To consistentlyÂ make money flipping houses, IÂ highly recommend paying extra attention to the details.
I have published many house flipping tips posts about the impactÂ that brush nickel fixtures, good lighting and open space can have on a house flipping business.Â These small, yet incredibly important details always add up to become a major component of the house flipping formula.
By paying close attention to theÂ small details of a house flip, you will help set yourself up for long term house flipping business success.
House Flipping Business Tips |Â Why ClosetsÂ are Super Important
Closets are small items with regards to cost, but they are super important when it comes to selling aÂ flipped house.Â For someÂ uknown reason many people have an obsession of sorts with closets.Â I guess they just love having a place to store their stuff!
The good thing about creating awesome closets is that doing so is not expensive.Â Often times creating a closet is as simple as finding some "dead space" and then installing a light and some wire shelving.
Below isÂ my "closet checklist" that I take with me, in my mind, to each new house flipping project.Â If you find yourself "stuck" with regards to closets, give this checklist a quick readÂ to helpÂ reassess your house flipping businessÂ situation.
House Flipping Tips | The Closet Checklist
- Is the laundry closet on the first floor?
I have learned through experience that people prefer to not do their laundry in the basement.Â Believe it or not this simple understanding has really helped me consistently make money flipping houses.
By all means try to place the washer and dryer on the first or at worst - second floor.Â Avoid the basement at all costs.
With regards to the laundry closet itself, be sure to install some wire shelving at a convenient height above the washer and dryer.Â The future homeowner will appreciate having a convenient place to set towels and clothes.
- Maximize closet space
Having a large wide open closet is wonderful.Â The only problem is that there is nowhere for the future homeowner to place shoes, clothing and other miscellaneous items.
If you have an empty space, maximize the space by installing some shelving.Â Potential buyers will subconsciously imagine their personal belongings sitting nicely on the shelves inside the closet.
- Place closets in convenient areas
Closets become extra useful when they are located in high trafficked areas.
For your house flipping business plan, consider installing a closet near the entrance way.Â This makesÂ it conveneint for the homeowner and his/her guests to stow a coat, boots and other winter garments.Â Also be sure to have a closet in or near the bathroom for towels and toiletries.
Most imporantly, be sure to have a closet in each bedroom.Â This may seem like a no-brainer, but I have come across many homes in my day that lacked a closet in each bedroom.
Make Money Flipping Houses by Investing in "Small" Details
Closet work typically does not cost a bunch of money.Â However I do admit that it is another expense, which meansÂ investing more money than you may want to into the rehab process.
However, like many "small detail" items, closets can have a major positive impact onÂ a house flipping business.
On the other hand, poor closets or aÂ lack of closets, can have an enormously detrimental impact on a home.Â You may not notice the effect that well done closets have on a potential home buyer, however you will most certainly feel the impact that poor closets, or a lack of closetsÂ will create.
My advice to you is to not skimp on closets.Â Incorporate useful and convenient closets into your house flipping business plan.
Always paying close attention to the small details is a sure-fire tactic to increasing value and shortening the selling cycle.
Check out the below video forÂ moreÂ insight into how I incorporated the above mentioned house flipping tips into one of my recent house flipping projects in Scituate, Massachusetts - which actually sold after just 24 hours on the market!
See you at the top!