The concept of buying a discounted or low cost property, investing a budgeted amount to increase value and sell it for profit is definitely attractive. Especially when you have shows like HGTV make flipping appear like an easy way to make money fast in real estate.
The truth is, there is money to be made in house flipping, however there are a lot of costs often both known and unknown associated so budget is key.
Another thing to consider is that flipping is a high-risk investment because there’s no guarantee you’ll make your money back.
Investors today are funding their investment properties in creative ways. Some are joining forces with friends or business partners to buy up properties in less-robust markets and holding them as long or short-term rentals. Others are investing with friends and fixing and flipping houses as a team or syndication.
As a tip, be mindful of how you hold title when engaging in multi -investor investments.
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