Rules of Renovation

House flippers are a diverse bunch. Some are natural decorators, some are handy and great at construction, and some are simply great at identifying great financial opportunities. Depending on which category you belong to, the thought of specifically decorating a home for a different season may fill you with delight or dread. Some of our renovation students really enjoy those kinds of details, and some don’t.  However, potential buyers will notice it. If they walk into your open house—or see it on social media—you should take every chance to dazzle them. Your attention to detail will signal to their brains that this is a quality property.  You can make a house look beautiful for the fall season with just three easy tips, which Rules of Renovation reviews here. Take a few minutes to learn them and apply them, and see the great results your house and bank account can get. 1. Switch to Neutral Fall Colors When you’re getting a house ready for a flip, you should decora...

Hardly anything screams “I’ve made it” like getting a pool in your backyard. It’s practically part of the American dream—nice car, big house, boat, picket fence, and a pool. But a pool is a nightmare for some buyers. They’re dangerous. They require constant maintenance. They can get damaged and need major repairs. They drink up your water supply in the summer and just sit there in the winter.  Some buyers will actually offer less because they see a pool, or they’ll want you to get rid of the pool for them. Learn how to avoid these and other problems at one of our Rules of Renovation events. You have to think about some difficult issues before you put in a pool. While putting in a pool isn’t always wrong, there are some key points to think about that could save you capital—and a lot of headaches.  1. Hazard to Children If you’re selling to a group of buyers that like to entertain, then a pool might be perfect. However, many homebuyers have children and they’ll be...

Cabinets are one of the biggest single features in a kitchen. A fridge is big, but there’s typically only one. Cabinets are everywhere and are often the first thing you see or notice. So, the color, style, and other aesthetic features of your wood cabinets are integral to the look of your kitchen.  Choosing the wrong color can make your entire kitchen renovation look and feel bad. However, a well-chosen color and color scheme can make a kitchen renovation great! So, how do you choose between colors to be sure that you get it right the first time when you’re updating the kitchen? Below are four tips to help you pick the right cabinet color in a variety of situations. 1. Start with the Overall Color Scheme The overall color scheme of the kitchen is an essential factor in choosing your cabinet color. Your choice of color palette will really limit and narrow down your possible choices for a cabinet color.  If you are picking the color scheme yourself, you could pick ...

How much of a perfectionist are you, on a scale from 1 to 10? If you’re at the higher end of the scale, you should learn how to flip a house in the simplest way as early as possible. Not every house needs to look perfect. Your houses should simply be functional, safe, and profitable. One way to overcome perfectionism is to set a goal of a certain average profit on a large number of flips. There’s an art to renovations, but you can only experience those great renovations when you practice hard-nosed business principles. Read on to learn our best strategies for how to flip a house while keeping it simple. 1. Don’t Always Plan on Extensive Remodeling Most of your properties shouldn’t require too much renovation. Don’t plan on a massive overhaul of every house flip. About 80–90% of the time, try to pick houses that require only minor repairs. Learn to be disciplined about this. Get a thorough inspection of each property, and add up the potential costs of repairs and renovations. Ma...

There’s a lot that goes into flipping a house, including time, energy, emotions, and of course, money. Although you may not be able to cut down on the first three, you can always save money with the right strategies. Learn how to save money when flipping a house with these three common mistakes to avoid. Practice the following to build the discipline and habits necessary for a profitable house flipping business. 1. Don’t Get Too Emotionally Invested in Any Single Property Your business success as a house flipper will come from the average profit you can make from a multitude of properties, not from any one property. It’s vital to treat each property objectively, judging it on its numbers, potential profit, market comps, and so on. Try not to get attached to any one property. We’ve seen too many investors spend far too much time or take extra risks on a property just because they feel passionate about it. Remind yourself that it’s important to sell each property quickly and m...

“How do I pick out the best colors of wall paint for my house flip?” That's a question we hear a lot in our renovation workshops. It's an important question. People are going to see the walls as soon as they walk in during an open house and whenever they walk into a new room. At Rules of Renovation, we have two major ideas for you below for choosing great-looking wall colors and for testing them. Remember, this can be a lot of fun! You don't have to take paint too seriously. If you make a mistake here and there, you can learn from it and just paint over it. Go in with an open mind and enjoy the home improvement process. Choose Great Colors  Buyers don't want to paint their walls after they buy a house. They're excited to move in and start living there, not to put plastic down on the floors and start painting. So it's important to pick great colors for the interior walls. But how do you choose? As with any skill, you need to learn the traditional rules ...