How to Make Money Flipping Homes

Flipping homes in Central Florida has become a very lucrative enterprise. Real estate investors add value to a bargain property by performing a few choice home repairs. These repairs may include new bathroom tile, colorful landscaping adjustments, upgrade kitchen appliances, fresh carpet, and more. With a little time and a little capital, anyone can successfully flip a home in Central Florida. So if you're ready to tackle this profitable enterprise, then take a look at the following proven home-flipping methods:

•    PURCHASE, REPAIR, FLIP: The most popular home-flipping method is to purchase real estate that needs minor repairs, perform the repairs, which inflates the home value, and then put the home back on the market. It is very common for people to make around $25,000 from a single transaction using this method. If you decide to flip a home using this method, make sure not to underestimate how many repairs need to be performed and how much those repairs might cost. A thorough home inspection will help you evaluate any necessary repairs.

•    PURCHASE, REPAIR, RENT, SELL: Another home-flipping method is to purchase the home, perform the necessary repairs, and then hold on to the property until market conditions are more favorable. Meanwhile, find a renter. If possible, find a renter that expresses a desire to purchase the home after their lease is complete. Since this person ultimately plans on purchasing the home, they will want to keep the the property in tip-top condition. Although this method is more time consuming, it is typically more lucrative than a fast flip.

•    FAST FLIP: The third method is to purchase a home for sale in Central Florida and flip it immediately, without performing any repairs on the home. Less time and money will be spent fixing up the home. This method may work well in “hot” markets, such as beach communities and popular travel destinations.