In this episode I talk about flipping properties and reflect back on our experience. When you are looking to flip properies for families as opposed to investors (covered in the last podcast), you always want to try to make an emotional connection with future purchasers. When you look to invest for investors to purchase your property, they look at maximizing rental revenue and are less focussed on the detailed asthetics. Unlike homeowners, they are less emotionally invested as a result over investing can be a sunk cost,

When looking to build an emotional connection with your purchasers, there are three key areas that have worked well for us when looking at where to put those investment dollars.

First is the heart of the house which happens to be your kitchen. You want to stay on a budget of course but dont be afriad to invest a little more in this area. When a new homeowner purchases a home, they want it to be move in ready. So if you go the extra mile, homeowners will reward you for this investment.

The next area in the home you want to consider is the bathroom. This is sometimes a make or break for homeowner seekers. Again, they want to minimize any work when purchasing a home. If you have the work done in advance, they will reward you for the work.

Last is ensure your property is decently landscaped. Sometimes homeowners wont even step inside your home if it doesnt look decent on the outside. Often times the perception is if you take care of the outside of your home, there is a good chance you will take care of the inside.

Also when looking to sell your home, dont forget the option of hiring a staging a company. Sometimes they can decorate the room in a way that would open options for homeowner, who may be willing to pay a bit more in light of what the staging shows them. I have found that staging services have worked well for us in the past.

Well that’s about for this episode folks. Be sure to listen to the podcast or send me a note at [email protected]

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