When Flipping Houses Avoid Making These 5 Mistakes!

Flipping Houses simply put is buying a house with a plan to sell it for profit. This process can be very complicated and there area many decisions to make from the start. Some are so focused on making a profit that they tend to overlook the basics and end up in a sticky situation. In this article we'll look at the five biggest mistakes that investors should avoid making when flipping or renovating houses in this market. 

1. Insufficient Funds

You need to first figure out how you are going to pay for your property and have a exit strategy before you actually purchase anything. If you choose to finance the deal then you need to have a legitimate vendor on hand and don't forget about the interest and points fees. Even though interest is tax deductible it is not 100% deductible.

If you choose to pay cash, you will eliminate interest but then you will need to consider holding costs such as utilities, taxes and insurance. Renovation costs must be pretty accurate as you don't want to under calculate what those may be. Remember, the sales price must always exceed the cost of purchase price + repair cost.

Lastly, don't forget about those capital gain tax.

2. Missed Deadlines

Flipping and Renovating houses can take a lot of time to properly complete. With inspections and problems that may occur this process can take months and can surpass the original timeline you had planned. Once all renovations are complete you still have to invest time into marketing the property so that it can sell. Make sure you consider all of these factors when flipping. Allow room in your timeline for unexpected mishaps.

3. Doing the Work Yourself

If you are handy with a hammer, enjoy laying hardwood floors, can lay a nice roof, install a kitchen sink and hang dry wall then go ahead and flip that house. If you do not possess these skills then you will need to hire a professional to do all of this work for you. This cuts into your profits and you need to consider this cost as well. Shop around and get quotes from at least 3 different contractors before making your decision on who to hire.

4. Not Enough Experience

To be successful, you need to be able to pick the right house, located in the right area, and priced just right. You can't expect to sell at $170,000 in a neighborhood where the market value is $100,000 just because you purchased at $70,000. This can happen but it is highly unlikely. You need to know which renovations to make and which ones to pass on. Even if its the deal of a lifetime you need to understand when to cut your losses and get out before your project becomes a huge money pit.

5. Impatience

Do not rush out and purchase the first house you find with equity, take your time and make sure it is a solid deal. Do not rush out and hire the first contractor that makes you a bid, get more bids from others, check credentials, and references. Do not rush out and hire a realtor to sell the house, be patient and post ads on classified sites as for sale by owner. This process is quite reliable and as long as the house is nice and priced right it will sell fast. This eliminates any realtor commission fees which will cut into your profit.  

Professionals understand that buying and selling houses can take a lot of time and that sometimes the profit is small. With this knowledge you must practice patience because eventually if not instantly it will pay off!

In conclusion, before you start flipping houses, do your research, know what to expect and know what you are doing. Flipping houses is not a picnic, it requires time, money, skill, and patience. If you avoid these mistakes and learn from the other mistakes that you will make then you are well on your way to making BIG profits! If you are interested in buying or selling a house call now at (404)-220-7139. We have a huge inventory of houses for sale and we pay cash for houses as well! 

10 Helpful Tips to Guide For Sale By Owners to Selling Their House!

As real estate values decline, many sellers are looking at those commissions they have to pay at closing and think, "I can sell my own home!" After all, if you can get $500,000 selling your home yourself, you have potentially saved about $30,000, which in today's market can mean the difference between a loss and a profit. Here are some tips to help guide you through the FSBO process:

1. Disassociate yourself with your home and make the mental decision to let go of any emotional ties to the house. 

2. De-Personalize the house by removing any personal photographs or heirlooms so that the buyers can picture themselves living there as opposed to wondering "what type of people live here"!

3. De-Clutter, not only is this a great start to unpacking buyer’s love to snoop through cabinets & closets and the last thing you want is random items falling out. Either clean it out or organize it very well by stacking dishes, line up shoes, stage the home if need be! Create an atmosphere the buyer will want to live in and picture their own lives their! Rent a storage room to hold the excess clutter if needed!

4. Remove or Replace your Favorite Items. If you want to take built-in appliances or window coverings or fixtures with you remove them NOW! If a buyer never sees it they won't want it. Failure to do so can kill a deal when the buyer request this item that is not a part of the package!  

5. Make Minor Repairs by patching up holes, fix leaky faucets, replace cracked floor or counter tiles, fix doors and kitchen drawers that do not properly open or close, consider painting your walls a neutral color you don't want buyers to remember your house as the one with the ‘ugly’ orange bathroom. Replace old light bulbs and a brand new bed spread is a nice added touch!

