Flipping For The Green
When most people think of real estate investing, one of the first things that comes to mind is flipping houses. Flipping houses means you buy an investment property and immediately sell it for quick cash. The process has worked successfully for many, especially when various improvements have been made to the property prior to selling. But the ‘green’ I’m talking about isn’t referring to the money from the profit of the sale, the “green” I’m referring to is the Earth-friendly way of renovating a home.
The trend to being “green” these days is increasing dramatically. You see so many Earth-friendly changes popping up almost everywhere you look: hybrid cars, organic foods, and recycling, just to name a few.
So what does this have to do with flipping houses?
Well, if you think about it, buying older homes to renovate and flip is, in a way, recycling. I just saw a news bit on television earlier this evening which talked about how a 1.5 brand new homes are being constructed every day in the United States alone. With the life longevity increasing, the demand for housing is always constant, if not increasing. So, buying an old, run-down fixer-upper, renovating it and then reselling it is a good thing.
An investor can go even further than that, and move towards a more Earth-friendly way of renovating property as well. In fact, here are a few “green” renovations that could be done, although, the possibilities are endless:
- using cork flooring instead of traditional hardwood flooring
- using recycled building materials, like reclaimed wood or insulation from recycled denim jeans
- installing energy efficient fixtures, like shower heads and toilets
- buying florescent light bulbs in place of incandescent ones
- installing recycled glass counter tops or other recycled material
It may seem like some Earth-friendly options are pricey, but factor the expenses into your budget (you savvy investor, you!) and your reward will not only be a unique and extremely attractive selling point for your flip, but you’ll feel better about yourself for doing your part to save the planet too!
Go Green!!
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