January 2012’s Question

Jan 21st, 2012 | By | Category: Question of the Month

Real Estate Question | The Sahuarita ConnectionIs there still a market for flipping houses?

Yes! There are opportunities to purchase distressed homes that are priced below market value that can be fixed and “flipped” (resold) at a profit. Do not think that watching a few episodes on HGTV will prepare you for this endeavor, though. You need to get a firm understanding of what market values are and what your renovation costs will be. The most successful flippers use quality products for renovations, so don’t plan on installing cheap vinyl flooring if your goal is to make a profit. There are specific timelines for flipping certain types of foreclosed properties, as well as closing costs to pay, so consult with a trusted lender or Realtor. Be realistic about the time it may take to renovate and resell the home and be prepared to take on the monthly expenses while it is on the market.

For more information, call or text Mary Benavides at 520-248-2130

Leave a Comment