Are You Looking To Flip Houses?

SOURCE: FLICKR / WHOLOGWHY
SOURCE: FLICKR / WHOLOGWHY

Investing in real estate may be a better plan than the stock market says a recent article in US News and World Report: Money. Investors must decide whether the returns are worth the risks.

Once you’re on track with your financial goals – such as retirement contributions or repaying student loan debt – you may find yourself exploring real estate investments in lieu of the stock market. Buying real estate as an investment can be lucrative, but it’s also cash-intensive and carries risks.

On the other hand, house flipping may be an even greater risk for your reward. The popular TV shows certainly make it look easy, but house flipping is not of the faint of heart. There are some things you need to know before you launch that new career or part time venture.

“The math never lies,” says Brandon Turner, senior editor and community manager for BiggerPockets, a website for real estate investors, and a veteran flipper near Olympia, Wash.

In an article from US News, it does not keep people from trying —

Investors flipped 156,862 single-family homes in 2013, according to RealtyTrac, which defined a flipped home as one bought and sold twice within six months. The number of flips was up 16 percent from 2012 and 114 percent from 2011. The average gross profit for a completed flip – or more accurately, the difference between the first sales price and the second sales price ­– was $58,081.

If location, location, location is the mantra for real estate … do the math, do the math, do the math is the mantra for house flippers. You have to buy the house right and calculate ALL of the costs involved.

If you are looking for just the right property for either rental investments or house flipping, I believe I can help you find the properties you are looking for. The DFW area is a prime location for all types of investors. Let’s start that conversation … soon.

Wayne Gooden Realtor®

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