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I am NOT an experienced investor however with current market conditions buy and hold is the way to go. Properties are pretty cheap these days and with all the forclosures out there people need a place to live, finding tenantes might be a bit easier. If you were to flip, financing is difficult for many to obtain therefore your house would take a lot longer to sell creating more carrying costs. Flipping is a gamble and takes a lot of hard work and knowledge. I not sure what your background is but get as much information as possible before you take the plunge.
If you are looking to flip houses then you need to study up on how houses are selling or not selling in your market.
For us, we plan on buying and holding (renting). We hope to build our investment portfolio over the next 10 years with several properties. With the end goal being that when we retire we will have either A) Rental income streams and/or B) Property that will go back up to market value that we can sell.
Price overcomes all objections.
Flipping, whether you mean fix and flip or wholesaling, is a real estate business. Buy and hold is real estate investing. The difference is that a business is an active pursuit. You do the business (or, have your employees/contractors do it), and you make money. Investment is more passive. If you hire out the management and maintenance, its nearly completely passive. You invest your money and (hopefully) get a return. The management and maintenance aspects of buy and hold are really businesses. Some investors choose to outsource that, others Nike Roshe Run Orange
I feel like you should do both if you are able. The buy and hold is a sure way to creating wealth and free retirement. The buy and flip or rehab and flip enables you to see a CASH return instantly, whereas the buy and hold is only a paper return. Both are great.
All investors don fit in the same cookie cutter. Some have high income and tax consequences. To them, a buy and flip doesn do much after adding additional taxes. They might be better off holding for awhile.
To the guy not earning big income and having big taxes, a buy and flip provides more bang for his buck.
Don just look at houses that have Nike Roshe Run Tiffany Blue sold but look at the houses that haven sold. Your "dud" ratio is what I call it. How many expired listings were there in that same time frame as your comps? What is your market inventory (the total number of houses for sale for that month divided by the pending and sold listings for that month)? I like to see a dud ratio of less than 25%, and an inventory of 6 months or less.
I hope that our goals are realistic. I look at them in a modest way because I don see it as a get rich quick plan, but rather to give us the ability to have a more financially comfortable retirement when the time comes.
Even in some of the worst markets in the country, houses are still selling. Now they may be selling for pennies on the dollar, LITERALLY, but they are still selling.
more. You might be looking at $80,000 to $85,000 or even less depending on the severity of your local market. The idea is to compare your projected ARV with what is currently selling on the market and to factor in local changes in supply and demand (as with increased foreclosures and/or dwindling economy) to get a conservative idea of what that house will sell for in the time you want to sell it in.
Good Luck,PS: Get to know your local market, things might be different for you. This is just a generalized statement based on what our country is going through currently.
It definitely depends on your local market. Houses are still selling across the country but what your local market is doing makes a huge difference. I think buying and renting is definitely a safer bet right now in most parts of the country, but that doesn mean flipping is not still viable.
Now if these factors are not what is desired, the key is to adjust your expected sell price.
If comps for the last 3 to 6 months on a house come in at $100,000, but 50% of listings expire, the housing inventory is at 9 months, and the local economy is stable with a slightly increased number of foreclosures then I would look at adjusting that ARV (After Repaired Value what it will sell for all fixed up) down 5 10% to compensate. I would go back to my comps and see how my house would compare with the others sold if mine was selling at $90,000 or $95,000.
your goals are.
While I extremely new to investing, I guess the answer would depend on what Roshe Run Black And Green
House flipping vs Buying and renting out
One more thing I would consider is the rate of foreclosures for your local market. An influx of REO (Real Estate Owned foreclosed houses that banks are reselling) can drastically decrease housing prices in an area.
Point being, price overcomes all objections.
If your local economy is in free fall or foreclosures in your area have gone through the roof then you will need to adjust your ARV down even Nike Roshe Mens Jd
If houses are staying on the market for 9 months at what you are expecting to sell your house for, then knock 10% off and see how it compares now.
You also need to understand the local economy. Is your local economy staying strong through these tough times or is it taking a hit or is it in freefall?
Originally posted by Rich Weese:Raise your sights!! If you can buy 1 home a year for 20 years, you be able to retire and never work another day of your life. (based on following)
do it themselves.
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