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.
Think you can’t invest in real estate because you love to travel? Think again. Here’s how one traveler renovates, manages and rents her investment property, no matter where she is in the world.
Sometimes it’s worth investing in a middle man. Pant describes hiring a property manager after a phone consultation. She signs the contract electronically and keeps tabs on the property’s needs by email. The property management company does all the necessary upkeep, like cleaning gutters, and sends photos to Pant when tasks have been completed.
Even when she’s adventuring around the world, Pant knows her property is in good hands. read more