Connecticut foreclosures are a great chance for new and experienced real estate investors to make a huge profit quickly and easily. Flipping homes can be challenging – if you’ve ever seen an episode of Flip This House, then you know how hard it can be. However, if you keep some of these tips in mind, you’ll be in good shape:
• Get the property inspected. Before you pick up any Connecticut foreclosures, do your due diligence and have the property inspected. A home may look decent at first glance, but may have some underlying problems that can be prohibitively expensive to fix. Make sure you’re getting the property you want by having a qualified home inspector give the home a once-over.
• Minor renovations can mean big bucks. Something as simple as updating the bathroom with new fixtures can make Connecticut foreclosures more appealing to potential buyers. Sometimes, all a home needs is a fresh coat of paint and new floors to boost the value by thousands of dollars.
• Focus on curb appeal. You should put at least 10% of your total budget into landscaping and curb appeal. Make sure the home looks decent from the outside, and people will be more inclined to purchase your newly-flipped property.
• Location is most important. Flipping Connecticut foreclosures can make you tons of money, but only if the property is in a good location. You can change the home, but you can’t add more parks, better schools or closer amenities. Look for foreclosures in decent neighborhoods to maximize your investment. While the initial property may be more expensive, it will make it easier to sell down the road.
Make a big bang for your buck by flipping Connecticut foreclosures. Pick up a property on the cheap and make a few upgrades to see your investment multiply.
