Updated information on the ProFraternity Real Estate Training (previously posted here) – we now have altered the curricula and added a module on house flipping. If you are interested to enroll into the program, please contact your local coordinator or call 212-710-0472.
Here’s a sample course content from an AFA instructor John Hughes, MSc (Cardiff). Get in touch with John – email@example.com or firstname.lastname@example.org
House flipping – the do’s and the don’ts
There are a lot of people that want to get into the house flipping market. After all, you can make huge amount of money flipping houses if you know what you’re doing. Unfortunately, many house flippers make a lot of mistakes that end up hurting their bottom line. Above all else, remember that house flipping is a business and any mistakes will cost you money. The following paragraphs will talk about some of the do’s and don’ts associated with house flipping.
When it comes to house flipping, one of the “don’ts” is considering your personal feelings. If you fixed up a house and now you have an emotional attachment to it, don’t let it get in the way of an offer. If you get a good offer on the house, accept it and move on. Don’t reject the offer simply because you want to spend more time with the house. If you employ this logic, you could end up missing out on a great deal. Here’s a good article on Trulia.com regarding house flipping – click here.
Also, you shouldn’t renovate the house as if you will be living in it. Everything you renovate should be renovated with the buyer in mind. Do not paint the walls odd colors. Instead, stick with beige. Beige is a neutral color and will please a lot of people. Make sure that all of the fixtures you install are neutral as well. Even though the cosmetic aspects of the house can be changed easily, many people don’t like putting forth the effort. If you have bright green cabinets or blue carpeting, people will not want to buy the house even though the fix is easy.
One of the “do’s” of house flipping is talking to realtors before starting your renovation. Talking with realtors can give you insight on what today’s buyers are looking for in a house. You will be able to maximize your profits if you find out what the buyers want. Maybe buyers in the area are looking for more bedrooms instead of common space. Knowing this ahead of time can help you create a new floor plan that will maximize square footage, and this is especially important if your property is something like a KLCC condominium or an apartment in downtown Manhattan.
Finally, make sure that you pay attention to curb appeal. Many house flippers only focus on the inside of the house. What most renovators forget is that an attractive exterior will help bring prospective buyers in. It doesn’t matter how good the inside of the house looks if it’s ugly on the outside. Make sure that the landscaping is attractive and that the house has a fresh coat of paint on it. Just like with the inside, you should always try to keep the outside neutral.
Now that you know the do’s and don’ts of house flipping, you should be able to maximize your profit. Keeping the tips listed above in mind during your renovation will help please buyers and increase your bottom line. House flippers are good at focusing on the big picture, but they need to realize that the little things matter too.
Searching For The Perfect Apartment For Flipping
If you are looking for an apartment, you should know that there are various ways to search for the perfect one for you, such as browsing the World Wide Web, walking or driving around the neighborhood, or putting apartment locators to use. Believe it or not, finding the perfect apartment in the right neighborhood for the right budget and with the right amenities really isn’t that hard, if you know exactly how to deal with the process as a whole.
Here are the most effective ways to find the perfect apartment for you:
- Hire a Broker.
If you want to find a good apartment in a big city, then you can should consider hiring a real estate broker to help you out. Even if you already know what the general neighborhood is like, it would still be best to look for a broker that is already based in that neighborhood. This will ensure that you will end up working with somebody who is very knowledgeable with the surroundings and already knows what is available in your budget.
The majority of brokers nowadays can also provide you with websites that you can look at to see the different apartments that you can rent in the area along with pictures and descriptions of each unit. Naturally, before you hire a broker, you should do some research on the company that they work for, though. Broker services aren’t exactly cheap, so you have to make sure that you are hiring the services of an experienced and licensed provider before shelling out any money for what they have to offer.
- Use an Apartment Locator.
Apartment locators happen to be efficient and fast services that can help you find apartments to rent in your neighborhood of choice. Most locators can actually give you access to a huge database of possible apartments to rent across the area that you are interested in, making it much easier for you to find one that suits your personal needs best. To locate a property for sale in Malaysia, check out http://PropertyForSale.com.my/ .
- Listen to Word-of-Mouth Recommendations.
If you want to avoid the expensive fees that tend to come with brokers or agents, you can tell your relatives, colleagues and friends that you are currently searching for an apartment. A lot of people actually end up finding a great apartment through word-of-mouth alone.
Conversely, you can also walk or drive around the neighborhood that you want to live in and just search for signs that can point you in the right direction. This in itself can give you a good idea of what is currently available in the market.
- Look through Classified Ads.
Although this method might sound a bit outdated, many people still find good apartments by looking through classified ads in community papers or local newspapers. If you’d prefer, you can also go online and read through messages boards and websites to find what you are looking for. A lot of the time, local papers even work with websites to come up with the most recent classified ads to ensure that the people visiting their websites get updated listings whenever they need them. To find information about a particular KLCC condo, go to http://klcccondominiums.com.my and start researching.
To learn more about house flipping, enroll into the program which is led by me and my fellow AFA instructor Paula K. Barnes. More information could be obtained from your local ProFraternity lead coordinator, or by emailing email@example.com