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4 Dangers In Flipping Real Estate
If you have recently purchased some real estate for investment purposes, you are in good company. Recent reports suggest that as many as 25% of these purchases are made by those who plan on using the property for investment purposes only. If you hope to "flip" the property there are 4 things you must be aware of that can put a crimp on your profits.
 
<b>1. Property Taxes.</b> Keep the property for a few years and you may experience a surge in property taxes especially if your taxes are reevaluated during that time. Some hot real estate markets have seen taxes nearly double in just 5 or 6 years.
 
<b>2. Renovation Expenses.</b> You may have purchased a "fixer upper" at a bargain rate. Once your project is complete will you be able to recover the expenses and make a profit especially if the value of your renovated property is above those in your neighborhood? In addition, can you withstand a correction in real estate values?
 
<b>3. Insurance and Mortgage  Costs.</b> You will pay more for homeowners insurance if you do not occupy the residence and you have tenants. If you are financing the property you know that your ... more

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