Home prices are rising in some Midwest markets and available inventory is scarce, but real estate experts say it's still possible for smart investors to make a profit in the area by fixing up and reselling or renovating and renting out. Madison, Wisconsin saw an increase in home resales in the first quarter of 2018. Pixabay But turning real estate into a profit is much harder than the renovation and resale TV shows make it seem — and those same shows are watched by hopeful homebuyers, says J. Scott Seale, founder and CEO of Commercial Academy, which offers coaching and…
Author: Private Lending Agent
Lin He made a $400,000 profit from flipping a single home earlier this year. The 3,600-square-foot Malibu home was in foreclosure and on the market for $1.39 million, and he bought it in 2017 for $985,000 but never moved inside. “Oh man, it was bad. It was a lot worse than I thought it would be,” he said. The renovation took three months and cost about $300,000, plus a host of other expenses, like taxes, staging, and real estate agent fees. But it was worth it. He put the house on the market for $1.97 million, exactly double the purchase…
tv set”Flip or Flop” is returning for Season 7. Here's everything we know about the new season and what Christina and Tarek El Moussa's life is like post-split. Released on May 31, 2018 “Flip or Flop” is returning soon, and it should be an interesting season considering the couple's separation was very public and dramatic, with Christina and Tarek El Moussa now having moved on and spoken publicly about it. The mother-of-two has been supported by her children. “I've relied on them. They give me happiness,” she told People magazine. She also maintained that she remains friends with Tarek. “We…
Magnolia Real EstateLocated at 10015 Sandalwood Drive in Woodway, just outside Waco, Texas, the three-bedroom, two-bathroom property boasts beautiful details that were “hand-picked” by Joanna herself.Magnolia Real EstateHello subway tile and brass fixtures!Magnolia Real EstateYou've watched Joe master the breakfast nook on the HGTV series, and now it's your chance to own the designer's dream breakfast nook.ADVERTISEMENT – CONTINUE READING BELOWMagnolia Real EstateMagnolia Real EstateThe eating area is complete with open shelving (obviously).Magnolia Real EstateOf course, the living room has a concrete fireplace and vaulted ceilings with wood beams.ADVERTISEMENT – CONTINUE READING BELOWMagnolia Real EstateThese bar stools are perfect for…
When it comes to flipping a home, what state you live in can make a big difference in your profits. If you live on the East Coast, like Maryland, you may be able to make more profit. On the other hand, if you live west of the Mississippi River, it may be harder to actually make a profit since properties tend to stay on the market longer. To find the best and worst states to flip a home, GOBankingRates analyzed data from real estate site Zillow and real estate data warehouse ATTOM in four main categories: average listing price of…
If you like risky adventures, you'll love this one.El Segundo-based Aperture Real Estate Ventures has launched a cryptocurrency initial coin offering (ICO) with the goal of raising $50 million for investment in its home flipping business.The currency, called Property Coin, which launched on Tuesday, will be invested in by “skilled professionals” with the help of a suite of analytical tools developed by the company, the company said. The idea is that investors can leave the already risky minutiae of property flipping and investing to Aperture and focus instead on the value of the coin.Co-CEO Andrew Jewett has sought to downplay…
Real estate speculators fueled the 2007-2009 recession with a wave of mortgage defaults, and are now plundering New York again just like in 2006. Speculators, who buy homes below market price and resell them within a year (often at a significant markup), purchased more than 2,000 one- to four-family homes in New York City in 2017, a trend that has been steadily increasing since 2011 and shows no signs of slowing. In a new report published exclusively by The Washington Post, the New York City Neighborhood Center examines the consequences of unchecked home flipping in a city already in the…
Tina Tyus bought her first home on a credit card without even seeing it in person. “It wasn't just a credit card. It was my card and my husband's card. If you gave it to me, I would have used it,” said Tyus, a Hoover resident and real estate agent. That was 31 years ago, when she bought the house at auction for $10,000. “It ended up being a really good, really smart investment for me,” Tyus said, “but I wouldn't recommend anyone do it.” She says that after a few years of investing and flipping houses, she learned the…
A team of contractors works on the renovation of a home in Phoenix. A decade after the U.S. housing crisis, some old habits are back, including house flipping. Caitlin O’Hara for NPR hide caption toggle caption Caitlin O’Hara for NPR A team of contractors works on the renovation of a home in Phoenix. A decade after the U.S. housing crisis, some old habits are back, including house flipping. Caitlin O’Hara for NPR Amid saguaro cactuses and yucca plants, Lauren Rosin shows off a house that she’s renovating in Phoenix’s Central Corridor, a pricy neighborhood north of downtown. “This was actually…
Shares of Zillow, the online real estate database company, plunged 9 percent on Friday after the company said it would begin buying and selling homes, a capital-intensive business.Zillow's new program, announced Thursday, will allow home sellers in its test markets of Phoenix and Las Vegas to use Zillow's platform to compare offers from Zillow with those from potential buyers. Once Zillow buys a home, it aims to flip it quickly by making updates and repairs and putting it on the market as quickly as possible. An agent will represent Zillow in each transaction.”We're entering this market and we think we…