For A Profit
House flipping is simple - buying a property with the intention of selling it for profit.
The logistics, however, can be complicated. There are a lot of decisions that need to be made from the very beginning. For example, if you buy a house in a particular area of Atlanta, you’re counting on the area continuing to increase in value. If everything goes well, you stand to make a profit.
However, if anything goes wrong — perhaps timing issues or poor budgeting — you might be stuck with a property that you can’t unload.
Once you’ve determined your location, you should decide what type of property to purchase. If you purchase a fixer-upper, you’ll have to commit to renovate the home, and that takes both time and money.
Alternatively, if you choose to purchase a foreclosed property, you might get a bargain on an underpriced house, but you have to remember that if the previous occupants weren’t able to pay the mortgage, they most likely couldn’t afford repairs or maintenance, either.
Even after all that work, house flipping is ultimately dependent on the real estate market in Atlanta, which is cyclical.
During a boom, house flippers have leverage and can get top dollar in some areas. In slower periods, some of these renovated homes can sit for months on the market.
That’s why you need the expertise of Figur Construction. We are here to help you navigate through the complexities of house flipping. Lowell is recognized as one of Atlanta’s premier house flippers, with years of experience in purchasing, renovating, and selling properties for profit.