Your Ultimate House Flipping Checklist

Your Ultimate House Flipping Checklist

By | 2017-06-29T21:09:26+00:00 June 29th, 2017|California, Hard Money Blogs|Comments Off on Your Ultimate House Flipping Checklist

What to Expect and Inspect: House Flipping Checklist

When it comes to buying a home, the house inspection is incredibly important.

When you find a property that you are interested in purchasing and you decide to take a look at it, whoever is showing you the home is obviously trying to make a sale. This means that they might not be entirely upfront with you about the details.

It is up to you (and an inspector) to discern for yourself if the property is worth the asking price. It is always a good idea to hire an impartial third-party inspector to tell you exactly how much you will need in order to do any maintenance, repairs, etc.

However, before you hire an inspector, you should look at the home yourself. Here is a quick checklist that you can use when looking at properties to flip:

Homebuyer’s Due Diligence Checklist

Property Interior

  • Square footage
  • Condition of light fixtures and appliances
  • Fire inspection
  • Plumbing
  • Check for any mold
  • Condition of kitchen appliances
  • Age of structure
  • Count bedrooms and bathrooms
  • Check for alarm system
  • What kind of flooring?
  • Check conditions of windows

Property Exterior

  • Size of yard
  • Condition of landscaping
  • Condition of fencing
  • Schools in the area
  • Condition of sprinkler system

These are just a few things that you should check for when looking at a home. Knowing the costs of repairs and maintenance will help you when determining your profit margin. It is always best to over-estimate the costs so that you don’t need to spend any extra money or take out any loans than you plan on.

About the Author:

Yanni Raz is The Founder and CEO of HML Investments, with over 15 years in the real estate and hard money lending industry, Yanni is an expert in real estate investing, trust deed investments and more.