Purchase Options for a Profitable Flip

Profitable flipping involves many factors which all work together to give realty enthusiasts the best return when selling real estate. One of these important variables is where to buy the materials required when working on a flip. This section will focus on the budget-savvy best practices of purchasing renovation materials for a property flip.

Why pay full price when you don’t have to? There are very few items in life for which people actually have to pay full price. This rule is especially true when it comes to renovating. To seek the best prices on items for redoing the home, try the following options:

On sale
Most retail locations have to liquidate their stock at seasonal intervals to make room for new stock. As a result, companies usually put items ‘on sale’ to draw people into the store or liquidate their inventory. With this in mind, plan ahead and try to find the items you’ll need for your reno in the off-season or season's end when the items are discounted.

Wholesale
Another purchase option for house flips is the plethora of wholesale distributors in the industry. Sometimes you need to be a certified professional in the business or know someone who works at the store to shop there, whereas other times, wholesalers will allow non-industry people to shop if they purchase large quantities. Look into what’s available in your area –you never know until you ask.

Auction
Many areas have home auctions offering everything from granite tiles and countertop slabs, to flooring, furniture and more. Depending on the area and the auction, typically high-priced items can go for a fraction of retail price.

Seconds
Sometimes stores produce items which are in perfectly good condition, but due to some hardly-noticeable flaw, do not pass the quality standards to sell. These items are called seconds. Ask your local retailer if they have seconds for sale.

Outlets
Many big chain stores have factory outlets to get rid of excess inventory. Usually, these stores sell their products for at least 20% below retail.

Local Newspaper
Sometimes before homes are torn down or gutted for a large-scale reno, people sell all the items in the house. Sales of these types are usually posted in the community or local newspaper.

Local Forums or Buy and Sell
Many towns and cities have local “buy and sell” listings for people to buy and sell items. Often, these publications are online as well as in print and can offer great deals on new, like-new and second-hand items.