6. Clean, Clean, Clean, most people like "NEW" so an unkept home can turn potential buyers off.  Wash windows inside & out, rent a pressure washer for exterior of house, sidewalks, & driveways. Mow the lawn, paint any faded window trim, plant flowers for curb appeal,  & trim your bushes. Re-caulk tubs, showers and sinks, polish chrome faucets and mirrors, clean out the refrigerator, vacuum daily, & wax floors. Dust furniture, light fixtures, and  don't forget those ceiling fans. Bleach any dingy grout & replace old worn out rugs. Hang up fresh towels and for a added touch fasten them with a ribbon or bow for appeal, & lastly de-odorize the entire house!!!

7. Put yourself in the buyer's shoes, would you buy this house as-is, would you even want to go inside of the home, examine how the furniture is arranged and move pieces around until it makes sense, the more spacious it appears the better. Make sure window coverings hang well & do the rooms have an emotional pull, impact and pizzazz??? 

8. Research what  similar homes are selling for in the neighborhood within the last 6-12 months? You can visit www.zillow.com and enter your address in the  search engine and filter search with recently sold single family or multi family homes (whichever applies). This will allow you to see all the homes that recently sold in your neighborhood. Be sure to compare homes similar to yours in size, # of beds/baths, sq.ft, & the year built, and DO NOT rely on the zestimate.  

9. Get Help from either a real estate closing attorney or a title company, depending on where you are from, to handle the closing. Familiarize yourself with the needed paperwork and let them handle the complicated disclosures during closing for you! Also real estate investors can be a great help when having issues selling, they can provide you with a quick sale, pay all cash, and pay most if not all of the closing fees, no risk or obligations to you. They would do all of the work! 

10. Pricing can be made once you determine the comparables in your neighborhood. If a similar home on your street sold for $100,000, because you are FSBO you have the privilege of offering yours at a bargain price of $85,000. You can get a quicker sale and come out of it with more money than your neighbor who has to pay a realtor's commissions!

If you are interested in selling your house fast, Call us now and we can provide you with a customized offer with no obligations or risk to you. A brief phone conversation can be life-changing and save you time and money. Why wait, Call Now (404)-220-7139. We look forward to hearing from you! 

Why the Atlanta BeltLine is a Hot Spot for House Hunters Today!

While the Atlanta housing market keeps on rising and getting stronger, a couple buying trends have arose and potential homebuyers need to be aware of these great developments. Since the beginning of the house recovery process more and more Atlanta neighborhoods are becoming more desirable especially those neighborhoods located along Atlanta’s BeltLine which are projected to be some of the best sellers in the upcoming years. With this being said, this is still the right time to buy!

History

Recognized all over the country as one of the most comprehensive urban development projects, Atlanta’s BeltLine presents access to nice scenic hiking trails, fabulous public art, a nice pedestrian rail transit, and 1,300 acres of parks. The BeltLine is radically altering the view of Atlanta’s suburban stretch. Areas around the BeltLine are the hottest areas to live in and a must see for home buyers in spite of the project not being complete.

Neighborhoods

The Atlanta Belt Line is bringing 45 unique neighborhoods together under one vision that will convert these separate entities into one cohesive community while still maintaining the individual charm of each neighborhood. The neighborhoods are interconnected to each other and nature, while staying in close proximity to the center of Atlanta. This closeness attracts house hunters who find city life either too expensive or too urban yet they still would like to see the city more than a couple times out of the year.

Price Tag

Many of the neighborhoods along the BeltLine are still very affordable for first-time home buyers. Each neighborhood has its own unique price points, but this might not last very long. As the development keeps advancing, so is the housing market and homes along the BeltLine are constantly climbing in value. In only a few more years these homes will be among the most sought after properties in the metro Atlanta area. Those who take advantage of these awesome real estate opportunities will not only have a great home in a great location, but they will also possess a great investment for future years to come. 

If you’re interested in purchasing and would like to speak with a local Real Estate Expert, Call Now at (404) 220-7139. If you would like to be on our VIP Buyer's List for the next deal near the Atlanta Belt Line, simply fill out our Priority Alert List form. Our experienced real estate professionals would love to discuss your needs. We look forward to hearing from you!

5 Tips for House Hunter's in Atlanta!

House 4 Cash Buyer's: 5 Guidelines for Atlanta First Time Homebuyers!

How To Sell Your House Fast: Even if You're Not a Sales Person!

House 4 Cash Buyer's: How Real Estate Professionals Can Help You Sell Your House Fast!

How Real Estate Professionals Can Help You Sell Your House Fast!

You have worked hard to put your house on the market. You have invested time, money, and hard work to make sure that everything goes well. In spite of this, your offers have been, at best, mediocre. The real estate market can be more fickle than the weather in Georgia in the spring. Whether you are struggling to sell, too busy to sell, or are simply exploring your options, a real estate investor may be the answer to your problems that you have with selling your Dekalb or Fulton county home.

What is a Real Estate Investor?

