1. Do Learn the Art of Leverage

Please don’t be this guy; the one that thinks he can do all the trim work, the landscaping, the listings, the cleaning…get our point? Don’t overextend yourself. Be sure to keep your ambitions in check and don’t bite off more than you can chew. One of our main lessons in the Flipping Houses University is how to build your investing team and choose the right dependable people to help you accomplish your investing goals. Remember this word. LEVERAGE.

2. Don’t Be Too Big for Your Britches

Remember your mom telling you that? Don’t try to act like you know everything when in fact you are just starting out your flipping career. In reality, whether you are just starting out or have been investing for years… be yourself and be real. You will gain many more meaningful relationships that way–ones that you can use to your benefit. See LEVERAGE. Admit to what you know and what you don’t know. Don’t dismiss the advice of those who have been investing for years. They’ve seen both the ups and the downs in the market, and really know what they are talking about!

3. Do Use a Property Repair Estimate Sheet

One of the more important documents you need is Property Repair Estimate Sheet.   This document should include a list of all of the major items (roof, hvac, kitchen, paint, flooring…) as well as cost estimates for each item.  You should complete one of these during your initial visit of every house you look at.  The 2 main benefits of the form are 1) to save you time and 2) to give you confidence to proceed with the deal.

4. Do Know “Why”
Always know your why. Keep the main thing the main thing. Don’t get side tracked in all the hype. Keep in mind the reason you chose investing in real estate as your alternate income revenue. Maybe you want to be able to retire early. Or you are trying to pay off your house, or save for your kids’ futures. We provide these blogs so that what is important to you stays important. For example like spending time with your family. Don’t ignore your family while trying to build your business because then you would be sacrificing the very goal you are  trying to reach.

To learn more about Part-Time REI visit us at http://part-timerei.com/

Or connect with us  

First the basics. We want to of course look at interior and exterior doors. There are a wide range of types, materials, and styles. Understanding each type and where it will work the best will assist you in choosing  the ideal doors for your flip.

Interior doors are typically lighter and thinner than exterior doors because they don’t have to provide security or resist weather. There are several types of interior doors available. Some of these include hollow-core doors with wood veneer or hardboard faces, embossed panel doors to look like panel, louvered doors– used for closets or laundry areas, but most types can be installed as hinged doors, pocket doors, bypass sliding doors, or bi-fold doors.

Detail of front red door.

Probably NOT the best color for your flip’s front door.

An exterior door is usually designed to make a statement. Take for example this RED front door we used to finish out “That 70’s Home.” Quite an eye catcher to the passer-by.

Since it is the first impression a lot of folks will have on your flip. Of course it is the age old conundrum of form vs fashion as the primary function of an exterior door is security and energy efficiency. Types of exterior doors include front entry doors and back doors, which may be paneled, flush, or have glass inserts and/or designs in them.  Materials include: wood, fiberglass, or steel. Wood can be very versatile, but pricey. You will need to decide if this will match the look of the rest of the neighborhood

Solid-core wood-veneer flush doors are going to cost you less. Fiberglass is also a good pick since it is durable and flexible enough to be installed in any climate. It will not warp or rot and is low-maintenance. Steel is practical and long-lasting. All of these can normally be painted too.

Here’s a look at the most common door types and their main function.

Door Types

Single-acting doors are hinged on one side and open in one direction. These are the most common and  standard doors you find on the interior of houses.

Double-acting doors open in either direction. Double-acting doors work well between a kitchen and a dining room, but can pose a hazard if two people try to go though at the same time.

Closet bi-fold doors

Bi-fold doors have two panels that fold to one side. They are often used on closets or pantries.

Bypass doors have panels that slide past each other. They are often used on closets where there is not enough space for a swinging door. Only one side of the closet can be open at a time.

Exterior sliding doors usually have one fixed panel (glass) and one panel that slides normally used on a baloney, patio, or deck.

French doors have rectangular glass panes, or lights, from top to bottom. They are often hung in pairs, opening from the sides, as exterior doors to a garden, patio, or deck.

Bathroom pocket door

Pocket doors actually slide into the wall. They are perfect for a space where there isn’t room for a door to swing open like a pantry or an enclosed toilet in a master bath.

To learn more about Part-Time REI visit us at http://part-timerei.com/

Or connect with us