Time is of the essence in the world of fix and flips. If you take too long to improve an investment property, you could be losing money.
The real estate business is full of tips and tricks to sell a home quickly. Add to that a few ways to cut time while fixing and flipping a property so you can realize your returns faster.
5 Time Management Tips to Fix & Flip Your Properties Faster
- Research and network. Before purchasing a property, it helps to know what you’re doing once you’ve begun, and it helps you avoid getting stuck. If you know what you’re doing, how to do it, and who to call when you need help, you’re on the fast track to selling.
- Don’t over-fix. Look around the neighborhood before beginning. If the neighbors don’t have pools in their backyards, you shouldn’t take the time to install one. Make this property fit in with the neighborhood.
- Prioritize. Focus on more profitable improvements first. If there is an issue with the roof or foundation that could make or break a sale, schedule that as a priority fix. Low priority items can be nixed off the list if time becomes an issue. Improving the kitchen and bathrooms also may be a more valuable allocation of time vs. painting ceilings and upgrading bedrooms and closet space.
- Don’t forget finishing touches. Small projects can make all the difference when it comes to selling a house. Small finishing touches like fresh paint or new doorknobs don’t take long to do, but give the home a polished look. Include important small touches in the priority list.
- Choose a lender with a quick turnaround. Don’t get stopped before you’ve even left the gate. Find a hard money lender who will put the cash in your pocket quickly so you don’t miss out on the investment. A hard money lender can also help you leverage your cash so you gain more investment opportunities.
Catalyst Funding offers competitive rates and a quick approval process to help jump-start you on your path to success. Apply today for approval, and we can give you terms within 24-48 hours. No more waiting: get started today.