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Updated almost 7 years ago on . Most recent reply

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32
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Edward Shen
  • Philadelphia, PA
4
Votes |
32
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Flipping a House, Should I do For Sale by Owner?

Edward Shen
  • Philadelphia, PA
Posted

Hi everyone,

My name is Edward and hope everyone is doing well. Thank you for reading my forum discussion page. I am new to this whole real estate world and was asked by my Dad if I wanted to help him flipped a house. There are two challenges he asked if I was able to do. First, if I able to help him with interior design the house (in which I do not have any knowledge of beside watching a lot of house flipping shows) and Second to help him sell the house. He was suggesting that if you think you can sale this house after renovation, you can keep the realtor commission fee (In which is kinda what my motivation). Therefore my question is, What is the pros and cons for, For Sale by owner? I do not have a real estate license and is trying to sale my house as FSBO. What are the things that I need to know and is it actually worth it? Second question is that, is there any tips on interior design. Is there an app I can use to help me with simple blue print layout to creatively redesign a house, allowing the house to have sharp and clean look to attract the buyer.

Thanks again in advance for the help and suggestions!

Most Popular Reply

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42,851
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,207
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42,851
Posts
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

Bottom Line:

If you can't put it on MLS you stand a very small chance of selling it FSBO

you need the exposure to thousands of agents who then expose it to all their clients.

so instead of you whistling in the wind.. your property once it hits MLS goes to maybe 50k people who are activity looking and working with their realtors.

don't fool your self into thinking but your house will sell.

It can happen but its a tough one in the retail owner occ space..

Multi family or investment properties are very often sold off market.. just depends on what you have.

@Steve Vaughan  you think WAZU  excise tax is bad just wait and see what it is in PA.. off the charts is what it is.. 2 to 4X what we pay in WA excise tax.

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JLH Capital Partners

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