Fix and flip homes can be a great way to make money if you find the right home at the right price and can do the work yourself. Where do you find these homes? Here are some ideas for finding a fix and flip home.
The best place to find a fix and flip home is the MLS, but you’ll need to be a real estate agent or work with an agent to use the MLS. If you don’t have access to MLS, think about getting your own license. In the meantime, use the real estate sites that everyone else uses, such as Zillow, Realtor or RedFin. It will help you find some homes that could be a great fixer upper.
Browse Auction Listings
If you have the ability to pay cash, auctions can be a great option. You should be very aware of your budget, because you won’t be able to see inside before the sale. Sticking to a budget can help you make a profit. You may also catch a deal, but there’s a big risk.
Drive Through Neighborhoods
If you’re planning a fix and flip, you probably live close to where you want to invest. Drive around and look for fixer-uppers. Attend open houses to see what neighbors have done and what people want. Local business owners may be good connections to find fix and flip homes.
Check Eviction and Foreclosure Records
Many sellers who can’t sell their home will rent it out. Look at homes that have had to evict a renter for sellers who are ready to get the problem house out of their hair. An empty house that needs work is a liability. The seller may be more motivated to sell.
Need funding for your fix and flip homes? Contact Star Capital USA to discuss financing your business.