To Flip or Not To Flip
Tired of your day job? Need a side hustle? Isn’t everyone searching for a way to balance work and play? Some would say flipping houses is an opportunity to make big money and walk away with much more time for leisure. Could this be true?
I looked into this further and found some quick pros and cons that you may want to know before deciding to embark on your first flip experience.
- Potential to make a quick profit.
- New experience and opportunity for learning.
- Seeing your vision become a reality. A sense of accomplishment.
- Gain understanding of how to navigate unexpected costs and delays.
- Increased knowledge of overall aspects of construction such as cost of materials or plumbing and electrical repairs.
- Potential to lose money and requires some level of risk-taking.
- Unexpected, unbudgeted costs.
- Holding costs.
- Difficulty selling may cause financial burden.
- Higher taxes and losing your profit to taxes.
Heather Krueger specializes in helping first-time flippers with a seamless, positive transaction. Contact her today to get started!