What should you be looking for when searching for houses to flip? Besides just being affordable, there are a number of factors to consider for each home and neighborhood you check out. Follow this amateur’s guide to learn how to find houses to flip in New Orleans, LA.
Fountainbleau Self Storage is your local destination for all things storage and packing. See how we can support you during your house-flipping journey!
As you look for houses to flip, make neighborhood research a task early on in your searches. You can change parts of the house you do not like, but you cannot change your neighborhood. Make sure it has the qualities in a place to live. In order to find a neighborhood with the qualities your ideal buyers are looking for, you need to first identify your ideal buyer. Flipping a multi-bedroom house to a family would be easier in an area with low crime rates and a good school district. On the other hand, you may better flip a one- or two-bedroom house to a couple or set of working professional roommates. They probably are not looking at schools as a buying point, but they might be interested in accessible public transportation and nearby entertainment.
Start your research with New Silver Lending’s state-by-state guide to house flipping.
A good starting point for your search is to hire a local real estate agent who specializes in house flipping. Having a professional who knows the area walk you through the buying process will help ensure nothing important gets overlooked. In addition to searching with your agent, you can also keep an eye on auctions for foreclosures. In these properties, you may be able to find an affordable fixer-upper.
And then there are online real estate marketplaces. We shop for everything else online—why not houses? Zillow is a popular example of a website that lets you browse listings nationwide. Plus, it includes helpful tools, like its Home Sellers Guide and Foreclosure Center, to aid in teaching you the different real estate processes and trade secrets.
What are some red flags in a house for sale? Looking through the house-flipping lens, you want a price in your budget that will stay in your budget after you spend money to make repairs. You may be able to afford a house initially, but it could require hefty renovations that would push your spending far over your limit. To stay on budget, try to avoid these costly issues:
When you finally do settle on a house to flip, look to Fountainbleau Self Storage to assist in organizing your next projects. Keep equipment and materials from cluttering the house and your workspace. Rent a nearby self storage unit in Mid-City New Orleans, LA, to hold what you do not immediately need; then swap items in and out when you do need them. You find everything you need with Fountainbleau Self Storage online today!
About the Author: Katie Mest is an SEO Specialist at Storage Asset Management in York, PA. She specializes in writing about the self storage industry, including storage tips and helpful resources. Outside of work, Katie enjoys camping, hiking, and exploring the outdoors with her newly adopted Greyhound rescue, Titan.