People get into real estate investing for a variety of reasons: maybe they love hunting down the perfect property, or they get a thrill out of racing the clock on renovation projects. Perhaps redesigning interiors gets their heart pumping - but at the end of the day there’s one really big, fairly consistent reason… they’re looking to make money. After all, if you don’t turn a profit at the end of a fix and flip project it could be much more difficult to get your next one off the ground, especially if you’re just starting out. With that in mind, we’re going to take a look at 10 fix and flip trends that will make you money in 2018, and help set you on the path toward financial success.
There are a variety of loans available for investors looking to purchase and rehabilitate properties, but the most popular among them are fix and flip loans and construction loans. However, there are definitely differences between the two - even though they may sound similar - and each are ideally suited to specific situations. In fact, one of the biggest differences is that hard money construction loans are typically issued for properties that have yet to be built, whereas fix and flip loans are issued for properties that are already in existence and need a bit of TLC.
When it comes to financing options for flipping homes, a fix and flip loan is most likely going to be your best bet. There are, of course, a variety of financing options for borrowers and developers, but there are a number of reasons why fix and flip loans specifically are exactly what you’re looking for.
For many individuals looking to break into the real estate investing business, one of the first avenues they consider – thanks largely in part to popular home makeover television shows – is flipping houses. These programs generally feature highly successful flippers with years of experience and funding readily available. What they don’t show you is what the beginning stages of breaking into the industry actually entail – such as securing rehab or fix and flip loans, developing relationships with trusted contractors and real estate professionals, and getting their own hands dirty doing a lot of the work themselves to ensure they make a profit on the project.
YouTube has become a source of entertainment for our mobile generation. Amateur and experienced filmmakers have taken to this channel to showcase their skills and share their lives. It has also become a host for educational videos - from how-to’s to do-it-yourself videos - you can find just about anything. Almost 5 billion videos are watched on YouTube daily, with over 300 hours of content uploaded every minute! Every industry, including real estate, has flocked to this channel as a way to further help share their tips and tricks. We put together a list of some of the top YouTube channels you should subscribe to if you're active in real estate or planning to dive into the fix and flip world.
Real estate investors typically seek foreclosed or older homes because they come at a good price. But often times, these types of homes require a little (sometimes a lot) of love. At the end of the day, the work you put into your rehab property should generate a considerable return on investment. So, how does one determine if they should rehab to rent or rehab to sell?
As the seasons change so does the real estate market. It’s important to adapt your home staging strategy and decor for the season. Understanding what each season brings can drive your staging budget and attract buyers.
Here are some tips for staging in all four seasons:
When picking a property to fix and flip, a few of the most common ways to add value include: kitchen upgrades, finishing basements, a new paint job, and installing new flooring. However, there are a few other not so obvious ways to enhance your property, especially for the millennial crowd.
We live in a day and age where technology dominates our lives. We are more connected than ever through our smart phones, tablets, streaming devices and even our TVs. In a 2015 survey by Better Homes and Gardens, 64% of millennials surveyed were interested in having smart technology in their homes.