House Flipping With Your Plumber Skills

As the home market prices begin to slowly inch their way back up to pre-recession day prices, more investors are once again taking the plunge into home ownership. But they aren’t buying those first homes to live in, as much as they are buying them for investment flips. In the hey day when a house could be bought, reinvaded and flipped within weeks if not months, home flippers were making money hand over fists on their investments. Today, that flip may not happen as quickly but there is still a great deal of potential to be explored in this market.

If you’re considering becoming a home flipper you will need to have some realistic skills in home repair to make any kind of profit margin. The best two specialty skills you can possess in this regard are electrical and plumbing.

If you are able to be your own plumber on your investment house you can take care of the small things like leaky faucets and annoying drips and you can take care of more major projects like changing out shower stalls, sinks, and toilets. These are usually necessary components to any successful flip since kitchens and baths take the hardest hits by former tenants.

Your skills as a plumber can also help you if you need to do some massive repairs from damage caused by the home sitting neglected over time. In the haste to foreclose on many homeowners, the banks often failed to maintain their newly acquired properties and as a result, more than few suffered ruptured pipes from cold snaps.

It will take the skills of a plumber in most cases to repair damaged piping and ensure the remainder of the home is stable plumbing wise at least.

You may have to be prepared to sit on your home flip once your reinvention is complete but you may be able to at least start making your mortgage by becoming a landlord and renting the home out. This is another area where your skills as a plumber will pay for themselves since the most common call landlords report getting is usually about plumbing. You can’t even consider yourself a proper landlord until you have at least one flooded bathroom and a kitchen sink that leaks nonstop on a holiday weekend.

If you feel you have the plumbing skills, the investment money and you are prepared to wait out the market, this could be considered a good time to buy a home to flip while home prices are still low to the ground and interest rates are below five percent.

Talk to a real estate agent and you will probably find you have your choice of flip able homes, all ready and waiting for some TLC in the form of new plumbing fixtures and minor plumbing repairs.

The market is inching its way back up so consider your investment a way to help push things back up over the hump, while helping your own financial future at the same time.