"SPRING HILL, Tenn. – July 13, 2016 – The real estate market will always have its ups and downs, but real estate is an often-profitable investment. Real estate investors do their investing for various reasons. Some see a house as a place to hang their hats for years and years, while others look at properties as nothing more than investments.
Buying a home with the intent to fix it up and resell it is called a "fix and flip." In such situations, investors buy homes at below-market prices before refurbishing the homes with the goal of recouping their initial investment and then some when the homes are ultimately put back on the market. Flipping has become popular for both expert remodelers and novice investors.
RealtyTrac, the nation's leading source for comprehensive housing data, noted in its "Year-End and Q4 2015 U.S. Home Flipping" report that 5.5 percent of all single family home and condo sales during the year were flipped properties. This marked an increase from the same time the previous year.
Investing in a fixer-upper requires a leap of faith and a vision of what the home can look like in the future. Turning a real estate lemon into lemonade requires certain skills and a good measure of patience. The following are some guidelines to get anyone started.
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Andrea Proeber is now a Broker Associate! She has been a Realtor in Marion County for over a decade and specializes in long term real estate investing and property management.