Todays TV programming with its love of fixing and flipping is leading some down the wrong path. When any investor looks into doing a flip they need to look into more than the bland info that HGTV or TLC is providing for programing purposes. They belief that I hold firm to is that even if you sell wrong (don't get the price you want) it does not matter if you buy right (get properties at a deep discount). There are many other elements that are basic but are often not discussed on TV but please don not forget them.
- Carrying cost
- Brokers fee (appx. 5%)
- Other closing costs (ie) attorney, tax stamps, liens
- Permits
- Taxes
- Insurance (vacant houses cost more to insure)
These are things you must consider before you attempt to engage the exciting world of flipping homes. Part two how to choose you flip will be available on Friday October 26
JT Fleming & Company has great lists of fix and flip properties with unique financing options and equity sharing options. Please call to inquire at 781-239-3281
