How to flip a house without ending up with a flop

Hunt for foreclosures. Search the MLS. Do your own inspection. Can you handle the repairs? Can you do some of the remodeling? Look for foundation damage, cracks in walls, a lot of creaks, unleveled floors. Avoid it — too expensive to gain a profit.

The best remodeling starts with the kitchen and bathrooms.

Paint, new high-end lighting and top fixtures. On an older house, you want to keep the charm, but remove the date.

Know what your house is worth before you are finished remodeling. Make sure you don’t over improve your project for your local market. Location is still No. 1.