Hot House-Flipping Markets
The Lincoln Journal Star writes, “When you think of hot house-flipping markets, cities in California and Florida probably come to mind.
But according to a report released Tuesday, you’d be better off looking to more stable Midwest and Plains cities, including Lincoln.
Lincoln came in at No. 5 on personal-finance website WalletHub’s list of 2016’s Best Cities to Flip Houses. The only cities that ranked higher were Sioux Falls, South Dakota, Fort Wayne, Indiana, El Paso, Texas, and Oklahoma City.
“These Midwestern cities offer low renovation and remodeling costs, which are very important when flipping a house, and also provide a great quality of life for their residents, so your flip hopefully wouldn’t stay on the market for too long,” Jill Gonzalez, a WalletHub analyst, said in an email.
Are you attracted to hot house-flipping markets? Do you want to know how to make money flipping houses? Flipping house is a great way to earn more than is available in banks, savings and loans, and credit unions. Definitely better than yields of treasuries. Flipping is a short term strategy. Jerry Norton, the nation’s leading expert when it comes to flipping houses and commercial properties, says it’s a way to make money in a short period of time as opposed to a long term strategy of owning rentals and parlaying the cash flow into more rentals.
It can be easy to get started. Many flippers start out flipping deals to wholesalers. There is little risk and little of your money involved. There’s no rehab and you just flip the contract to someone who wants to add amenities that home buyers desire. You can make $3,000 to $10,000 per flip this way. If your goal is to make bigger money, $75,000 to $100,000 a year, you need to do a lot of flips.
Flippers might tire of flipping the house to a “fix and flip” individual and want to know how to make money flipping houses. Why should I just wholesale the property, when I can make more money by doing the rehabbing? Well, there’s more risk, because your own money is on the line, and you must work with contractors, and have excellent estimating and cost controls. But…you can make $15,000 to $25,000 per deal which is significantly more money.
Many flippers find a great niche flipping starter homes or dealing with lower priced homes. For example, buying homes for $97,000 and selling, after bringing the home up to modern standards, for $200,000+. It takes a different mindset than being a wholesaler, and a better opinion of your capabilities, but Jerry Norton says it’s an evolving process.
Jerry Norton of Flipping Mastery wants to help you evolve and invites you to check out his latest tips, strategies, techniques, and/or just a darn good ideas that will help you flip more deals.
To help you do that, he’s making his electronic book, “How to Be A 6 Figure Flipper,” available to you free. Click on the link, “How to Be A 6 Figure Flipper,” and get his book free along with your free access to the entire “Fix & Flip Automation Tools” Suite.
A quick glance through the table of contents reveals the great information available, with chapters on:
- Chapter 2: Fix and Flip Buy Formula 10
- Chapter 3: Raising Capital
- Chapter 7: Finding Deal
- Chapter 11: Managing the RehabI immediately dove into Chapter 3.
Perhaps, you want to be in invested in real estate, but don’t want to actually do the fix and flips. We have a need for investors with a limited budget for secondary financing. They would be behind the primary lender, but protected by ample equity. Their returns can be in the 10 to 12% area. Call us if you would like to know more.
JT Integrity Properties is here to help homeowners out of any kind of distressed situation. As investors, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.
Give us a call today at 260-202-2222 to let us know what YOU need help with!