Confused between flipping real estate or holding in? perhaps this blog post is all that you need to read. We give you 4 major benefits of flipping vs. holding in Palm Beach…
Before you invest in real estate, its better to weigh the options you have and consider your niche. There’s wholesaling, renting or flipping available as options along with many other choices. If however, you’re thinking about flipping in Palm Beach County then here are 4 benefits that you ought to know about.
The most basic advantage of flipping as compared to holding is the fast turnover for income. Suppose you start with flipping on the first of the month, you keep on adding improvements throughout the days that follow and if all goes well you can be done with the sale of the property in just a few weeks or months to follow.
This is an ideal situation because you have to bear the added cost of maintenance and upkeep if you choose to hold properties for a long time. Flipping real estate gets you good return on your income real quick.
Flipping houses mean no nosy tenants to deal with. Usually investors who hold property rent it out to tenants and then face a long string of problems. If you choose flipping, then you’re dealing with renovations and decorations only and there’s nothing going out of your control. And yes, no damage to the property as well.
Flipping real estate gives you the freedom of controlling your selling price as compared to holding the property and renting it out. Do you know a lot of states are rent-controlled? And a number of tenants aren’t willing to pay the rent you ask. So yes, flipping houses enable you to add value to the real estate and then influence the asking price as you see fit. Its all up to you. The more value you add, the more price you can ask for.
Holding real estate while renting in out gives you a steady cash flow every month, but that’s just a couple of hundred dollars. You can do much better by choosing to flip real estate. Buy low, invest in flipping the property and sell it as per the value additions you’ve done. That’s one big pop of income when you choose to sell your flipped real estate. And this certainly isn’t possible while renting your property no matter how many thousands of dollars you spend.
If you aren’t certain about holding a property or investing in flipping, this blog post is all you need to read. We give you 4 top advantages of flipping and help you finalize it as your serious choice.
We buy properties to flip. If you’re looking for investing in flipping, let us know and we’ll see how we can help you best. Just click here and enter your information or call us at (561) 370-8335 right away.