House flipping requires strategy. Savvy investors know that slapping on a fresh coat of paint and changing a few doorknobs won’t bring about a significant return on their investment. Jason Cohen, founder of the real estate advising group Jason Cohen Pittsburgh, realized this need for investment strategy when he bought his very first property. With the limited funds available to him at the time, Jason couldn’t afford to sink money into unneeded updates; he needed to plan out his renovations and open the property to tenants without going over a set budget. Working on that initial project, Jason Cohen learned that a few carefully chosen renovations could net him a larger return than a few haphazard repairs ever could. Aspiring house-flippers should consider undertaking these worthwhile and inexpensive updates when they purchase a property!
Selling a house isn’t like hawking lemonade on the neighborhood corner. The process isn’t a simple offer and exchange; it’s a drawn-out process that requires careful handling and weeks – if not months – of considered negotiations. Unfortunately, not all buyers and sellers realize what they sign up for when they enter the housing market, or that the endeavor will take more than a chipper listing on Zillow and a friendly conversation at an open house.