EHomeFacts

6 Tips to Sell Your Flips, Part 4️⃣ QUALITY PHOTOGRAPHY
We cannot stress this *enough* Here's a list of the most important considerations when it comes to photography
1️⃣ Hire a professional photographer and if your budget allows it, someone who can record video too. Drone shots are a nice extra too.
2️⃣ Turn on all the lights and open all the blinds, curtains, and shutters.
3️⃣ Get a lot of angles that best capture the updates
4️⃣ Pay attention to details – toilet seats down, closet doors shut, etc.
👉 All home searches begin online and the first thing buyers are going to do is look through the pictures so you absolutely can’t drop the ball here.

Things change fast in real estate. Just 2 months ago house prices were on a historic rise with no end in sight but now, with interest rates on a historic rise, home prices are plateauing in our area...and in some areas are even dropping. Sellers and house flippers beware. Overvaluing and under fixing is not going to work anymore. So let's revisit some basics on getting your flip sold, starting with our first tip: PRICE.
👉 For 2 years the strategy has been to keep pushing the price up. And it’s worked. Until now. We need to be more diligent when valuing properties. If the ARV is $400k based on recent comps, that doesn’t necessarily mean the ARV is going to be $450k or even $400k in a few months when the flip is finished.
👌 So here's the TIP: Build in a buffer in case the prices drop 10-20% back to normal.

BRRRR: RENT – okay, so the house has been purchased at a great deal and you've rehabbed, still staying under 75% of the ARV. That's a win in our book. But now to the renting part of the game. Your lender is going to feel way better about the loan if you have steady income.
📒 Here's our two cents: Run the property like a business, not a hobby. Screen the heck out of your tenant before the lease is signed. Check their income and credit score and be sure they have a clean background and no evictions. Don't ever budge on these things. It will save you a lot of headache, trust us. Stick to the lease and stay on top of payments, property maintenance, etc. And if you don't have the time for this, then hire a property manager to do it for you.