In the real estate market this year, it remains mostly a buyer’s market. Although values have been picking up in the past year, many homes are still available at decent prices with mortgage rates also continuing to hang low.
All of this supports a strong market for people who buy and sell homes at a profit. It’s also a great opportunity for contractors to build some steady income working with such buyers.
What is flipping?
“Flipping” a home means a buyer purchases a residential structure with the intent to resell it at a profit after a short amount of time. The profit is often used to purchase other homes to be sold in the same manner.
In order for the buyer to sell the home at a decent markup, he or she must put more value into the home to justify it. This may involve remodeling and upgrading the structure not only to boost the curbside appeal but to raise the value for the next homeowner, who is more likely to settle on the property as a new home.
[Read more…] about Home Flipping – a Golden Opportunity for Contractors?
Originally posted on March 7, 2014 @ 6:49 am