It's tempting to visualize how a remodeled condo will be furnished, or to fantasize about how to spend your share of the "flipping" profit. But without a specific action plan that includes a detailed cost estimate, a realistic schedule and the talent to make it all come together, such dreams can become exercises in futility.
The business of real estate investing is just that, a business that requires mastery of a specific set of skills. It's not rocket science, but it's not as easy as flipping burgers either. Here are some tips to assure that your dreams of fix and flip success become reality.
Foreclosures can be a gold mine for fix and flippers looking to "buy low". The good: often priced well below market, in desirable locations, and in desperate need of rehab, they are just what flippers are looking for. The bad: they are not such a big secret anymore, and there is a lot of competition to get them. The ugly: often the properties themselves are in pretty bad shape, and many will not allow inspections so they can be risky. But there are still great deals to be had if you know where and how to look for them. Read on to find out about the different types of foreclosed properties and how to find them!
Property flipping gets a lot of airtime these days, with lots of HGTV shows and flipping couples who have even become celebrities. Buying and holding isn't quite as sexy, but has many benefits. Which real estate investment strategy should you try? Or a little bit of both? Read on for a quick list of the pros and cons of each ...
It's not ALL about hard money loans in Washington, DC and fix and flipping your real estate investment properties. We all need to take a breather once in a while and load up on good chow. But where should you grab a bite to eat in DC? How about checking out what the local food trucks have to offer? And, we're not talking about those carts that sell hot dogs and pretzels to tourists around the National Mall. The trucks we're talking about first arrived on the scene around '09 and offer gourmet takes on street food and elevated comfort fare. Today, you can find these trucks scattered throughout the city, including Farragut Square, Franklin Square, the Waterfront Metro and Union Station. Another spot where you can find a number of these vehicles is Food Truck Alley, located at 20 Massachusetts Avenue NW.
Here are some of our top picks that we encourage you to try:
After the months of sweat equity and money poured into rehabilitating an old property, you undoubtedly want a quick financial return on your real estate investment. Now that you’ve crossed the construction and renovation finish line, you may feel a bit guarded about spending extra cash on commission fees and are considering listing the property yourself. These short-term savings can have long-term negative ramifications. Hiring a top-notch real estate agent can streamline the selling process and ensure you receive top dollar for your fix and flip by getting your property in front of the most qualified buyers - quickly and efficiently.
Here are a few pretty compelling reasons to hire a real estate professional versus going it alone when selling your property:
Millennials are finally buying homes, Baby Boomers are downsizing, and Gen-Xers are upsizing. Now add to the mix a national housing shortage and population shifts. What does all this mean for housing markets in Washington DC Metro and the country?
To many, March Madness means basketball. In real estate, March Madness is the mad scramble for sellers to put their houses on the market and for buyers to come out in force to start their search. But what does the data say? Is Spring really the best time to list your house so it sells quickly and for top dollar?
When it comes to real estate investing, most flippers are looking for two things: a quick sale and a high ROI. And unless you’re flipping an urban condo or co-op with no private outdoor space, your landscape decisions can have a big impact on both your turnaround time and profit. In fact, Bankrate reports nearly three-quarters of home buyers believe landscaping is an important factor when buying a home, with a well-executed landscape project yielding a 215% ROI on average.
To maximize your real estate investment, balancing the perfect amount of hardscape and softscape is the key to creating a beautiful exterior that will ensure a quick sale for your fix and flip. Here are some pointers:
Determining what parts of a home should be renovated can be a tricky decision. As the majority knows, money doesn't come easy and large-scale renovation projects should be thought-out and planned wisely. Should you remodel the kitchen or update the bathroom? Is it the right move to transform the attic or should you instead spend extra money finishing the basement? We've got some pros and cons for you which will help you determine if your money should be spent on a basement remodel or if a different area of the home should call dibs on your time and money.
Beige is officially "out"! Eclectic, sustainable and "personal" are the watchwords for 2017 and beyond. Smart technology will be pervasive, not only for home security, but also in the kitchen and throughout the home. From space utilization to home furnishings, rules for the coming year seem sure to herald a fresh breeze across the home scene. The savvy real estate investor will want to capitalize on these emerging trends when planning their renovation project. Let's take a look at what this year has in store: