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It’s one good way to make money, heck, some people even make it a living! Like most businesses, flipping houses takes time and dedication. Apparently, now is one of the best time to flip real estate properties in Edmonton. The industry is on an upward trajectory and it’s projected to last for a couple of more years.
Here at Team Leading Edge, we gathered some of the ways to do this effectively, so you would not waste money. Take note and good luck!
First and foremost, avoid at all cost involving your family. It doesn’t matter if your family is a contractor, it’s never a good idea to mix family with business. Utilize third-party contractors.
Speaking of contractors, shop around for contractors who would make the repairs for the property and always remember to inspect it as often as possible when the project is being done. Interpretation errors are one of the major risks that you would encounter in this business so from the very start it is best to make sure you provide crystal clear terms of what you are expecting them to accomplish.
Diligence is key, make sure to store each and every receipt or bill you receive from your contractors.
Great lighting can greatly increase the chances of having the house sold from the very first showing so utilize bright lights!
The truth is, buyers would start making their decisions once they stepped in front of the door, so always ensure to “Wow” your buyers from the moment they lay their eyes on that door.
Double check if the gas lines, plumbing and electricity are working. The keyword there is “double check”. You wouldn’t want to embarrass yourself if you tried to switch on the light and it fails.
Last but not least, hire professionals to help you sell the property quickly! Team Leading Edge, sells houses for breakfast. As a matter of fact, the team have been awarded once AGAIN as one of the top 50 RE/MAX real estate teams in Western Canada for the month of October based on paid out commissions-that speaks volumes to the quality of service the team would bring to your business.
Check out the available homes for sale in Edmonton that you could very well flip, our Edmonton MLS listings are updated in real time so you could be sure to get instant access to the real estate market.
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