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Five Factors to Consider when Flipping Houses

 
Today’s reality television shows make flipping homes look glamorous because in many cases, the shows’ hosts are able to turn a significant profit in a short period of time. This has made flipping (buying a home with the intention of turning a profit) an increasingly popular property investment strategy among Canadians. 
The inability to fund a project in the time it takes to renovate (fix) and sell (flip) is one of the most common reasons flipping a home fails. This makes fixing-and-flipping a risky investment. For this reason, it’s important to consider a number of factors before purchasing a house to flip. Otherwise, your profit can quickly turn into a shortfall. 
This blog post will examine five of the top factors that most commonly turn a flip into a flop.
1. The buyers
Knowing who you’re renovating a property for can go a long way in selling quickly for your desired asking price.
Ask yourself:
Are you selling the property to another investor? If so, a 5,000 square foot waterfront property might not be the best decision.  Is your target buyer a single professional or a young couple? If so, what types of properties are they looking for and ... more

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