Last year was the strongest year yet for home flipping, with gains on flips in 2015 hitting $102,400 per flip on average, up from $98,500 in 2014 and significantly higher than the peak of $90,900 during the last housing boom, according to a report from real estate brokerage Redfin.
Unlike flipping, what if you purchased the same home with the intentions of holding onto it as a long term rental? People always need a place to live and why not have a steady flow of income, a nice tax write off and equity that someone else is creating (tenants paying down the mortgage).
To make this as passive as possible you should have a property manager take care of all your rentals. If you're already a landlord please ask for a FREE Rental Analysis.
This list of the top 10 neighborhoods for home flippers has a lot do with that lofty rise.
Archives for March 2016
This townhouse only had two bedrooms and no loft, and desperately needed a dedicated workspace & playspace. Angie was struck with inspiration — why not build a loft?
She had her husband and father-in-law build this clever, creative loft and made it into a little nook for working and playing. Now Angie and her daughter both have a little place of their own to get away and color, play, and maybe even get a little work done. Here are some photos of the building process, and one more of the final result: