After the housing market crash, financial experts began warning people of the risks of flipping houses. With hiked-up interest rates and less buyers, flipping a home a few years ago could mean you were stuck with a money pit. However, housing prices are back on the rise again and consumer confidence has finally started to return. So it’s a great time to consider flipping a house! If you can find a low-cost property, in a good neighborhood, with a little time and dedication you can make a big profit. Here are some of the best reasons to consider flipping a house this year:
1. The Potential For Profit Is Huge
The average gross revenue from a flipped house is between $30,000-$40,000 depending on your local market. So whether you decide to flip a house on the side for a little supplemental income, or flip several homes as your primary source of income, you can make a lot of money.
2. Be Your Own Boss
If you are tired of working for someone else or you want to have a flexible schedule to spend more time with your family, flipping houses is ideal. Not only will you be your own boss, but there is a ton of potential to expand into long-term independence. Think about how great it would be to never have to sit at a desk again!
3. Use Your Skills To Make Money
Do you have a great eye for interior design? Do you have a range of handyman skills like carpentry, plumbing, or tiling? Flipping a home is a great way to utilize your extensive talents to make you money. Plus, if enjoy these doing things, flipping a home can be a really fun experience.
4. Increase Your Own Property Values
The quality of your neighbor’s property has a big impact on the property value of your own home. One rundown house can drive down the property values of the whole neighborhood. So if you flip a house in your neighborhood, you will drive up the value of the surrounding homes, including yours.
5. Funding Is Easy With Hard Money Lenders
Banks typically avoid financing house flips, preferring to stick to long-term loans that will accrue them large interest rates over years of time. Hard money-lenders however provide short-term financing with very flexible terms, so if you need cash to invest a flip, it’s easy.
So if you are considering flipping a house, check out the services at Hard Money Man. Our fix and flip rehab program can help you get the short-term financing you need to flip a house without the hassle. Our programs are available in dozens of cities including Chicago, Tampa, Orlando, Miami, Boston, Providence, Memphis, St. Louis, Portland, Seattle, Dallas, and Philadelphia. So if you want to try your hand at flipping a house this year, contact Hard Money Man for more information: Contact us here