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Beginner's Real Estate Investing Guide: The Art of
Flipping Houses After Fixing
By Jeanette Joy Fisher
In previous articles, we've
talked about how to find a doghouse, how to assess how
much work a house will need in order to bring it up to
the standards of the neighborhood, and how to increase
your chances of getting your offers accepted. Now it's
time to talk about the final stage of the real estate
investment process, which flipping the property once the
repairs have been done.
My husband and I have been at this for many years, and
we've had great success in selling our properties by
appealing to the emotional needs of potential buyers. To
do that most effectively, we turn to the twin sciences
of Design Psychology and Marketing Psychology.
Both of those scientific concepts go far beyond the
simple idea of increasing the curb appeal of an
investment property. For example, on both the outside
and inside of our houses, we target both our potential
buyers' income level and the selling season. After a
great deal of experience in flipping houses over the
years, we've discovered that buyers of higher-prices
homes tend to prefer more complex colors.
If we're going to be marketing a home during the heat of
late spring and summer, we'll employ cooler colors in
our painting scheme. On the other hand, we use warmer
colors when the temperature begins to dip during fall
and winter. Our aim is to subtly make our potential
buyers feel as if they've just come upon an inviting
oasis or a haven from the cold.
Since making our homes welcoming and inviting is our top
priority, we always paint the front door of our houses a
happy color. The idea is to make buyers smile and get a
warm feeling as they walk up to the door. We also invite
them to enter the house by placing a number of potted
plants on the porch. The touch of greenery and color
that plants and flowers provide can be a powerful
selling tool, even though most people won't realize the
reason they're getting a warm, positive feeling from our
houses as they approach the front door.
Once the potential buyers are inside the house, we
employ subtle but powerful home staging strategies to
give the impression that they've just walked into their
dream home. We don't use a lot of furniture, because we
want buyers to be able to envision their own precious
possessions in the home, but we do add a few accessories
throughout the house, just enough to suggest a hint of
pleasant activities. The idea is to make potential
buyers feel that if they purchase our home, it will
provide them an opportunity to enjoy a happy new
lifestyle.
Over the years, my husband and I have bought and sold
dozens of distressed properties, and I can assure you
that if you use caution and common sense, as well as our
proven Design Psychology strategies, you can also become
a wealthy real estate investor!
Copyright © 2006 Jeanette J. Fisher
This is the third in a series of
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