Real Estate

The Dos and Don’ts of Home Flipping

posted: 01/09/13
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Property Wars bidder Scott Menaged
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Have you ever wondered if it's really possible to make a living flipping houses? It is if you know what you're doing. Property Wars buyer Scott Menaged offers up a few quick tips for anyone looking to make a name for themselves in the auction market:

o Do not bid with your emotions. Stay focused!

o Do not overpay for a property simple because you've fallen in love with the house.

o Do not arrive late to the property site. Allow yourself plenty of time for a thorough inspection prior to bidding on the house.

o Always check with a title company to verify what property you are bidding on.

o Always make sure the home is clean and presentable before listing on the market.

o Do not over-improve the house because you generally won't recoup those extra expenses. For example, there's no need to spring for $400 doorknobs when $30 doorknobs can look just as presentable.

Tune in to Property Wars Thursdays at 10/9c to see how these savvy buyers navigate the real estate market.

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