Property Flipping Flagstaff AZ

One of the hottest money making ideas in the U.S. today is property flipping for profit. Basically, the objective is to buy a property, fix it up and sell for a profit as quickly as possible. The big challenge is to purchase a house for an affordable price, spend a budgeted amount of money to fix it up to maximize attractiveness, and then place it on the market at a price that will allow you to make a profit. Some of the bigger mistakes people make are not accounting for certain expense items and other assumptions.

Re/Max Peak Properties
(928) 214-7325
717 Riordan Rd
Flagstaff, AZ
 
Scott's Appraisal Service
(928) 774-0551
9931 Legacy Ln
Flagstaff, AZ

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Associates Unlimited
(928) 526-2121
24 W Route 66
Flagstaff, AZ

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Tierra Antigua Realty-Joel Garcia & Victoria Falcone-Camey
(520) 312-3064
1650 E. River Rd
Tucson, AZ

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Robert J. Israel
(928) 273-2420
Steve Collins Realty & Property Mgmt. 9 Brookside Blvd.
Prescott, AZ

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Ron Gantz Realty
(928) 606-1913
2281 Ricke Lane
Flagstaff, AZ
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Ginsberg Group
(928) 220-5012
1120 W University Ave Ste 200
Flagstaff, AZ

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Provident Partners Realty
(928) 286-9171
17680 S Munds Ranch Rd
Munds Park, AZ

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Tucson EcoBroker
(520) 275-2030
1650 East River Road
Tucson, AZ

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Nicole Brule-Fisher, Realty Executives Southern Arizona
(520) 465-5770
6760 N. Oracle Road #101
Tucson, AZ

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Property Flipping

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One of the hottest money making ideas in the U.S. today is property flipping for profit. Basically, the objective is to buy a property, fix it up and sell for a profit as quickly as possible. The big challenge is to purchase a house for an affordable price, spend a budgeted amount of money to fix it up to maximize attractiveness, and then place it on the market at a price that will allow you to make a profit. Some of the bigger mistakes people make are not accounting for certain expense items and other assumptions. Things like:

    1. Assuming they are guaranteed a profit-this simply isn't true.

    2. Exceeding their budget for fix up- this is common, especially when people are excited about finding a property with potential and look past obvious problems in their excitement to "do a deal".

    3. Unforeseen problems that exist with the home they bought. All too often properties are "cosmetically" fixed up to hide bigger problems. If you are a buyer, look out! An uninformed buyer can find that they bought more trouble than they anticipated and actually lose money on a transaction.

    4. How long it will take to sell the property. Every month that goes by is an expense to a property investor. There are mortgage payments, insurance costs, utilities and other expenses. Plan on having those costs for an extended period. If you sell it faster, good for you! If not, at least you have accounted for the long sales cycle.

    5. Real estate commissions they often have to pay. These commissions and fees can often amount to 8% or more of the price of the home....

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