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5 tips to help you make money 'Flipping' houses

1. Focus on a specific market and then study it. You will learn what makes a home sell and what price they sell for in that area. Buy the worst home in good neighborhoods.
2. Do not overpay for somebody else’s problems.
3. Buy only cosmetic problems. Focus on homes that need painted, landscaped, smell bad, have holes in their walls, stains on their carpets, etc. Remember, these are really easy things to fix.
4. Avoid homes that have major structural problems such as roofs needing replaced, foundation work needing done or major plumbing or electrical work needing done unless the home can be purchased at steep discounts. This kind of work always leads to unseen issues.
5. Rehab the property quickly and with professionals. It will save you money in the long run.