A real estate investor is a person or company that has the time and money to invest in your property. The investor will purchase your property from you, then attempt to turn it into a profitable piece of land. The investor has the time, money, and resources to purchase your house at a fair price, then wait for the proper market timing to sell. It is a mutually beneficial agreement between you and the investor. You get out of real estate limbo, sell your house (as is), and no longer have to worry about mortgage payments or property upkeep while you are busy or have moved. The investor receives a piece of property that the investor has time to work with.

How does it benefit you?

There are a variety of reasons to sell to a real estate investor. Many sellers may not have the time to complete major renovations necessary for selling a house. The renovations may be as small as painting and replacing carpet, or as big as replacing floors and fixing the roof. Either way, the average working person probably does not have the time or money to invest in these projects. Investors will buy your house no matter the condition. The house might be older than Grandma. The house might be stuck in the seventies with mustard yellow walls and shag carpeting. It doesn’t matter what the house looks like, the investor will purchase your house no matter the condition.

Financial problems may be another reason why people choose to sell to investors. Perhaps you are behind on your payments or maybe you are underwater with your property. Real Estate investors can help you by taking the property off of your hands before you end up with an even bigger financial burden. They can also sell your house quickly allowing you to get on with your life and focus on more positive things.

Of course, financial problems are not the only reasons that people sell to investors. Some people sell because of sudden job changes, deaths in the family, a decline in the neighborhood, bad tenants, or even because they simply can no longer manage the property on their own. Real estate investors can help you avoid foreclosure or simply get rid of that inherited house that you do not need or have time for. Whatever the reason, investors can be the solution to many problems.

House 4 Cash Buyers is constantly buying houses in the Atlanta area. We are a local team of Real Estate Professionals and we aim to achieve win-win solutions! We can resolve your problem, save your credit, and secure you with the cash you deserve for your house. There are no fees, no commitments, and no obligations to you. Our professionals strive to get you top dollar for your house and fast! Your Dekalb or Fulton county house can be sold within a week putting instant cash in your hands. We can pay most of the closing fees, no hassles involved. You will not have to spend your time and money attempting to get your house ready to sell. We take your house in “as-is” condition with no strings attached. 

Yes, We Buy Houses in Your Neighborhood!!! We Buy Houses in Kirkwood, East Atlanta, Oakhurst, Druid Hills, Brookhaven, Old Fourth Ward, Candler Park, North Decatur, Morningside, Ormewood, Edgewood, Lake Claire, and Grant Park!

Call us now and we can provide you with a customized offer with no obligation and no risk to you. This phone conversation can be life-changing and save you time and money. Call us now at (404) 220-7139.

Hey, You… Read This if You Want Tips on Selling Your House Fast!

House 4 Cash Buyer's: 10 Clever & Bizarre Ways to Sell Your House Fast!

10 Clever & Bizarre Ways to Sell Your House Fast!

 

In today's real estate market, it takes more than fresh baked cookies and flowers to attract buyers. Home sellers are resorting to more creative and sometimes unusual tactics to get their house noticed. Listed Below are 10 fantastic & out of the ordinary home selling methods that are a sure way to help get your home noticed!

1. Go all out with home staging.
   
   
   It is no secret that staging your home can help it sell faster. Many home sellers are taking this fact to the next level, using an ancient art and science called Feng shui! Feng shui reveals how to balance the energies of any given space to assure health and good fortune for those inhabiting it! This good chi makes potential buyers feel more welcome!

2. Arrange an open house party.
   

   Raise the bar with your fancy open house by offering wine, live music, catered food, & door prizes! Create an atmosphere that will make your home the most memorable!
   
   
3. Assist serious buyers with financing.
   

   Many people who are ready to buy a home can't qualify for a traditional mortgage right now, so sellers are lending a helping hand. Whether it's assisting with financing by offering rent-to-own deals, paying points to lower interest, or paying closing costs!
   
   
4. Have a little faith.
   
   
   Lately, home sellers have been relying on faith to help them sell their homes. According to a common tradition if you really want to sell your home quickly you should bury a statue of St. Joseph upside down in the yard of your home. Praying to the statue for a quick sale and then burying it is said to always bring a fast offer on the home. Thousands of realtors and sellers swear that a little divine intervention helped them sale.
   
   
5. Include some elaborate extras.
   
   
   Times are changing and so are the incentives to help get your home noticed, which are more substantial. More sellers today are stepping the game up and offering free cars, vacations, costly home renovations and even financial incentives like a furniture stipend or a year's mortgage. 
In the past, a free big-screen TV was enough of an incentive to get your home noticed but today it may take a little bit more.
   

