Common Flipping Mistakes and tips

Dated: March 4 2023

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At 53 years old I don't claim to be an expert in house flipping but what I have learned through my experience is that carrying costs are the one factor that can make or break a successful flip. They are  easy  to overlook because you don't actually have anything tangible at the end of the project when it comes to interest on loans or mortgages, insurance costs, taxes and utilities. I am always on the hunt for the elusive diamond in the rough for my flipping clients and can offer some sensible insight into the process and valuations required to make educated business decisions. A big part of successful flipping comes down to where to spend the money  to achieve maximum return on your investment. Having flipped for a few years and renovated for the last decade, I have learned that having a good design plan is key. Obviously kitchens and baths offer the best return, but a poorly layed out kitchen that cost you $20,000 in nice cabinetry may not net the full investment if you place the sink so you stare at a blank wall. Or if you put in a gas  range and forget to have an exterior vented hood fan installed (guaranteed fail on a  home inspection!). Most decisions are common sense, but a wisely thought out plan will pay off in the long run.  2023 has started with prices holding quite well and homes selling anywhere from 93-98% of list. My doors always open. Let's hook up for a coffee and discuss investment opportunities. I'd love to be put to work for you!

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Trevor Bearchell

An almost lifetime resident of Wetaskiwin, Alberta, Trevor has worn a few different hats in his working life. The bulk of it spent as co-owner with his wife of 27 years at the Terracotta Cafe and Bear....

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