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Flipping Homes the Unique Way: Which Properties Can Get You Ahead of the Competition

Monday, January 23rd, 2012

Flipping homes can be lucrative, but competition can also be tough, given the amount of people who have discovered the potential profit that this venture can provide. To distance yourself from your competitors, you may need to think outside the box and consider properties that are not usually used in house flipping.

profit-from-flipping-houses

However, caution is still necessary as going beyond what is ordinary can be risky. But if you do it right, you will stand out and distance yourself from the rest of your competitors. This can also result in your investment return reaching a level that is higher than you expected.

Unusual Options

Flipping is the practice of buying a house for a low price, fixing it up and selling it quickly. For most flippers, the main choices are fixer uppers and regular single family dwellings since these are the most commonly sought properties. If you want to stand out however, you may want to consider other types of properties that do not merit a second look from other flippers.

First are old homes or early-century architecture. The market for these types of houses may be limited, but those that look for these types of dwellings are often the serious ones and have the money to shell out. There are a number of early century dwellings that are being sold at very low prices because of the condition of the housing industry. Most of these properties have sound foundations since the older the models, the better they are built. If you can find a historic dwelling up for sale and the repairs needed are just aesthetics, you may want to consider it as this will give you a sure market, albeit a smaller one.

Energy Saving Dwellings

Another option that is gaining popularity are eco-friendly homes. You can buy a house for cheap, then repair it and add energy-saving features to it. A lot of homebuyers nowadays give a lot of weight to houses that can provide them with savings, particularly when it comes to their energy bills. You may have to spend more money for these additional features, but there is a market for these types of dwellings and this market is not as crowded with sellers as the market for regular residences.

Risks of the Trade

Of course, these options are not really common in house flipping. The best thing about them however, is that competition will not be as tight and as mentioned earlier, interest in these unusual dwellings is rising. To improve your chances of getting your flipped house sold, source out potential consumers for these types of homes.

You do not need to build specifically for them, you just need to find out whether there are buyers in your area or in nearby cities who are interested in such dwellings. Investing in regular single family dwellings and fixer uppers may be the safest route, but since flipping homes have become more popular, competition has tightened among sellers and opting for the unusual may be your best bet to separate yourself from the rest of the competition.

Flip homes like the expert at .


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