Yahoo! Finance

HOUSE FLIPPING RULES YOU SHOULD NEVER BREAK

“Home improvement and DIY shows sometimes give people a false sense of the time, skill and money that are needed to renovate a house,” said Craig Russell, the CEO of The English Contractor & Remodeling Service, a contracting and building firm based in Cincinnati. “In flipping a house, time and money are everything, since the investment made in the purchase of the home and its improvements lead to the total return. Shiny new appliances, wood flooring and special details cost money, so those investments should only come after the flipper is certain that the roof and foundation are sound.”