involvements in any disputes. You can check on your city for list of real estate brokers who are licensed for this job.
House flipping is a profitable business, especially if you have the right people in your team. The list above should help guide you in finding and choosing reliable teammates on your quest to make profits from house flipping.