"Real Estate Investing" Is House Flipping the Way to Get Started?
Real estate investing is certainly not new, but today's real estate market is considerably different than it was just a decade ago. Although the real estate market is currently cool, investing has never been hotter.
Every day, people flock by the dozens to real estate investing seminars in hopes of achieving their financial dreams. They know there is money to be made in realestate and are willing to plunk down a few thousand bucks to obtain the knowledge.
Before you spend money on a real estate investing seminar, spend time conducting research on the different types of investments available. The most efficient way to learn about real estate investing is to conduct research via the Internet. Your local library is another good source for locating reference materials.
It's important to determine which type of real estate investing is best suited for you. Do you want to invest in single dwelling homes, duplexes, condominiums? Do you want long-term tenants or temporary guests? Do you want properties that require total renovation or minor cosmetic touch-ups? Perhaps commercial real estate is more appealing to you?
One type of real estate investing becoming popular with both novice and seasoned investors is known as "house flipping." In this type of real estate investing, homes in need of repair are purchased under market value. Investors either personally make the repairs or hire subcontractors to perform the work. In addition to repairs, these homes oftentimes require renovations including new countertops, flooring, household appliances, and landscaping.
House flipping is a relatively easy way to get started in real estate investing. One of the main benefits of house flipping is it can be done in your spare time. Repairs and renovations can be done during the evening and weekend hours.
If you invest time learning the proper way to flip a house, you can make a considerable amount of money in a short period of time. While there is no guarantee to the amount of money you can make, the average profit margin for house flipping is between $10,000 and $30,000 per home.
If you are able to purchase and flip four homes per year and make $10,000 profit on each property you can put an extra $40,000 in your pocket. Imagine what you could make if you were able to make $30,000 profit from each home. Before long, you could quit your day job and make house flipping your full-time career!
House flipping is a perfect occupation for those who enjoy do-it-yourself projects. If you are the handyman type, you can save a tremendous amount of money by doing the work yourself. If you don't enjoy doing this type of work, there are many skilled laborers looking for work. These folks are eager and willing to do the work for you at a reasonable price.
Besides being able to make a nice profit, house flipping offers the reward of transforming an old or worn-down home into a beautiful home where a family can create life-long memories. Although house flipping generally involves a significant amount of physical labor, the rewards are certainly worth the effort.
House flipping may or may not be right for you, but before you decide invest time researching your options. When it comes to investments, real estate is always a strong consideration.
Published on April 01, 2008 at 09:51 PM | Comments: 2