Avoiding The Dangers Of Buying To Flip In An Overvalued Market
"Flipping may be simple, but it’s not necessarily easy. There are many ways that a buy-and-flip investor can be left with a loss at the end of the two transactions. For example, the price offered when purchasing the property is, of course, based on an estimate of what it will cost to renovate the house and the expected resale value. The key word there is “estimate.” If the flipper encounters issues that increase the cost of repairs, the net revenue from the flip can drop precipitously. These issues might include hidden damage or the unanticipated need to upgrade major systems like electrical or plumbing."
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