A Race Against the Clock W BY: CLYDE H. LOVELADY
e’ve all seen the popular house flipping shows on HGTV and, let’s be honest, they’re fun to watch. It’s hard not to root for those camera-friendly hosts as they stumble across unexpected costs and other mishaps, only to somehow (after an upbeat montage) pull it all together and walk away with huge profits. According to RealtyTrac, homes flipped in 2016 sold for a median gross profit of $62,624. The profits are, in fact, huge and can be made — should be made — in a relatively short period of time, because in the business of flipping houses it’s a race against the clock. Here are the four basic stages in the house flipping process and how to cut down time in each one.
26 INSIGHT • November 2017
Upcycling for a Better World: People around the world are making the old new again through upcycling.