In the Interview, Deloney Discussed the Differences Between Success and Failure When Flipping a House
Winston Deloney, a real estate investor and entrepreneur based in Chicago, Illinois, is pleased to announce that he was recently featured in an interview on the Hawaii Weekly website.
To read the interview, which is titled “Winston Deloney (Real Estate Expert) Shares The Difference Between Success and Failure When Flipping Houses” in its entirety, please visit https://www.hawaiiarmyweekly.com/business/winston-deloney-real-estate-expert-shares-the-difference-between-success-and-failure-when-flipping-houses/
As the article noted, Deloney has had plenty of experience flipping homes during his career. When asked what the most important thing is to know before flipping a home for the first time, Deloney said it is crucial to have a clear vision in mind.
“You can have all the resources in the world but without a clear and sustainable goal, you are setting yourself up for failure,” he said, adding that when home flippers have a definite goal in mind, they are able to make a game plan that can be adjusted for any obstacles they may face down the line.
As for the best place for newbie house flippers to start, Deloney said it is important for them to get their financial ducks in a row. Because there are so many options for financing, including using a home equity line of credit and taking out a loan, investors should do their due diligence and determine which financing option is the best for them prior to looking for homes to flip.
When asked if it has been possible to flip a house during a global pandemic, Deloney replied that it has been surprisingly a great time to buy investment properties.
“Mortgage rates are really low right now which means you can get a good deal on a piece of property. Take advantage of this, it could save you thousands of dollars in the long run,” he told the interviewer.
The interviewer finished up by asking Deloney if house flippers should ever accept an offer that is lower than their asking price. He said that while flippers should not undersell themselves and the time and effort they put into getting the property fixed up and ready to sell, negotiating is not inherently a bad thing.
About Winston Deloney:
Winston Deloney is a Chicago, IL based real estate investor, passionate entrepreneur, and a self-proclaimed foodie. To learn more, follow Winston Deloney on Twitter here: https://twitter.com/deloneywinston