Flipping Houses in Southern Maryland
Flipping houses, can you really make money with it? I am not an expert on doing it but I confess that I’m attempted to do it! I love the HGTV show flip or Flop, where the realtor Tarek and his wife Christina buy, renovate and sell houses in CA.
California market is totally different from our local Southern MD market. To make profit with flipping houses in Southern MD it will all depend on how smart is your house buy, how well you know the local buyers/market and having a great team of contractors on your side. I don’t see it only as a “profit maker”. In my opinion, what the investors are doing is improving the neighborhood and adding value to it, transforming a distressed abandon property in a nice home.
This house on the picture below, located in Calvert county, was sold for $115k on auction terms and after renovated it was sold for $210,000!
If you are thinking on investing on “house flipping” make sure to have a Real Estate agent working with you. She/he will be able to pull out the comparables, recent sold homes in that subdivision, the competition, etc.
Good luck and Happy Flipping!
Disclosure: This home was my listing one time, but I wasn't involved on this transaction. It is just a ilustrated example.
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