If you have an old property in Louisville, Kentucky that you want to make money out of, one of the best ways to do this is through flipping it. However, house flipping in Louisville is nothing like what they show you on TV. House flipping involves a lot of hard work, smart investments, and a whole lot of luck.

When done right, house flipping can provide you with as much as 40% return on investment! Still not convinced? Here are some more reasons why you should strongly consider flipping your property in Louisville.

Why Should You Invest In House Flipping In Louisville?

You should invest in house flipping in Louisville because the market is hotter than the state average. Right now, the median sale price for single family homes in the market in Louisville is $235,000. The average days on the market for these homes are 16. Additionally, according to real estate experts, the trend of house sales in Louisville will continue upwards in the foreseeable future.

Convinced and ready to start your own flip? We’re here to help. Here are some house renovation tips in Louisville you should check out before starting your own flip.

House Renovation Tips In Louisville

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Gather A Team Of Experts

As experts in the house flipping industry, we can tell you for sure that you can’t flip a house on your own. Build a team of experts that you can rely on to help take care of every minute detail of your flip. For instance, if you’re not an expert in interior design, you should probably seek the help of an interior designer. Remember, you’ll probably shell out more money if you’ve made mistakes than just hiring professionals in the first place.

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Know Your Buyer

When flipping a home, keep your buyer in mind. You should build a profile of your potential buyer since you are renovating your property with the hopes of them purchasing it. Make your renovation decisions based on what you think your buyer would like to see and have in their home.

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Know The 70% Rule

The 70% rule states that you should only pay 70% or less of the after repair value (ARV) of your home, less the costs of renovations and repairs. This formula can help reduce risk on investment. You can determine what your ARV will be by looking up similar properties in good to mint condition and using the median listing price in your city as a guide.

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Look At Listing Properties Above Fair Market Value

Checking out listing properties above fair market value lets you know what upgrades buyers are usually looking for. This will give you an idea of what updates to make. For instance, are homes with two bathrooms selling faster than homes with just one? That should give you an idea of the direction to take your house flipping in.

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Move Quickly

When flipping your property, you need to move fast as time is your greatest enemy. With each day spent doing renovations, you’re essentially losing money. In order to see the best profits on your investment, the best course of action is to sell it quickly. One way to do it is to sell it to cash home buyers in Louisville, Kentucky.

READY TO SELL? BOOK A CALL WITH US TODAY

RYLO Homes is a cash homebuyer in Louisville, Kentucky. We are a real estate solutions company that specializes in solving your real estate problems for you. We will be your personal guide during your home selling process.

We buy houses in Louisville, KY in any condition. No realtors, no fees, no commissions, just a fast, cash transaction which we can close in a matter of days! Just flipped your property? Great! We’ll buy it at fair market value. When you choose to sell to us, you don’t have to wait weeks and months just to get good offers. We’re direct buyers and we pay in cash to arrange a quick close.

Our goal at RYLO Homes is to improve the overall quality of housing for the residents at Louisville, KY. We buy houses in just about any condition and situation, including foreclosure, late mortgage payments, or fair market value. To find out more about our home purchasing process, give us a call at (502) 317-8553 today.