Jun 11, 2021

Flipping A Home - Beware

HDTV has many shows with personalities focused on flipping homes as investment income.  I would tell anyone thinking about doing it, Don't.  Unless you have the skills and plan to do a lot of the remodeling yourself, by the time you hire contractors and deal with all the unexpected expenses that will come up, the odds of making a lot of money are minimal.  Plus in this market, homes are selling for top dollar.  The chances of finding a bargain fixer upper that can be renovated for a profit just got harder.  

Let the professionals with deep pockets work on flipping homes for a living.  They better understand what they are getting themselves into.  And, we are only seeing the ones on TV that worked out for them.  My guess is that they lose money on some number of homes.   So, mind your own business.  

If you want to invest in a nice home in a good location that needs minimal work to make it a rental, that makes better sense.  At Paragon Home Resources, we work with people all over the country to sell and buy homes.  If you need help buying an investment property, just call Paragon.