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How to Flip a House in Calgary

flipthishouse_120Guide to flipping a house in Calgary

Find out what tools you'll need for a successful house flip. Go through the basics starting with finding the right house, budget, scheduling and financing.

1. How to Flip a House in Calgary

In this post Rachel introduces the series and describes the basic tools needed to get the job done.

2. Finding the Right House to Flip

How to find the right house for a successful flip. Tips of the trade, what to look for, how to take the wrong house and turn it into the perfect house.

3. Assessing Your Budget Before Flipping

You can't flip a house without the cash, but you need less cash than you probably think. Learn what to budget for down payment, mortgage payments and repairs.

4. Determining Your Flip Style

Find out the three types of flips and which one works best for your style, budget, time and availability and skill set.

5. Scheduling Your Flip

Flipping a house is not about attachment. You get'r done and sell - the longer you hang onto the property, the more money it costs and that eats away at your profits. This series is all about effectively scheduling your house flip.

6. Financing Your Calgary Fix and Flip

Kathy Fleshman, RBC Mobile Mortgage Specialist offers her professional input on financing a flip and the types of options available to you

Found 6 blog entries about How to Flip a House in Calgary.

flipthishouse_120

I’m returning to my fix and flip series. (previous blogs on the topic can be found here, here, here, here and here) I have a few clients coming through the pipes looking for exactly this type of product, and I wanted to flesh out a bit more of what to look for when you’re out to do a fix and flip in Calgary.

A REALTOR

Yah, I know. I hate to be so cliché, but it’s true. A REALTOR is a resource that is free to you when you are buying. We know the ropes, and we know what we’re looking for in a home to flip in Calgary. We can translate your hopes, dreams, and desires into a physical reality. The bottom line is that you’re going to get deluged in information on the internet, and a lot of it is just cr@p. Your agent sorts through all of the

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flipthishouse_120When you’re doing a flip where you do not live in the property while you renovate, you’re always working against a clock. Every day that you hold the property costs money and eats into your profits. For that reason, it is of vital importance that you create a schedule and follow it closely. Of course we can all make a schedule based on hopes and dreams. It would be nice to have cabinets all in and installed in one day, but realistically, that is very unlikely to be the case. Check with trades, and professionals along the way before you start your flip to make sure your estimates on time are reasonable. I usually tell people to go ahead and add 5% to their best estimate of how long they think it will take from possession to resale, just to make sure they

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flipthishouse_120Welcome back to our fourth installment of the series I’ve been working on which explores how to do a Calgary real estate flip. As I see it there are three basic kinds of flips which work in this market. Perhaps there are a few different variations of these types, but these are the three main ones. Read through the basic flip stratagies and determine which one works best for your budget, time and availability, and skill set

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Buy Low, Gut, Sell High

Often times real estate does not sell because it is out of touch with its competition. For example, you may have a lonely 1200 square foot house in a high-end neighbourhood of 1900 square foot houses, and buyers just aren’t interested in the tiny house. Perhaps you have a two-bedroom house in a

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flipthishouse_120One of the first things you’re going to need is a budget. You need less cash to flip a property than you probably think, especially when you consider that it is possible to partner up with an investor. When you flip a house, you want your expenses (the cost of the house, mortgage payments [if any], taxes [if any], repairs, labour, and materials) to be less than 80% of the total sale price of the home when it hits the market as your new pretty confection.  Which means you’ll need a solid market analysis from a real estate agent on both the current value of the home, and the expected sale price once renos are complete. You should have an idea of your total budget of the homes you want to look at or buy, before you approach your mortgage broker asking for a

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flipthishouse_120Today we are continuing our look at how to flip a house in Calgary. I’ve invited Kathy Fleshman, RBC Mobile Mortgage Specialist, to write a guest blog for the vanderveenteam.com. Below you will find some of her solutions for the first steps in looking at financing your flip in Calgary. Of course every situation is always different, and the best first step is to phone your mortgage broker so you can create your own financing solution which is tailored to your individual needs. For mortgage advice on any home purchase, Kathy Fleshman is always a great call to make! And now, here's Kathy!

When looking to finance the purchase of a home you intend to flip, there will be some differences in the mortgage financing you apply for.  When a property is not going

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flipthishouse_120Lately, I’ve had a lot of people asking me about flips. The “hows”, the “whens”, and the “how much.” One of the things that I love about my blog is that I end up writing out very long explanations for very small topics so that when people ask me a question, I can point them to my very own personalized answer. So I’m going to start a series on flipping houses in Calgary, and what that looks like from start to finish. I would absolutely love to hear from you if you have any questions along this vein so that I can turn the answers into a blog. So for the next little while, we’re going to look at how to flip a house in Calgary!

If you’re reading this blog today, you are probably moderately interested in doing a flip in Calgary and perhaps wondering if you

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