It is possible to start with one house that you do fewer renovations to and build the value of the neighborhood by renovating many of them to a higher and higher standard. Keep in mind who your ideal buyers are. YOU are not moving into the new home. The level of activity of other investors and the competition in the area may determine not only whether to enter or exit a specific market but also give a hint about pricing and your marketing efforts. Realizing Success in Fix-and-Flip Investments Fixed-and-flip investments provide a great opportunity for making money in real estate, but at the same time, require in-depth knowledge of
market dynamics, careful planning, and great team assembly. This, together with busting common myths, objectively gauging the financial metrics, and dealing with the convolution of renovation and sale, an investor can unlock massive value in real estate. In fact, through strategic foresight, due diligence, and the right partnerships, there is immense success that can be tapped into in the fix-and- flip market. That is reflected not only in the financial rewards but also through growth in their professional lives. It is not a hobby. If you want to try this on for size you have to be deeply committed.
Michael Garrison is an investor, real estate entrepreneur, and construction industry consultant whose mission has been to promote purpose, security, and success. He was once a radio celebrity and is also the executive editor at The Bellwether Magazine. Connect with Michael on LinkedIn.
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