As a small balance real estate entrepreneur, we should always pay attention to factors that positively or negatively affect our bottom line. I am of the opinion that the people I choose to work with can have the biggest impact on a deal's profit or loss. No matter your experience level as a real estate entrepreneur, it is important to constantly be evaluating your team and the ways in which you can improve. I find it most helpful to hear from industry professionals about the issues they are dealing with. The following 3 websites have been instrumental in helping me to identify who the industry professionals are within my Southern California investment property market. These websites have allowed me to develop business relationships that are key to my real estate investment business.
According to California resident expert Ray Calnan, Assistant professor of Real Estate and Business Law at Cal State Northridge, on the website, WalletHub.com, when contemplating flipping a house:
As an experienced real estate investor, you understand the value of understanding your buyers. Without a firm grasp on their preferences, you're basically operating in the dark, which can lead to a lack of sales and stagnation in your investment portfolio. When considering California real estate, there are a wide variety of factors to consider, some not so obvious. One example of this involves attics and basements. More specifically, how important is having a finished attic or basement to California buyers? This may seem trivial or not applicable to the California real estate market, but it could be the deciding factor in a buyer choosing your property over someone else's, so it's important we examine this detail.
Investing in a run-down, abandoned home and fixing it up so that it can be sold for a profit is a popular way to get involved in the real estate industry. There are plenty of television shows that make it seem like a fast, easy way to make big money. While profits can certainly be made, you first should make the time and money investment to get there. Unless you have a large amount of cash lying around, you will most likely have to obtain a loan for the purchase and rehab. Here are some things you need to know before getting your first fix and flip loan.
When fixing and flipping a property, you must make every dollar count. It is crucial that renovations contribute to achieving a sizeable gross profit. To make successful renovations, determining whether you will rent or sell to families or singles is an important step. When flipping single-friendly dwellings, here are four factors worth your consideration.
The kitchen is the heart of the home for many families. Families gather there nightly for meals, it is often the center of many house parties, and may also serve as a place for children of all ages to do homework. As you flip your property focus on these three ways to add the most value to your kitchen. They are appealing to potential buyers with a keen eye and friendly to your bottom line.
You're interested in fixing and flipping as a career or a fun side project, but you have doubts. That's normal. Everyone starting a grand new business venture is nervous. If you're not nervous, you're not passionate, and passion is very important. There are ways to help you calm your nerves though and help give you that push to actually take the chance, trust yourself, and follow your dreams. One of the biggest fears is simply not knowing if you're ready or if you've got what it takes. Here are 3 habits of successful fix and flippers to help equip you with the knowledge you need to feel ready to take that next step.
Remodeling a property to fix and flip is a challenge on many levels. Perhaps the most challenging aspect, however, is determining what improvements to make to maximize the return on your investment. While you may think that the more you spend, the more you'll get out if it, this is not always the case. In fact, the average home improvement only carries a return of around 65 percent. That said, there are three improvements that usually cost a lot, but add little value when it comes time to sell.
When fixing and flipping there are a lot of things to consider. You want to buy the right house and make the right changes, but how do you know what's right and what's not? One of the biggest ways to determine if a house, or an upgrade, is right for you during your current fix and flip is to ask yourself who you're trying to appeal to? It's important to know who you're selling to in order to make the house a perfect choice for someone who fits into your target audience. If you're selling to families, here are 4 ways to appeal to families with your fix and flip.
Investing in real estate is a time-consuming process that requires a lot of effort on your part. It's worth it if you do it right but in order to make a successful profit from real estate you need some assistance. A smart investor uses every tool available that will help make success more attainable. There are several good investment tools that can help, but here are a few of the top 2016 real estate investing tools for California hard money borrowers.