This Article Is About Turning A Profit Flipping Homes In Today’s Booming Housing Market
Real estate investors can be turning a profit flipping homes in today’s booming housing market. There are many pre-approved borrowers at Gustan Cho Associates who have been looking for homes for over one year. Due to the strong demand of homes and the housing shortage, home flippers can instantly have their homes under contract once it is listed. Many real estate investors with an inventory of rental single-family homes can make a great profit by renovating the rentals and putting them on the market. The housing market has been booming the past few years.
There is a major housing shortage in the United States. Homes selling over list price is becoming the norm. The historic low mortgage rates are motivating renters to get qualified for a mortgage and become homeowners. The coronavirus outbreak in 2020 has added fuel to the already hot housing market. Countless experts predicted the coronavirus outbreak in February 2020 will trigger another housing crash and credit crisis. However, that did not happen. The housing market just grew stronger than ever with the coronavirus pandemic. Millions of Americans were property flippers prior to the 2008 financial crisis. Real estate investors are seeing an opportunity in turning a profit flipping homes in today’s booming housing market is a no-brainer. Gustan Cho Associates is now offering dozens of non-QM and alternative mortgage programs for home flippers and real estate investors.
Companies Offering Employees Remote Job Positions Added Fuel To The Fire In The Housing Market
Many companies changed their business models to remote workers for a large percentage of their workforce due to the coronavirus pandemic. Remote workers do not have to report to a brick-and-mortar location and can live anywhere they want. Many wage earners who are now remote workers living in high taxed states with high home values such as California and New York are relocating to other parts of the U.S. with lower taxes and affordable housing. Tens of thousands of city dwellers are leaving cities and moving to the suburbs to purchase single-family homes. The Dow Jones Industrial Average is hovering at 35,000 which marks the highest level in history. However, there are still issues in the United States.
Today’s Economy And Housing Market
With Joe Biden and the Democrats in control, Americans do not feel comfortable with the state of the U.S. There is a lot of talk about Joe Biden and the democrats politicizing the coronavirus outbreak. Joe Biden and the democrat-controlled congress are strongly pushing for COVID-19 vaccine mandates at the workplace and public places. The country is strongly divided among the left and right. There is a lot of uncertainties in this country. Political unrest talks that Joe Biden has cheated to get elected to become President, out of control inflation, talks of the demise of the Federal Reserve Board, talks of increasing interest rates which means higher mortgage rates, and another Great Recession. Many investors are fearing a huge stock market crash and real estate meltdown worse than the 2008 financial crisis. However, the housing market is booming with no signs of correction insight. The housing market is expected to remain hot for the next several years. Historic low mortgage rates are expected to remain low in the years to come.
Is It Possible Turning A Profit Flipping Homes In Today’s Booming Housing Market
It is very difficult to get a great deal on a home due to the booming housing market for real estate flippers. House flippers need to be knowledgeable on renovation costs. Successful home flippers should have access to contractors who are reasonable, reliable, and dependable. To be successful in turning a profit flipping homes in today’s tight housing market, the investor needs to be price-conscious. This holds especially true because homes are very expensive. If you buy the home at the right price and manage your renovations where you get a lot of work done for the dollar, investors should be successful in turning a profit flipping homes in today’s booming housing market. Buying the house at the right price is key. Back in 2012 and 2013, house flippers could find many deals with the inventory of homes left vacant from foreclosures and/or short sales from the 2008 housing crash. Banks were offering homes at a discount. Property flippers could purchase homes from banks at a discount, invest a few dollars on renovations, and sell it with making a nice profit on the flip. Today, it is different. With the strong housing market and homes selling at a premium, property flippers need to have more cash and be creative in turning a profit flipping homes. Housing inventory for property flippers is at an all-time low. Property flippers need to be ready to encounter bidding wars due to housing demand. Even with low inventory, high demand for homes, and competition among real estate investors, property flippers can still make money in today’s competitive housing market.
The Secret Of Turning A Profit Flipping Homes In Today’s Competitive Housing Market
Turning a profit flipping homes in today’s competitive housing market is not like it used to be. House flippers cannot just buy a foreclosed home from a bank, slap a coat of paint, and sell it for top dollar. Only a third of the homes available nationwide are distressed home sales such as foreclosure and/or REO properties from a bank. And as years pass, the inventory of distressed or REO homes available becomes less and less. There are various types of property flippers. You got the mom-and-pop flippers and the bigger giant property flippers. The various types of property flippers will be competing on the same homes that are listed. Buyers of flips will range from investors who have financing in play as well to cash buyers with deep pockets. It is important for investors to price the home at the right price once the home is ready to get listed. The longer it is listed, the less profit to the property flipper. Time is key. Time is money. The sooner the investor can turn around and rehab the property the sooner it is able to get listed. However, many smaller entrepreneurs prefer to do the work themselves which takes longer.
Getting A Mortgage On Buying Investment Properties
Gustan Cho Associates are experts in helping property flippers get financing. Gustan Cho Associates has dozens of non-QM and alternative mortgage loan programs for property flippers and real estate investors. One of the popular loan programs we offer at Gustan Cho Associates is the fix and flip loan program. Gustan Cho Associates has dozens of investor mortgage loan programs. If you are interested in getting qualified for an investment property loan, please contact us at Gustan Cho Associates at 800-900-8569 or text us for a faster response. You can email us at gcho@gustancho.com. The team at Gustan Cho Associates is available 7 days a week, evenings, weekends, and holidays.
