Over the years, I have invested in many fix and flip projects. One of the biggest concerns for me and my husband is selling the property fast after the project has been completed. After lots of trial and error, I have learned some important lessons in how to make the property marketable. Here are some tips to move your fix and flip quickly!
Try Your Hand at Marketing
It is always wise to invest in the professionals and hire a realtor to list your property, but this isn’t the only thing you can do to help move your property faster. Consider trying some of your own marketing such as a yard sign, Craigslist, a newspaper ad, social media and email marketing, open houses, networking, creating your own website, etc.
Consider Staging the Property
In today’s competitive market, it is important that you have the upper hand when marketing your investment property. Home staging is a popular trend that is helping fix and flippers sell homes more quickly and for greater profit. On my last fix and flip project, I decided to hire a professional to stage the home for me. I have never sold a property as quickly as I was able to using the help of Dahl House Design to stage the home before the open house. The process was simple. The designers made the home pop, emphasizing its best points and even making its flaws appear in a positive light. When potential buyers arrived to view the home, they could instantly envision themselves making the property their home. This was an extremely lucrative investment and I would definitely work with Dahl House Design again with future properties.
Determine Who Your Target Market Is
Before you begin renovations, it is important to consider who your target market will be when listing the property. It will be imperative that you consider the culture and designs of the people and homes around the vicinity of your fix and flip property. Be sure to set aside an ample part of your budget to cater to the must have features a typical buyer is looking for in your area.
When it is finally time to list your completed project, you will need to decide if you would rather sell the property using a real estate agent or try your hand listing your property on a for sale by owner website such as forsalebyowner.com. Each will have its own unique set of pros and cons. A real estate agent is typically a sure-fire way to make sure your home moves quickly but can also cut deeply into your profits. Listing the home yourself can preserve your profits, but if the property stagnates on the market you could end up losing money.