How to Flip Your First House in Temecula CA

Do you want to learn how to flip your first house? There are many things about the process you might not see on HGTV. We have put together some of our favorite tips for flipping homes in Temecula and across California! For a first-time flipper, the process can become overwhelming. What might seem so easy, you will soon discover actually requires a lot of work. That said, everyone starts somewhere! Flipping homes can be a great way to earn income for the right individuals. Do your homework and find out if it’s right for you!

How to Flip Your First House in Temecula CA

Buy At The Right Price

Don’t compromise on this. Set your price before looking at any properties. No matter what you find, do not purchase beyond your means ESPECIALLY on your first flip. Do your homework before purchasing any property. Talk to other investors and learn about properties in your area. What features are highly desired by area buyers? What features, neighborhoods and property types should you avoid?

Have Funding Immediately Available

No matter the market, you will always have competition when it comes to finding houses to flip. A seller will likely give priority to someone who can close immediately as opposed to someone who will require weeks or months for the funding to go through. The majority of people interested in buying a house to flip will have the cash on hand to buy immediately. In order to remain competitive, don’t just get “pre-approved,” rather, have the money to buy available now.

What Is The Local Market Doing?

You can’t just assume that because you buy a run-down property and fix it up that a buyer will appear. You need to consider the current demand in the area. Research how long properties are staying on the market, how much they are actually selling for and what amenities are the most sought-after. The best properties are ones found in active, up and coming neighborhoods. Here you will be able to find great deals, ultimately reselling to people desiring to live in the area.

Accurately Assume Costs

There is never a true way to do this. All we can advise is to plan ahead for the unexpected and give yourself some wiggle room financially. You will almost ALWAYS find yourself needing to make an unexpected repair or pay for a miscellaneous license, fee or permit. You should also know exactly how much owning the house is costing you. The goal with any flip is to resell it as quickly as possible. The longer you hold it, the more you will have to pay for taxes, utilities, insurance, etc. What will happen if you aren’t able to sell the property within your selected timeframe? Don’t let the deal turn into a bust. Plan ahead for an extended sale date.

Don’t Spend Too Much Over-Improving

Many first time flippers make improvements as if they were planning on living in the house themselves. Don’t make the rookie mistakes of paying for expensive finishes, window treatments or tiles. Think economical when it comes to improvements. Fix and repair only what is necessary and leave the big, cosmetic improvements up to the next buyer.

But Do Add A Couple of Low-Cost, High-Impact Features

Without breaking the bank, you should aim to add a few touches to make the house more appealing for a resale. Adding crown molding in the living room, fresh paint throughout the house or new fixtures such as drawer pulls and door handles can all change a room at a low cost. Often times instead of replacing appliances to match, you can find new fronts to match other appliances in the kitchen! There are many ways to improve a home without spending a fortune!
Allen White
Allen White
2024-04-22
SDS Homes took on a tile flooring project for me could not be happier with the results. Went above and beyond all trash was cleaned up after project. Would recommend for any home project you have
Rose work
Rose work
2024-03-15
Sean / SDS and his team (shout to to Tom!) was great to work with. Prompt to give us a quote (his proposal was detailed), and prompt to start and finish. They didn’t cut corners and even suggested layouts that were better than ours. We are so in love with our bathroom and hope to work with them again with other projects in the future! Thank you Sean and Tom!
Lori Robinson
Lori Robinson
2024-01-31
We can't say enough about Sean and his team at SDS. We used them to remodel our brand new tract home: expanding a closet, painting, swapping out some doors, etc. Sean and his team gave us the utmost care. We had several contractors coming and going, and BY FAR, Sean's team was the most professional, clean, efficient and friendly. I loved working with Tom and Jorge and all the guys. They even assembled a couple of consoles I received from Wayfair for my parents. Now we are getting estimates for an epic backyard from Sean. Can't wait to get going! O! And when they said they would be here at 8am they were always right on time. Thanks guys!
Glenn Jones
Glenn Jones
2023-09-10
SDS Home’s did a complete remodel of the guest bathroom at my house. The crew that worked on my project was very professional and I’m extremely happy about the end results. I also think the project cost was very fair. I’m very happy that I hired SDS Home’s for this project.
JJ Baddon
JJ Baddon
2023-08-27
I am very impressed with this company. When I called, I actually got to speak to the owner directly and he answered his phone. He was very informative about permitting, plans and city ordinances. He is always willing to go above and beyond. My colleagues have used him and WOW! He is really good! You will not be disappointed! Give him a call!
Gio Leonardo
Gio Leonardo
2023-08-26
I have collaborated with Sean on a few projects and have seen first hand the level of quality SDS Homes provides. I highly recommend his services to anyone looking for top notch professional builder.
ERIN QUINN
ERIN QUINN
2023-08-04
I love SDS home construction. They always answer the phone. The owner Sean Coy is so amazing at what he does. I have a couple projects we’re working together. Sean is the real deal! My go to for sure!! Give them a call
Emilio
Emilio
2023-08-02
The best work in the valley, hands down! Would 100000% recommend
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