If you want to build and grow a successful house flipping business, you really need to learn how to flip a house as fast as possible. The faster you move on a deal, the faster you’ll see a return on your investment, and the sooner you’ll be able to move to your next flip and make even more money. When you can get to the point when you’re flipping multiple houses, you’ll be bringing in cash regularly and flipping new properties on a weekly basis, so let’s talk about a few of my favorite tips to get you there.
Keep in Touch With Multiple Investors and Lenders
Flipping houses fast starts before you even buy your investment properties. When you see a great deal, you need to be able to act fast before someone else does. That means you need to have access to investment capital at a moment’s notice, which is why I keep in close contact with several investors and lenders. If one of my funding options falls through, I just move on to the next contact in my phone.
Build Strong Relationships with Your General Contractors
As you probably know from watching the show, we work with a few different contractors on a regular basis. Because they know we’re always making deals and doing rehabs, these guys make us a priority whenever we call them for a project. Sometimes we have too many projects going at once for one contractor to handle or one of our contractors is booked up when we make a deal. Then we call one of our other favorite contractors and use them.
It’s that easy because we don’t bounce from one contractor to another with every job. We work with these guys regularly and consistently, and we provide them with a lot of income. They know that working with us is good for them, and they know that we’re on a pretty strict timeline with every job we give them. Because they want to keep working with us, they do high-quality work for us, and they do it as fast as possible.
Start Marketing Your Flips Early
I’ve said before that starting a rehab from the outside is a great idea, and here’s why. When you mow the lawn, paint the house, and get the place looking great from the outside, it gains instant curb appeal. Then you can put a sign out front and start advertising that the house will be on the market soon. Doing this builds buzz around the property and gets people interested. And, on the day of your open house, you’re going to have a lot of potential buyers walking through the door.
Call on Professional Stagers
When those potential buyers walk in, you want them to be totally impressed, and you want them to picture themselves living in the house. Stagers are professional designers with lots of up-to-date furniture and décor that they use to create the perfect atmosphere in homes for sale. Christina and I almost never flip a house without getting our stagers to come in and make it look like a home where people really want to live.
Finally, don’t forget to follow up with people who showed interest in the house. If they email or call you afterward to ask questions or make an offer, keep in touch with them. In a lot of cases, they want to buy the house, but they might need just the right nudge.
And those are my tips for how to flip a house in as little time as possible. Use these, flip more houses, and watch your house flipping business grow.