7 Insider Secrets About House Flipping To Put You on the Path to Profitability
7 Insider Secrets About House Flipping To Put You on the Path to Profitability
Is 2021 the year you re going to buy an investment property? We spoke to successful home flippers about what they wish they had known when starting out.
Dawn Allcot, provided by
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Is 2021 the year you re going to buy a real estate investment property? If you have your sights set on flipping a house for a big profit, you likely know how much work is involved. Sure, popular real estate reality shows like Flip or Flop and Flipping Across America make fix-and-flip investing look like a feasible endeavor, but you re wise to the magic of TV, right?
1. Stick to your maximum allowable offer
Our experts all agree that buying a fix-and-flip investment should not be an emotional decision. There are certain formulas that every house flipper needs to calculate in order to make a profit. Real estate investing is a numbers business, and if the deal doesn t make sense when you crunch the numbers, you should be able to walk away,â says
Hayden Lyon of Cowtown Home Buyers, a real estate investment firm in Fort Worth, TX.
âStick to your maximum allowable offer. Going above your MAO is just asking for trouble, says
Ryne Lambert, co-founder of Sell My House, a real estate investment firm in Green Bay, WI.