Are you looking to flip houses in Birmingham? Take it from us, it’s not as easy as it seems. Flipping houses is something that television and infomercials have made look easy.
It’s the art of buying a home for below-market value and after renovations, selling it for a staggering profit.
We’d all like to be the kind of high-flying real estate tycoons that can pluck up downtrodden properties and turn them into jewels that sell for 20-50% ROI.
But, in reality, if you want to flip houses in Birmingham, it is significantly harder than it appears on television.
And with today’s recovering real estate market, a lot of people have gotten in on the game, making the house flipping arena extraordinarily competitive.
Now, the best deals go quickly and even solid properties with house-flipping potential are becoming harder to find.
You also need substantial cash reserves to get into the business if you don’t plan on taking out mortgages.
Fortunately, there are other ways to profit from the real estate market. These other ways don’t entail the crazy world of high-stakes house flipping. You don’t have to risk as much as if you were to flip houses in Birmingham.
Demand for house rentals has been higher over the past few years than ever before. Each home that you turn into a rental house can turn into a steady stream of income. Your tenants not only delivers profit, but also steadily pays down the mortgage on your properties.
Of course, being a landlord is hard work in and of itself, and arguably takes as much effort than flipping houses.
There is less risk with being a landlord. Especially if you turn to a property management company to handle the administration and day-to-day burdens of running your real estate empire.
If you want to pursue the path of turning rental properties into income instead of flip houses in Birmingham, give us a call. We would love to speak with you about property management.