House flipping does take some money to be able to do effectively.
With the average kitchen remodel weighing in around $20,000, new bathrooms several thousand dollars and the properties themselves costing over $100,000 in many cases, things can get expensive fast.
Although you can certainly flip houses with no money using the tactics we’ve taught here many times on BiggerPockets, for those smaller expenses to make sure your flip is a successful one, there are a number of things you can buy for believe it or not, UNDER $20.
And each one can help you make your house flip a successful one, whether you’re acquiring, renovating or selling. Here’s the top 10 list below.
10 Cheap Items to Help Your Next Flip Be a Big Success
1. Bandit Signs – $2/Sign
Bandit signs are a tried and true way to find potential sellers to keep your house flip pipeline full. Although I now have my acquisition manager do this for us, the return on what we pay for our bandit signs has paid us many times over in the profits they ultimately generate.
You’ve probably seen these kinds of signs around your town. You’ll usually find them hanging from telephone poles, street signs or plunked into the ground in some cases.
The idea is to communicate your message to potential sellers in the area. You might have a sign that says “We Buy All Properties – Any Condition”. And to make them worth your while, all you need is one deal to help pay for the signs many times over. At only $2/each (and in some cases, even less), they are the best deal going.
Keep in mind that if you decide to use them, make sure you find out the legalities of using them in the town you post them in. Sometimes, the town allows you to …read more