Have a passion for renovating homes or maybe you’ve watched just a little too much HGTV and think you can join the home-flipping business. Whatever piqued your interest in home flipping, we’re here to help. There are plenty of homes to flip. They made up 10% of all home sales in the U.S. in the first quarter of 2022. That’s the highest percentage since 2000.
Discover how to start a house-flipping franchise with N-Hance. Learn how to save money on major remodeling projects, including kitchens, floors, and trim.
What Does N-Hance Do?
You may be confused by the connection between house flipping and the premier wood refinishing franchise. Don’t be. With the question of how to start a house-flipping business in mind, look at our services and how they might boost your profit potential.
We refinish floors, cabinets, furniture, railings, and doors. In addition to wood refinishing, we also complete floor sanding and cabinet door replacement projects. Our cabinet refinishing types include basic renewals of lost wood color, yellowing removal, and complete color changes.
All these services are done with our proprietary chemical abrasion and refinishing technique. Our Lightspeed® U.V. curing technology shortens the refinishing process and produces less dust, mess, and odor than traditional methods. These processes allow us to complete jobs at one-third to one-fifth of the cost of conventional wood refacing or replacement companies.
How Does Wood Refinishing Fit in with Flipping Houses?
Every home has a kitchen, doors, flooring, and trim, and it’s an excellent bet that they’re made from wood. Renovation experts say you should always refinish hardwood floors when it comes to flipping homes. A remodeling impact report finds that those who refinish hardwood floors will get back dollar-for-dollar what they put into doing so. That same report notes that you can recoup at least 52% of kitchen upgrades, including refinishing those wood cabinets.
How to Start a House-Flipping Business
Starting a home renovation enterprise requires knowledge, planning, and financial savviness to succeed like any other business. Real estate investments are expensive. Make sure to research your financing options extensively to see what kind of mortgage type suits you and what interest rates you might receive. Remember, any interest eats into your earnings.
Then, you’ll need to find a home to flip. Experts recommend the 70% rule: Pay no more than 70% of a property’s after-repair value (ARV) minus the repairs needed. In terms of the actual flipping, you’ll want to complete it as quickly as possible. Time is money! The average house flip took 162 days from purchase to sale date in 2022.
Strengthen Your Home-Flipping Business with N-Hance
While N-Hance isn’t a house-flipping franchise per se, owning a location can benefit you if you want to renovate homes. We provide you with a business model that can guide you to success. If you own a house-flipping franchise, you might pay more for contractors to perform work than N-Hance can do at a fraction of the cost. So instead, become an N-Hance owner, invest that saved money elsewhere, and increase the value of your flip. Plus, if you have downtime between flips and want to earn quick revenue, you can easily do so with smaller cabinet refinishing projects. Building a network of Realtors will help sell more jobs like that. They can point their clients toward you.
If you have any experience flipping homes, you can hit the ground running with us. All you have to do is learn our proven business model and our one-of-a-kind techniques, and you’ll be on your way to saving money and making more on your projects.
Lastly, when there comes a time when you’re done flipping homes, you can shift your focus to wood refinishing, an in-demand service. N-Hance is in it for the long haul with you. Our support system is here to help weather any economic storm that might come your way.
If you’re ready to begin your home-flipping journey with the help of N-Hance, request franchise information today.