value with minimal investment. By setting the mood and emphasizing the house’s appeal, strong lighting can help a homebuyer better envision how he or she would like to live in the space. Such renovations could simply involve changing the light fixtures or light bulbs throughout the rooms to ensure they aren’t outdated. Or they could involve increasing the home’s natural light by installing a handful of windows in the dining or living area to bring in more sunlight. Once you change the lighting, you’ll notice its potential to shift a buyer’s perspective of your home almost immediately.
and tear. A fresh coat of paint or a new color with defining trims and a strong contrast can really tidy up the home’s appearance and give it some extra life. Taking the time to ensure all scratches, cracks, and chipped paint are taken care of can spruce up the space and brighten rooms consid- erably. Depending on the square footage of the home, you’d likely only need to spend a few thousand dollars painting the interior. Flipping houses is no simple task. Depending on your location, the house’s condition, and your desired after-repair value, one investor’s budget and vision of a property’s po- tential could be drastically different from another’s. Your goal, as a keen investor, is to maximize the amount of value creation while minimizing the amount of capital needed to achieve that value. If your budget is a bit more flexible, consider updating the bath - rooms, kitchens, and interior of the
home. Modernizing the property with newer appliances and a fresh new look could really boost your overall profit potential. However, if your budget is a bit tight, consider, at the very least, painting the rooms, land- scaping the yard, and updating the house’s lighting. You’d be shocked to see what kind of curb appeal you can create with just a few minor touch ups across the property. •
Ryan Zomorodi is the co-founder and COO of www.RealEstateSkills.com, a real estate investing education platform that has trained thousands of students across the nation to start and grow real estate investing businesses. Zomorodi is the managing editor of the Real Estate Skills blog, which has been ranked as the #1 real estate wholesaling blog on the web. Zomorodi has more than 10 years of real estate investment and management experience, including acquiring over 100 homes for flip, wholesale, and rental across a dozen states.
5. INTERIOR PAINT Another relatively low-cost
alternative you should consider when designing your house flip is an interior paint job. Generally, whether the house was occupied by a previous tenant or just a different owner, occu- pied homes undergo traditional wear
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