6 Ways to Save on Your Fix & Flip

save on your fix & flip

Ask For Help

There is nothing more expensive than doing something, than having to do something twice. Mistakes are costly. Save money and time by seeking out the help you need ahead of time. Need advice? Need coaching from the fix and flip experts? Fixters provides you with coaching in construction, real estate, and financing. See more advice and tips here on the Front Porch or at Fixters.com.

Plan, Plan, Plan

Do not swing a hammer until you’ve fully planned out the entirety of the renovation. With QuickScope and ScopeBuilder plan in full detail, room by room, every time. Unexpected costs will more than likely arise when flipping old run down homes. Planning and keeping all other costs at bay will assist in the success of your fix and flip in the end.

It’s Like Free Money

Materials add up quick. With a Fixters membership, you’ll receive 10 percent off your Home Depot material packages. That alone pays for a year of a Fixters membership. Saving on materials leaves breathing room in the budget for those hidden expenses, hello asbestos.

Don’t Reinvent the Wheel

If it works once, it’ll probably work twice. Keep costs in control and expected by repeating the same finishes on each property you flip. Of course, there are exceptions. But if you’re flipping the same 3-bed 2-bath home in suburbia time after time, a repeated process can save you time and money. With Fixters Software, you can save specific room specs and materials to repeat in future properties.

The Obvious

Track your spending, have a budget, and do not go over budget. Fixters Software budget tracker shows you exactly what you’ve spent, and how much you have left. Materials, labor, HOA fees, utilities etc. are all costs that need to be tracked and worked into the budget.

Hand-Me-Downs

Not every house requires a full gut job. To save money, recognize what features of the home can be salvaged before demo day. Refinishing hardwood floors and painting cabinets can save thousands of dollars. Maybe even auction off that mid-century light fixture to make a few extra bucks.

Fixing and flipping houses is a numbers game. You don’t win if you spend more than your return on investment. Keep track of it all by staying organized, on budget, and on time with Fixters!

 

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