House flippers buy houses to renovate and remodel then sell the houses for a profit. They do this repeatedly throughout the course of a year. They buy a home at a price that seems way below market value for the home, but because it is in disrepair the home cannot command the high price it might otherwise. Flippers see homes like this and salivate over them because flippers know that the home can be easily, quickly and cheaply upgraded.
A house flipper buys a house that seems profitable. They map out a budget for the renovation and landscaping. They also give the project a time line of when they expect completion. The heart of the flipper mindset is to get in and get out quickly. They do not wish to own the home for long and have to pay a monthly mortgage. That would eat into the profits. The time allotted for the project differs greatly for each one and the work required, but the flipper does not wish to have the home for more than one month.
Things included in the budget vary from job to job, but some things are constant like utility costs since the workers need lights and electricity to run their equipment. The flipper will have to contact waste management companies for a dumpster and put that in the budget as well. Paint is a budget item that is needed on every job too. A fresh coat of paint can be used in a room that doesn’t necessarily need to be renovated. More info: waste management companies Boulder