Wondering if Flipping Properties…
Is the Best Way to Make Money in Real Estate?
If your looking to make a quick buck, then Flipping Properties usually is a great way to go. How ever, if you looking for the best way to invest in Real Estate, then Flipping Condos or Houses may not always be the best route. There are a number of methods of investing in the real estate industry. Although Flipping is one of the fastest way to make money with Real Estate, there are some safer and more lucrative options as well. Another key factor is that normally flipping can take up quite a chunk of your time, which also needs to be factored in when calculating your ROI. In this article we will talk about some of the key advantages and disadvantages to Flipping Properties.
- One of the Quickest ways to make money with R.E.
- Hands on type of work (if desired)
- Many resources available on how to do this.
- Very high risk comparing to most other options.
- Little control over the outcome.
- More difficult to find capital. (unless you use your own)
You may be wondering what some other options are that may be better than flipping properties. One of the better more long term options are property management. What you do is search and buy properties, or more preferably multi-unit buildings. Then renovate them cost effectively, and then rent out the units at a higher price. You see when your buying a single property, its value will be dependent on a number of factors which you cannot control. How ever, in comparison to larger apartment buildings, they are valued based on income and occupancy. This means with proper property management, you can control the value of much better than comparing to single properties.
There are also many other methods of making money like, Tax Liens, New Developments, Short-Term Rentals, and much more. One more recent popular method of making capital with condos is using a service like AirBNB. To learn more about the different methods of investing in real estate, or to get help with maximizing your profits with Flipping Properties feel free to contact us anytime.
Written By: Mitchell Raman