HOUSE FLIP

What is house flipping? House flipping is when someone buys a property and holds onto it for a short amount of time and then sells it (the flip part) in the hopes of making a profit. Instead of buying a home to live in, you’re buying a home as a real estate investment. The goal is to buy low and sell high, invest your own sweat equity to cut costs and earn a profit in a relatively short amount of time — usually within months or a year.

​

How to get started:

• Set a budget

• Find the right property

• Make an offer

• Set a timeline

• Hire trusted contractors

• Sell your property

​

Common house-flipping mistakes:

• Not having enough money

• Thinking it’s easy

• Not setting up the right team

• Trying to do it as a side hustle in the long term

​

Before jumping into house-flipping, make sure you get your finances in order. There are plenty of home loans you can look into for financing investment properties, like home equity loans, a home equity line of credit, or even construction loans. There are personal loans available for home-related updates, but compare the interest rates and loan terms to different home loans first.

​