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2018-08-07 How Pros Choose a Fix-and-Flip Property | By: Brad Beckett

How Pros Choose a Fix-and-Flip Property

Are you someone who has thought about investing in a rehab project?  A recent article over on AskaLender.com looks at the process of doing a fix-n-flip and explains the process of buying a fixer-upper, remodeling and/or renovating it and then selling it at a profit.  They rightly point out that “it’s important to know what you’re doing when taking on a fix-and-flip project. If you make a mistake, your profitable investment could turn into a costly money pit.”  Indeed….always do you due diligence before making any investment.

Key points:
  • Shoot for 70 percent of the after-repair value (ARV) minus cost of repairs.
  • Look for homes with good bones (i.e., a solid structure).
  • Choose newer homes for faster, less thorough flips.
  • Get all proper permits for repairs or additions.
  • When starting out, get a mentor to teach you the ropes.
Click here to read the full article on askalender.com.

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