House Flippers: Building A Good Reputation In Three Easy Steps
All too often we see disreputable house flippers in the news. These house flippers get bad reputations rather quickly for pulling stunts like only making cosmetic changes to run down houses. Just watch any show with Mike Holmes to see how bad house flippers have actually endangered the lives of homeowners by selling houses that only “look” fixed up. Fortunately, there is a way for house flippers to build a credible reputation quickly in three easy steps.
1. Honesty Is Your Number One Quality
Honesty is a rare trait in every business, but especially in the commercial real estate market. Everyone knows of a few house flippers who treat properties like used cars, and wait for the next mark with money to come along. If you want to stand out from the crowd, adopt a policy of honesty and transparency. Get a thorough inspection of your properties and try to fix everything to the best of your ability. If you can’t fix it yourself, hire experts who can. When talking with potential homeowners, let them know what your fixed or improved, and if you couldn’t get to something on the list, disclose that to the buyers.
2. House Flippers Participate In The Community
Most house flippers realize that they are doing much more than selling houses. They are revitalizing properties, raising the value of houses in the immediate neighborhood, and bringing money into the local economy. The good work does not stop there. To build a strong and positive reputation, house flippers need to be visible, and participate in public events to show they are invested in the very communities they are trying to improve. Whether it’s helping to clean up a public park, help someone whose house suffered damage during a storm, or simply showing up to charity events, showing love for your community goes a long way with potential buyers.
3. Think, Act, And Hire Locally
House flipper sometimes go for run of the mill solutions when renovating houses. They go to the big box stores to get supplies, and often hire inexpensive out-of-town contractors and laborers. To set yourself apart, try to find everything locally. The businesses will appreciate the patronage, and so will the local contractors. If you are putting in something special, try to get that made locally as well. Sometimes, local businesses are willing to cut house flippers special deals for continued work on other projects and free advertising. It helps to be part of a local business network.
If you would like to learn more about flipping houses and finding the best financing solutions to keep your commercial real estate projects on track, contact CounselPro Lending today.