You’ve probably heard that real estate heats up in the summertime. More homes are available, and more people are looking to buy. Buying and selling in the summer months of June, July, and August might be a good strategy for some people. But as a house flipper, you need to think differently. You might be surprised to learn that the best months of the year to fix and flip is during Winter.
Ready by Peak Selling Season
Rehab projects you begin in the winter should be wrapped up by May or June. This will land you with a newly renovated home to put on the market just in time for peak selling season. Buy low in the off season, get to work on rehabs, and sell your property at a premium price in the summer.
Find Off-Season Bargains
Sellers know it’s harder to find a buyer in the middle of the winter, but sometimes they can’t afford to wait until the market picks up to list the house. A seller may urgently need to sell the property for any number of reasons.
Sellers can’t help these situations, which can happen any time of year. In a slow winter market, they may lower their list price or may be more open to a lower bid. Prices are at their lowest this time of year, making it a great opportunity for home flippers to get a great deal that can translate to a big profit.
You’ll find that many of your fellow house flippers — your competition — will take the opportunity to slack off. Some will take time off because they can afford to, and others will ease off the gas because they don’t know any better.
But you are not that person. With buyers less interested and real estate investors relaxing, it’s time for you to step it up and grab the best deals that would normally go to more experienced flippers. Thinner competition during the winter months can be just what you need to get your business going strong.
Snag Off-Market Deals
Expert house flippers know that the best deals aren’t always found on MLS. A great find is more often tracked down before the property is even posted or listed.
Great deals happen year-round or at ideal times — this alone is reason to keep marketing, hunting, and flipping year round. If you slack off on your business during the off-season, you may miss out on some great off-market finds.
If you are serious about building a flipping business, you can’t afford to not give it your all, no matter what month it is. Going strong throughout the winter will give you an advantage. Looking for even more help in growing your business? Get prequalified for a fix & flip loan from First Equity today.