House Flipping 101 Designing
As we get closer to the end of our flip, it’s time to make our flip sell-able to the larger percentage of buyers.
This episode of “House Flipping 101” transitions very smoothly from the previously which was on Renovations. In that episode we talked about why remaining neutral in colors choices, as well as putting curtains up for color is a great way to add color and flavor to the home at a much cheaper cost. Changing curtains is easier & cheaper than repainting walls.
Designing or Staging can play a major roll in selling your flip. You as the flipper want that larger percentage of buyers and should always remember you are not buying your flip. You are SELLING IT!
Consider seeking the advise of an interior designer. An interior designer can give you ideas on what to do with regards to designing your flip. You as the flipper are not in the business of designing or Staging your flip. Again, you are in the business of SELLING YOUR FLIP for as much profit as possible.
The cost of a designer can vary and here is my grandfathers advice on that. When looking for a designer tell them your intentions, your goal(sell the flip). Do NOT set up your house as if someone is currently living there. Keep it simple, clean, and neutral. Allow your potential buyers to view your flip as a template, so they can input there own ideas and design choices into the space. If you want your home sold, then you want buyers to be able to put themselves in the picture of living there.
Decorate your flip so it shows well, keep it simple use throw rugs, curtains, indoor plants, table and chairs so potential buyers can sit and talk about your flip, have a refrigerator for cold drinks, all of these are cost effective and add to your flip. Many open houses will have freshly made coffee and/or freshly baked cookies to give buyers that feeling of being at home.
You have to tell your designer that all designing features have to be re-usable, sell-able if you won’t need them again or cheap enough so they can be disposed of easily. Don’t chip away from your profits with silly unneeded cosmetics.
If you choose not to go with a designer and try this on your own, here are some ideas. Take the type of house your flipping, and then compare it to other design ideas from websites, books, magazines, etc… even consider going to open houses of similar homes and see what they have done. If you find a success design that works consider mirroring the designs so it can work for your home too.
Make sure your design actually makes sense for the location. For example don’t put a deer head hanging in the living room of a beach home in a vegan surf town.
If you use a designer you may want to put their information on the table for reference. A designer can help you sell your flip by giving the buyer ideas on how to handle any negative points the buyer may have.
So there you have episode #7 on Designing. Remember when your designing your flip to be sold…
Keep it simple, keep it clean, allow visual space for buyers to imagine what it would be like for them living there. At the end of the day your goal is to sell the home, you’re an investor, a salesperson, you’re not a designer. Don’t lose track of your main objective, sell the flip and lock-in profit.
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This is episode #7 of house flipping 101. We only have 2 episodes left to make. Next episode, episode #8 will be on marketing. And the last episode of this 9 episode series will be episode #9 on profit/loss.
Thanks for watching and until the next blog remember…. always be learning, always be creating, and always be inspired!