{"id":12508,"date":"2019-05-21T11:11:21","date_gmt":"2019-05-21T18:11:21","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12508"},"modified":"2019-05-03T09:56:16","modified_gmt":"2019-05-03T16:56:16","slug":"how-to-flip-a-house-for-profit-in-2019","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/","title":{"rendered":"How to Flip a House for Profit in 2019?"},"content":{"rendered":"

Thanks to popular TV shows like Master of Flip and Flip or Flop, flipping houses has become all the rage today. It\u2019s such an interesting and easy way to make tons of money. All you have to do is buy a not-so-good-looking home, renovate it to give it a fresh new look, list it on the market, and make a massive profit on sale!<\/p>\n

Here is the thing- flipping houses may seem easy in theory. However, to make it really work, you must have a strategy and know what you are doing. The following are a few tips that can make you successful in this endeavor :<\/p>\n

Improve Your Credit Score<\/strong>
\nThe benefits of a good credit score are plenty which include better interest rates, easier loan repayment terms, faster approvals, etc. However, it\u2019s even more important when you want to earn profits from flipping a house. This is because you need a home loan if you want to buy a property, and to get it approved, you need a good credit score.<\/p>\n

You can get a copy of your credit report from all the main credit rating agencies viz. TransUnion, Equifax, and Experian online to see where your current credit score stands at. If it\u2019s not up to the mark (ideally should be above 700), then you can take various steps to give it a push including clearing your old debts, lowering the credit utilization ratio, fixing credit report discrepancies, etc.<\/p>\n

Arrange Cash<\/strong>
\nYou need lots of cash to get in the house flipping business. This is because a good chunk of it is spent on the down payment for the home loan that you need to take which can be as high as 25% of the cost of the property, and there are all kinds of renovation projects that you also need to fund. You may also want a home insurance cover to protect your investment. If you don\u2019t know how it works and what\u2019s covered, then it\u2019s strongly recommended that you read more about homeowners insurance coverage in plain English on the web.<\/p>\n

Picking a Good Property<\/strong>
\nThis is perhaps the most important part of house flipping. This is because the whole point of reselling a house is to generate a profit, and you want to maximize it as much as possible. This can be achieved by doing research and finding a house that costs less but can fetch a substantial price when sold. For this, you should consider the following factors:<\/p>\n

Location<\/strong>
\nLocation plays a big role in house flipping or even when someone is buying a property for themselves. This is because it can be rather challenging to sell a house that\u2019s located in a bad neighborhood even if it\u2019s remodeled and embellished with modern d\u00e9cor. So, look for a house that\u2019s located near to some of the most important buildings in your city which include the main markets, schools, business parks (for the salaried individuals, etc.). Also, make sure that that the crime situation near the house is not bad.<\/p>\n

Physical Condition<\/strong>
\nWhen the condition of a house is poor, then you can buy it at an attractive price which makes reselling more profitable. However, you don\u2019t want a property that requires so much renovation and repairs that the profits don\u2019t justify the financial investment and labor.<\/p>\n

Tips on How to Flip a House for Profit in 2019<\/a> by Jamie Richardson | Realty Biz News<\/p>\n","protected":false},"excerpt":{"rendered":"

Thanks to popular TV shows like Master of Flip and Flip or Flop, flipping houses has become all the rage today. It\u2019s such an interesting and easy way to make … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-12508","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"\nHow to Flip a House for Profit in 2019? • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"How to Flip a House for Profit in 2019? • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Thanks to popular TV shows like Master of Flip and Flip or Flop, flipping houses has become all the rage today. It\u2019s such an interesting and easy way to make … [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/how-to-flip-a-house-for-profit-in-2019\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/how-to-flip-a-house-for-profit-in-2019\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"How to Flip a House for Profit in 2019?\",\"datePublished\":\"2019-05-21T18:11:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/how-to-flip-a-house-for-profit-in-2019\\\/\"},\"wordCount\":586,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/how-to-flip-a-house-for-profit-in-2019\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/how-to-flip-a-house-for-profit-in-2019\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/how-to-flip-a-house-for-profit-in-2019\\\/\",\"name\":\"How to Flip a House for Profit in 2019? • Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2019-05-21T18:11:21+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/how-to-flip-a-house-for-profit-in-2019\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/how-to-flip-a-house-for-profit-in-2019\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/how-to-flip-a-house-for-profit-in-2019\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How to Flip a House for Profit in 2019?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling & Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How to Flip a House for Profit in 2019? • Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/","twitter_card":"summary_large_image","twitter_title":"How to Flip a House for Profit in 2019? • Rory C Real Estate | Oakwyn Realty","twitter_description":"Thanks to popular TV shows like Master of Flip and Flip or Flop, flipping houses has become all the rage today. It\u2019s such an interesting and easy way to make … [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"How to Flip a House for Profit in 2019?","datePublished":"2019-05-21T18:11:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/"},"wordCount":586,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Real Estate"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/","url":"https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/","name":"How to Flip a House for Profit in 2019? • Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2019-05-21T18:11:21+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/how-to-flip-a-house-for-profit-in-2019\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"How to Flip a House for Profit in 2019?"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling & Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=12508"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12508\/revisions"}],"predecessor-version":[{"id":12509,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12508\/revisions\/12509"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=12508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=12508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=12508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}