Flipping Homes to Pay for College: Here’s How to Go About It

Article Courtesy of Claire Wentz from https://caringfromafar.com

Going back to school for upskilling is always a great option, especially in today’s job market which is more competitive than ever before. However, financing your education can be difficult due to high tuition costs and subsequent college-based expenses. One creative solution to help fund your education is flipping houses. Today, REALTOR® Jenny Hershberger Bushman will explore a host of helpful steps to help you flip homes for a profit and put yourself through college.

Finding the Right Profitable Property

While numerous factors have an impact on profitability, location should not be overlooked. Search for desirable neighborhoods that have a growing real estate market and a track record of attracting buyers. Additionally, consider the following factors: proximity to school, availability of public transport and neighborhood amenities.

To turn a profit, you’ll need to sell the home at a much higher price than you bought and renovated it for. Avoid properties that present major structural problems and issues with plumbing, and HVAC systems as these will be expensive to renovate and take longer to sell.

Given that estimating growth and prices can be hard, consider working with an experienced real estate agent who can not only help you find the right property but guide you on the best practices related to financing and manage all closing-related responsibilities.

Upgrading the Kitchen Before Selling

Your home’s kitchen will be one of the key spaces that will make or break deals. Hence, before putting the property on the market, consider doing some smart and profitable upgrades to the space.

According to Realtor.com, some kitchen upgrades can fetch an ROI as high as 70%. Here are some of the best upgrades to consider:

• Install a range hood that improves indoor air quality by removing smoke, odors, and grease from the home.

• Consider upgrading old kitchen appliances such as the dishwasher, toaster, microwave, etc. Adding new appliances is one of the best ways to boost your property value, according to Military Home Search.

• If your kitchen lacks storage space, adding cabinets is the best option for wooing buyers and making the space functional.

Cleaning Your Property Before Promoting

Once you’ve completed the necessary upgrades, it’s time to turn your focus toward marketing the property to buyers. But, before uploading images and videos of the home online, spend ample time cleaning the home to make it look spotless and inviting.

While you can hire cleaners, this will only increase costs further. The best cost-effective option is to use a corded stick vacuum. This lightweight and versatile tool will cover most of your cleaning needs, allowing you to effortlessly clean hard-to-reach areas and clean the home of any debris, dust, and other unwanted items.

Marketing Your Property

When it comes to marketing your property to buyers, it’s best to utilize a variety of promotional mediums such as:

• Online Listings: Create profiles on all well-known real estate websites and upload high-definition photos and videos. This will create a strong first impression with buyers and generate interest.

• Social Media Promotion: Promote your listing on Facebook, Instagram, and other social media platforms This will help you reach a large audience and receive a higher number of bids.

• For Sale Sign: This traditional method is a great way to promote word-of-mouth marketing regarding your property in and around the neighborhood.

Consider Going Back to School

Another way to help pay for college while also giving yourself a technological edge in today’s ultra-competitive job market is by going back to school for a degree in information technology. If you’re open to online learning platforms, this page deserves a look. By taking advantage of the flexibility afforded by this option, you can study at your own pace without having to take time away from your other obligations. This will also open lots of doors for your future, since IT is always in high demand.

Creating Business Cards

When interacting with buyers, every small detail counts, and making a good impression is key to having good negotiations and a smooth closing. Business cards provide a tangible and professional way to leave a lasting impression and make it simple for interested buyers to contact you.

Rather than using generic designs, choose to personalize your card with colors and fonts that best represent you. There are plenty of online tools to help you create these cards, and you can use this guide to learn how to make a business card.

When done right, flipping houses can be a great way to fund your education. In addition to finding the right property, remember to market it well through various mediums, keep it clean before showings, and make a lasting impression on buyers with memorable business cards. You should also consider giving yourself a technological edge by pursuing an IT degree.

Whether you’re looking to buy or sell, realtor Jenny Hershberger Bushman is here to help! Reach out today to get started.