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What is house flipping?
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2nd Dec 2009 by JonB
"Flipping" typically refers to the quick buying and selling of houses by investors in order to make a quick profit. Many real estate investors spend a great deal of time searching for houses that are undervalued, or just need some cosmetic repairs. an investor may buy a house, spend a few weeks making minor repairs, then put it back in the market in hopes of making a nice profit. Many houses that are in foreclosure can be bought for a fraction f their previous value, these are often targets for "flipping". The investors must keep in mind that in order to profit, not only do they have to sell the house for more than their initial buying price, but they must cover the cost of any interest, repairs, closing costs, and real estate fees. Only then is profit netted.
"Flipping" typically refers to the quick buying and selling of houses by investors in order to make a quick profit. Many real estate investors spend a great deal of time searching for houses that are undervalued, or just need some cosmetic repairs. an investor may buy a house, spend a few weeks making minor repairs, then put it back in the market in hopes of making a nice profit. Many houses that are in foreclosure can be bought for a fraction f their previous value, these are often targets for "flipping". The investors must keep in mind that in order to profit, not only do they have to sell the house for more than their initial buying price, but they must cover the cost of any interest, repairs, closing costs, and real estate fees. Only then is profit netted.
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1st Dec 2009 In Real Estate
1 Answers | 56 Views
Subjects: house flipping,