Let’s Not Be Flip About It

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Prepared by GEOFF CAPLAN
Member of the Deerfield Beach Real Estate Investments Club

No doubt you have been reading and hearing a lot about flipping as a faster way to earn money in Florida real estate. But, like anything else that seems appealing, there is more to it than meets the eye.

People are sick and tired of being in the grind, and how long it takes to just save some essential money as a hard working person. The prospect of doing something and turning a profit fast is very compelling.

You will need to have some education in the real estate market before deciding on flipping houses. You will need to know how much a fixer-upper house is worth before improvements and how much money will need to go into enhancements for flipping homes. The total cost of flipping houses includes the time the house will be on the market before it is sold. You will also need to accurately estimate the potential sale price for the house after improvements. Accurately assessing these costs will allow flipping homes to be much more lucrative and you will make smarter decisions.

When flipping homes, it is always a good idea to look for houses that can be purchased at a significantly lower price than it would be worth if in top condition. Do not be afraid to put in an offer that is low. This is especially true if the buyer is highly motivated to sell and the home has been on the market for some time. If you can get homes with the purpose of flipping houses at a significant value and fix them up fast and inexpensively, you can turn around and sell them at a profit. When flipping houses, the faster each phase is finished, the more lucrative it will be.

READ  Real Estate Investing 101

The improved home used for flipping will be significantly more attractive to buyers and will sell faster this time and at comparable market value as other houses in the area. The quicker this process is complete, the less initial investment you will have all told. The faster you can get a home sold, and for as much money as possible, the more profitable flipping houses will be for you.

#FloridaRealEstate #FlipaHouse #FloridaRealEstateInvestmentSchool #DeerfieldBeachRealEstateInvestmentsClub

No doubt you have been reading and hearing a lot about flipping as a faster way to earn money in Florida real estate. But, like anything else that seems appealing, there is more to it than meets the eye.

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