Repairing and Renovating a Quick-Flip Opportunity
Part of the Flipping Houses For Dummies Cheat Sheet
As a first-time home flipper, look for quick-flip opportunities — cosmetically challenged houses that you can beautify and sell without a huge investment of time, effort, or repair and renovation costs. This strategy enables you to focus on the overall process and on finding good opportunities. When you buy a quick flip opportunity, your goal is to make the property impeccably clean and well-maintained, something all home buyers want.
Use the following checklists to ensure that you focus on the most important and most profitable repairs for your quick flip.
Exterior (curb appeal)
Trim tree limbs and shrubs.
Mow and edge the lawn.
Replace dead or dying shrubs and plant flowers, especially near the front.
Apply a fresh layer of mulch.
Remove clutter and eyesores.
Fill driveway and walkway cracks.
Power-wash the siding, tuck-point a brick home, or paint a wood-sided home.
Repair or replace windows and screens.
Add or replace shutters.
Paint the front door and trim.
Paint the garage to match the house.
Replace the gutters. Seamless gutters are best. Install splash blocks or gutter extensions.
Replace the front and rear storm doors.
Replace exterior light fixtures.
Replace the mailbox choosing a color and design that fits in with the neighborhood.
Give the place a good scrubbing.
Wash the windows.
Install new window blinds.
Clean or replace any drapes or curtains.
Remove hooks and nails from all walls and patch the holes.
Apply a fresh coat of paint to all rooms, using flat, neutral colors for the walls and semi-gloss white for the trim.
Check and repair all doors and doorknobs. Doors should open and close effortlessly.
Install new light switches and outlet cover plates.
Install new smoke detectors.
Replace the thermostat and doorbell.
Re-carpet, refinish, or replace damaged or worn flooring.
Swap out the register covers.
Replace exhaust fan covers and maybe the fans.
Install a new stainless steel sink.
Install a new faucet.
If the countertop looks old or crusty, have it replaced.
Refinish the cabinets, if needed, and add new hardware — knobs and handles.
Apply new shelf liner to all cabinet shelves and drawers.
Install a new vanity.
Install all new fixtures.
Replace the toilet seat.
Replace old towel hangers.
Replace shower curtains or install glass shower doors.
Apply a fresh bead of calk around the edges and base of the tub or shower, around the sink, and around the base of the toilet.
Scrub the grout between any tiles thoroughly.
Replace light fixtures, cover plates, and register covers.
Install closet organizers, if needed.
Sweep the cobwebs out of the rafters.
Dust off any ductwork, pipes, or wiring.
Tack up any dangling cables.
Seal all cracks in the walls.
Whitewash concrete or cement-block walls with a sealing paint.
Paint the floor using gray enamel paint.
Install new glass block windows, if necessary.
Buy a roll of insulation and stuff pieces of it between the joists where the joists meet the outside wall.
Change the furnace filters.
Clean or replace the hot water tank.
Repair any leaky faucets.
Unclog any plugged or slow drains.