Next week on http://www.blogtalkradio.com/everythingrealestate Michele and Steve will discuss the pros and cons of flipping in today’s market.
“Flipping Out”, the reality series on Bravo is humorous, but at the same time, very realistic. The main character, Jeff Lewis, depicts the life of an investor with a passion for flipping properties. His show demonstrates the frustrations and the highs and lows associated with renovating a property for profit, while coming out unscathed from all the drama.
While I am not flipping now, “Flipping Out” satisfies my cravings for buying and selling investment properties.
With no surprise, the economic downturn forced novice flippers out of the market and left banks holding an ugly book of mortgages. Over the past year, buyer have come back into the market and investors with cash have been able to cherry pick great deals.
With the tight lending laws, not everyone qualifies for an investment property mortgage. Cash plays a big role in buying and selling investment properties and people are afraid of holding a property too long. If a property sits on the market too long, the profit goes down the drain. There are still deals out there, but you have to know how to identify them. This is what makes this a market for experts, who know when, where and how to get into an investment property in order to flip.
For property suggestions and design ideas, go to http://www.michelmarano.com.
For an investment consultation, call Michele Marano at Beth Wolff Realtors