3 Lessons We’ve Learned Flipping Seattle Houses
For three generations, Beachworks has been investing in real estate to create futures for families in the Pacific Northwest. Throughout our journey, we’ve flipped homes all over the greater Seattle area and have learned a two or thing about the process. Anyone who’s attempted a renovation, successfully flipped a home, or even simply repainted a room knows how much work it takes to bring new life to an old home. Even simple projects can quickly turn to money-draining pits.
At the end of the day, flipping Seattle homes is a magical experience to us. We’re able to put our skills and professions to work to bring new life to neighborhoods, make a home livable again, and bring a smile to people’s faces. Even if the journey hasn’t always been easy, we’ve learned a lot about flipping Seattle houses along the way.
Looking for Real Estate Investment Opportunities?
Join our buyer’s list to get exclusive access to off-market properties in the Greater Seattle area.
1. Just a Little Curb Appeal Can Revitalize a Neighborhood
Driving down almost any residential street in Seattle is a great way to fall in love with the city. In the best neighborhoods, you’ll spot home after home with tastefully colorful paint jobs, bright doors, and landscaping that especially shines during the spring and summer months. It’s easy to be cheered up by any of these neighborhoods, especially when Little Free Libraries dot the spaces in between homes.
However, as soon as you stumble upon a neglected home that hasn’t been touched up in a few years (or decades), your first instinct may be to look away. In many cases, overgrown shrubbery blocks the wood-paneled home with chipped paint and a well-worn roof.
There’s a certain kind of magic that takes place when we’re able to get in and touch up these homes. When we’re finished, the neighborhood seems to take on a whole new light. The home’s historic charm is restored and the neighbors can be proud of where they live once again.
Boosting curb appeal can be as easy as giving the home a new paint job, clearing overgrown landscaping, and sprucing up the mailbox, gutters, and outdoor lighting. In some cases, it’s a bit more work than that – and a neglected exterior is often a sign of an even more neglected interior – but even just a little work can go a long way.
2. If It’s Bad on the Outside, It’s Probably Worse on the Inside
Anyone who’s ever worked on houses is probably familiar with the phrase “money pit.” It’s often used to describe a home that somebody has purchased to flip, but once work begins, the problems run much deeper than they originally appear. In fact, this is what home renovation shows rely on to keep their viewers watching past the commercials.
We’ve seen that if things are run-down and neglected on the outside, it’s probably worse on the inside. That’s because it’s difficult to know exactly what you’re getting into until you begin tearing things apart and taking a closer look. It’s risky business flipping homes for exactly that reason. In Seattle, you could see everything from outdated wiring to excessive mold. In some extreme cases, entire foundations may need to be re-done in order to ensure the safety of the home.
Fortunately, we have years of experience under our belt and always have a contingency plan in place for unexpected costs and repairs. In some cases, these costs and repairs may go beyond what we were prepared for, but it’s always worth it at the end of the day when the home is ready for its new owners.
3. Not Every Flip Will Be a Huge Success
When flipping Seattle houses, sometimes we’ll get those few big hits. We’ve purchased the property at just the right price to satisfy both our bottom line and the seller’s best interests, the renovation goes off without too many hitches, and we can turn it around in time to sell it to a family who’s ready to start the next chapter of their life.
Like anything else, nothing ever goes 100% according to plan every time. Sometimes, we’ll run through our contingency plans and will have to dip deeper into our budget than we originally prepared. Other times, it’s difficult to find properties because of the state of Seattle’s housing market and rising competition.
No matter what happens, however, we’re always proud to produce a product that revitalizes the neighborhood around it and provide a sturdy roof over someone’s head. Because we’re born and raised in the Seattle area, we believe that – even if we don’t make as much profit as we’d like – every flip is worth it as long as we’re able to contribute to our neighborhoods and provide a livable home for new homeowners.
Ready to Flip Your Home?
If you’re thinking about selling your home, you might be considering all the work it takes to get it market-ready. Depending on the condition of your home, this might be more work than you can bear. Fortunately, you can sell it as is and give all the work to a local, family-oriented team of professionals who can take care of it for you. Get started by requesting an offer today!
Beachworks LLC local, family-owned company in north Seattle committed to improving the value of our community. For those who need to sell their homes quickly and privately, we we provide an all cash offer and close on your timeline.