Team Thayer Property Servicing

Flipping houses looks glamorous and easy on TV. Many people are enticed to get into the business, lured by the promise of easy money and high volume. But what is really involved in flipping houses profitably? We took a look. What do you need to get started? You need an excellent credit score. You need cash, because you are usually investing in a high-risk property and need a bigger down payment, or you are buying outright, free and clear, at auction. Another option would be a  203(k) loan  but that’s a whole other article. You need to know the real estate market. Most importantly, you need to know houses. Just like a good car mechanic looking to spend the least on a fixer upper, you need to know just how deep the money pit goes. What you should look for in a house to flip: Location . Find a  home  in a desirable neighborhood, or in a city where people want to live. Sound Condition . You don’t want to start rebuilding it from scratch. Look for home t...

Basics of Home Inspections Home inspections are a very important part of both the home buying and selling process. It is always a good idea to hire a Home Inspector to properly inspect a house. Home Inspectors are professionals who are trained to have a keen eye for catching things that a normal homeowner (or potential homebuyer) may not notice. Here are some of the things that a professional inspector might check for: Asbestos and lead paint Hidden damage (termites, support structure, etc.) Foundation damage Mold Roofing issues Chimney hazards Pests (rodents and/or insects) Radon, carbon monoxide, and/or other hazardous gasses or elements Efficiency of appliances Although a home inspection costs extra money and may not be the most exhilarating experience, it is necessary when buying a home. It is in your best interest (and for your own safety) to have a professional look over the home before you purchase it. Even if a house looks to be move-in ready, there cou...