6. Make your home the reward.
   
   
   After standard methods fail to work, some sellers are holding raffles and essay contests and then giving their homes to the winners. This method is a sure way to draw attention, but be careful because home lotteries are illegal in numerous states. Figure out your state's regulations before trying this technique.
   

7. Use the world wide web.
   
   
   If you are not interested in using a realtor to sell your home then the internet is a great alternative. Some sellers are auctioning their homes off on eBay and others are swapping properties through sites like HomeExchange.com and LoveHomeSwap.com. Some sellers are using investor sites, who have extensive access to numerous home buyers, to help them sell their house like SellUrHouseFast.com.
   
   
8. Let buyer's sleepover.
   
   
   For potential buyers who seem serious but are on the fence about purchasing your home, let them sleep on it in your home. By letting the buyer spend the night, you are giving them the full experience of living there. This jesture could be just what they need to sign on the dotted line. Be sure to consult with your realtor or attorney first.
   
   
9. Try some hi-tech advertising.
   
   
   Some sellers and agents are using Talking House Radio Transmitter, which lets you record a customized message about the wonderful features of your home. Potential home buyers can tune into a radio station to hear this message as they drive pass your property.
   

10. Put your house up for auction.
    
    
    Auctions are not just for foreclosed homes anymore. Sellers looking to sell extremely fast are choosing this route. Just remember that the costs of auctioning your home off are often the same or more than the costs of selling a home through a real estate agent.
    


    
    
    

    If you are interested in learning how you can sell your house fast in as-is condition for Cash, Call (404)-220-7139 or email us at info@house4cashbuyers.com. Call us NOW and we can provide you with a customized offer - no risk, fees, or obligations! A brief phone conversation with us may actually be life changing!

5 Guidelines for Atlanta First Time Homebuyers!

The Atlanta housing market has received a lot of attention from the media lately. The city has worked hard to become a welcoming place that feels both like a big city and like home. A large city that feels familiar is often hard to find, and is the allure of Atlanta. The problem is that Atlanta is big and there are thousands of articles with tips and advice for first time home buyers. This can lead to confusion and a sense of being overwhelmed. These following tips will help you find your way home in the city of Atlanta.

1. Get Familiar with Atlanta Neighborhoods
   
   
   
   Each neighborhood is unique. Each neighborhood has its own personality. Some neighborhoods are geared towards families while others are perfect for lively singles. There are also many neighborhoods made specifically for retired living. It is important for you to devote some time to exploring Atlanta’s neighborhoods and suburbs. Find out what is nearby and what amenities are available to each neighborhood. Be sure to visit as many neighborhoods as possible in order to get a feel for the area, and to find out where you best fit. 
   
   
2. Do Not Go Over Your Budget
   
   Before you begin making offers on houses, know what you can afford to spend. The best way to do this is to get pre-qualified for your loan. As a general rule, your housing payments (including property taxes and insurance) should not exceed 30% of your budget. It is very hard to say “no” to a house that you love, but keep in mind that houses go up for sale every day. Stay within your budget as you make the transition to your new environment. 
   
   
3. Understand What You Want vs. What You Need
   
   
   Buying a house can be like dating. Sometimes you find the perfect house and jump right in. Then you realize that it’s not what you actually wanted and that you are stuck for a while. When house shopping, make a list of what you need in a house. This allows you to shop within your range and to view a variety of houses that fit your expectations. Decide on how many rooms you need in the house. A person with mobility issues will not want stairs. If you have dogs or children you may require a fenced yard. These things are non-negotiables. They are essentials for your house. Decide on houses based on these. The color can be changed. Carpets can be installed or removed. Curtains can be hung. Determine what you absolutely need and make your choice based on these things.
   
   
4. Require a Detailed Inspection
   
   
   A home inspection is essential for any home purchase. You may have a good eye for problems, but home inspectors are specifically trained to find things that need repair. Additionally, home inspectors do not have any emotional attachment to the house, so he/she will not overlook anything. He or she will simply give you the facts about the house that you wish to purchase. Many people who forego home inspections end up living in a money pit. They end up with endless repairs for pre-existing problems. A home inspection will point out anything that needs to be fixed before you sign on the dotted line. It is the best way to protect yourself when buying a new home.

5. Compare Prices
   
   
   In order to find out what homes in Atlanta are worth, browse homes that are for sale that are similar to the one that you want. This allows you to get a feel for the neighborhood and for what the property values actually are. It allows you to avoid scams and to be knowledgeable when negotiating home prices. If a price seems too good to be true, it probably is.

If you’re interested in purchasing and would like to speak with a local real estate professional, call Leonard Gresham at House 4 Cash Buyer's at (404) 220-7139. You can learn more about the real estate market in Atlanta, by visiting my website at www.house4cashbuyers.com. Feel free to call with your questions about certain areas! We look forward to hearing from you!