August 30, 2014
Flipping property is big business, but it’s getting harder and harder to get in the market simply because everyone is getting in trying to make a quick buck or land a great deal and “get rich quick flipping property in the Midwestâ€, it also doesn’t help the fact that the market keeps fluctuating, but the generally consistent steep growth incline is making investors flock to the markets much like the early prospectors flocked to California in the days of the Great Gold Rush.
Midwest is a hot market when it comes to Foreclosure property according to a recent article by MSN real estate. Â Lucas County, Ohio and Allen County, Indiana had the largest number of couple owned homes going at a median rate of about 100 K, for upwards of a 1000 Sq Ft of real estate.
Flipping is to foreclosure as Peanut Butter is to jelly, you have one you can do the other, dish out some Bread ( the green Kind ) and make a decent Sandwich. Considering so many houses are up for grabs makes the Midwest an ideal market to invest in at the moment and spot the better deals lying around.
So the question rises, how do you know if you are ready for flipping property?
Do you have the Following?
- A Stable Job
- Time to manage your Flip Project?
- Basic Knowledge of Current Market Trends in real estate?
- LA nice little home that you’ve seen that you know is a real “Fixer Upper�
If you answered Yes to at least 3 of the 4 Questions means you can get in the flipping game.
Yes there is a lot of competition, but the market is hardly saturated yet to create too much of a barrier for sales
Yes most of the people who are working in the market are real sharks when it comes to getting homes and selling them for amazing rates, but there’s place for the Average Joe too to make an honest buck.
Yes the big companies advertise a lot and have big marketing budgets, but there are still opportunities to connect with real buyers through property listings as well as through referral based marketing to your own personal contacts.
Considering all the above facts, if you live in the Midwest, yes it’s a good opportunity for you to enter the market and invest in the Property Flipping business.
There are Risks associated with all businesses but if you stop and think about it, Real Estate is always the Last Sound Investment, property rates according to trends are consistently rising, market forces are aligned favorably, and the market is ripe for good deals.
Real estate business is technically a sure game if you know how to crunch the numbers, it’s safer than the stock exchange in fact, on an average every person who invested in flipping property in the last year
has earned at least a 10 to 30 % profit over their investment, and that includes the professional deal makers and the average joe’s alike.
If you are still interested in learning more about how to flip distressed property for sale or details about how to spot a good distressed property to flip, check out some of the links here