1.- Choose the right neighborhood




When it comes to flipping and fixing homes it’s important to take into consideration the neighborhood. Think about the home you want to renovate and think about who your target market is and what they are searching for. Having your target market set for your project is key for your project for it will allow you to fulfill those needs to be able to have a successful turnover. Avoid looking for neighborhoods that are near airports or fire/police departments. Take advantage of public libraries, parks and good public schools to begin looking for neighborhoods that you can begin your project.




2.- Check the house market rates




You have found a neighborhood that has potential and that calls for your target market, now it’s time to check the house market that you have your eye one. When it comes to the home take some time to do research on how much time the house you want to flip has been in the market. The longer the house has been in the market the higher carrying costs. Less days in the market means higher ROI. Take into consideration the property tax because the carrying costs is added to the mortgage payment and the property insurance cost to the potential buyer, which makes it less appealing.




3.- Budget for the renovation




You have made all the important research. Now it’s time to sit down and budget correctly how much you want to invest in your project. Budget for what is essential and not a luxury. Look for what the neighborhood is calling for. If the neighborhood calls for a 100k home don’t make a renovation that will result with a value over that price. It’s important to take into consideration when budgeting that there are unexpected costs that might come up during the renovation and may cost you a large amount of money. These unexpected costs can be outdated plumbing or electricity or event mold costs that need to be repaired. So, prepare a budget for those unexpected costs that will allow you to stay inside your budget and that will not affect you financially overall.




4.- Find the right lender




When it comes to getting a loan for your flip and fix project consider going through a private lender rather than going to the bank. Private lenders can give you the YES you want to hear when the bank tells you NO. Capital Insiders has a borrowing criteria in which you might fit into. The minimum required credit score is of 620 and you must not have a recent bankruptcy or been in foreclosure. We help you and guide you through your process to ensure you that you are in the right path to a great ROI. 




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