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real estate investors

Flipping Houses Successfully: The Importance of Finishing Touches

06/23/23  |  Theresa Magner

Mastering the Art of House Flipping: Why Finishing Work Matters

When it comes to flipping houses, we often focus on large-scale projects like full kitchen or bathroom remodels. The exhilarating process of transforming an old, run-down property into an aesthetically pleasing home is indeed a gratifying endeavor. Yet, it's not just about the dramatic before-and-after shots. The devil, as they say, is in the details, and it's the finishing touches that often have the most significant impact on the value of your flipped property.

The Importance of Finishing Work:

Contractors sometimes cut corners to save time or money, a seemingly innocent decision that can have devastating consequences. Buyers, whether first-time or seasoned, have a keen eye for detail. They rarely miss noticing a poor paint job, bad caulking, or a piece of trim that's been cut to accommodate an electrical socket. These minor issues might not seem consequential at first glance, but they can negatively impact a buyer's perception and lead them to question the quality of the overall work.

Finding Good Labor:

Undeniably, finding labor skilled in finishing work can be challenging. The process of putting up drywall or painting might seem simple, but it requires a particular set of skills to accomplish seamlessly. Rushed or shoddy sheetrock and texture can turn a beautiful remodel into what looks like a hastily done patchwork job, leaving buyers skeptical about what other corners may have been cut during the renovation.

My tips for finding good contractors are searching online including facebook groups, and if possible seeing their work in person and definitely checking references. You want to make sure who you hire has a good track record of completing the jobs right, and if something is wrong that they won't blow you off after they have been paid. 

Surface vs. Substance:

There's a common phrase in the real estate industry: "You can't put lipstick on a pig." It refers to the idea of trying to make something unattractive look appealing by adding superficial or cosmetic changes. A bad flip can often resemble this, where significant issues are glossed over with quick fixes, leaving the property fundamentally flawed. Savvy buyers can easily distinguish between a quality renovation and a quick flip designed to turn a fast profit. If a buyer suspects your property is the latter, they're likely to walk away, leaving you with a costly investment that's difficult to sell. My advice: do it nice, or do it twice. 

Conclusion:

The success of your flip hinges heavily on the quality of the finishing work. A well-done flip requires a keen eye for detail, a commitment to quality, and an understanding of what home buyers value. The difference between a profitable flip and a property that lingers on the market often comes down to those seemingly small finishing touches. Never underestimate their power to enhance or detract from the appeal of your property. So, take the time to find skilled labor, invest in quality work, and remember – it's the details that sell a home.