Sidney Torres knows a thing or two about developing properties. After successfully flipping his first home on a salary of just $40,000 a year, Torres used the profit to buy a property next door and never looked back.
Today, Torres has developed over $250 million in commercial and residential real estate and now helps struggling property investors on CNBC's "The Deed." On an upcoming episode, the real estate mogul helps one New Orleans-based home-flipper, James Brooks, boost the value of his property on a tight budget.
Here are three home design hacks Torres gives Brooks that anyone can use to save money when flipping a property.
1. Play it safe. The less you personalize a space, the better, says the real estate veteran. By using bright colors on the walls, or in Brooks' case, wanting to use a complex tile pattern, "you're limiting the playing field," says Torres, who likes to keep things simple and symmetrical.
And the less complex your design, chances are, the more you'll save on materials.