Flipping houses in Toronto can mean big money, especially if you can manage a quick real estate sale.

Most people who have experience in flipping houses know the key to maximum profit is setting clear target dates for each stage of the process; from purchase, to renovation, to selling, and they will tell you that sticking to these dates as much as possible is vital, especially the sell by date. Most flippers will tell you the sweet spot is approximately one year from start to finish.

A year is doable, provided you get the right property, in the right location, and a year absolutely does not mean rush, by any stretch of the imagination. Confusing a quick sale with the need to rush can lead to mistakes that could cost you in the end, either through an extended repair budget or because you’re forced to lower your selling price.

Experts will also tell you the best way to set yourself up for success and be able to adhere to a strict timeline is to surround yourself with experts. These experts should include realtors, professional contractors, and mortgage specialists.

What Can Realtors Help With?

Realtors will help you get to know the type of buyers that have previously purchased in your area, be able to provide information on what past homes has sold for. Any realtor worth their salt will also be able to forecast what the market will be around the time you have scheduled to sell.

How Can You Tell a Contractor or Renovation Company is Professional?

Professional contractors and renovation companies should be vetted to ensure you’ll be able to trust both the skill level and the ability to complete work in a timely fashion. Actual customer referrals will help with both, and where possible, a physical visit to past jobs to gauge past customers satisfaction levels with completion of job, adhesion to budget and quality of work.

Do You Really Need a Mortgage Specialist?

A mortgage specialist is one professional you will absolutely have to connect with to ensure you can get the best possible rates. You may think this is common sense, because you’re in this to make a profit, but it especially important in the event that you find you’re unable to sell as quickly as anticipated and having to carry the mortgage for a few months until the seller’s market is more in your favour.

As mentioned above, the key to maximizing profit is setting (and sticking to) clear target dates for each stage of the process. Another key is making your money work harder in that time as well.

Shop2Save is an innovative online consumer buying and savings platform that helps their members to save on purchases as well as earn cash rewards dollars for each of those purchases. For those who are flipping houses in Toronto Shop2Save is a secret weapon you can use to further maximize your profits.

With Shop2Save you’ll receive cashback rewards dollars for much of your planned house flipping expenditures including buying or selling your property with Remax, and arranging mortgages though Dominion Lending.