Determining Your Sale Price

Consult your real estate agent before settling on a sale price. This is something you need to do before you purchase the house.

You can tweak the price after your expenses have been totaled and you have a chance to evaluate the quality of the work.

If your profit margins are good, consider selling it for a little less than the average house in neighborhood. Flipping is the name of the game. If you are offering a totally rehabbed house at $500 less than a comparable house down the street, you have the advantage.

Many flippers would rather have the sale, take their profits and move to the next house.

Remember, every day that house sits unmoved, the carrying charges continue to mount – interest on a loan, property taxes, insurances, utilities, association fees.

Don’t let your pride or ego get in the way of a solid business transaction.