Whether you’re interested in flipping a foreclosure to sell or rent out for income, the process can be a bit daunting. Here we’ve compiled a list of expert tips to help you navigate the waters of turning a foreclosure property into a profitable flip.
- Know your market. Flipping in Denver takes more money than in areas with lower home prices. While you can find good deals, foreclosure prices will still be higher here than in areas that aren’t growing as quickly.
- Make a full-price offer. Like any investment, successful house flipping hinges on buying low and selling high. But where the past few years may have seen opportunities to buy at deep discounts, today’s flippers might have to pay full price.
- Find a pro. If you’re not familiar with the foreclosure purchasing process, it’s imperative to hire a real estate pro who experienced with these types of transactions. Trust us – you’ll be glad you did.
If you’re thinking of purchasing a foreclosure for flipping or rental opportunities, the experienced professionals at Metrowest would love to help. We specialize in these types of transactions, so contact us today to get started!