Most people love flipping houses because of its capacity to generate income, and yet it holds true that the income earned from house flipping is not stable at best. Flipping houses is a high-risk investment strategy with adequate potential but also come with plausible drawbacks. Investors could wait for months or even years to begin seeing revenue after a single flip. To try and diminish these risks and create a more consistent income stream, an excellent way to do so is to include one or more rental homes to your flips? Rental properties are one of the most stable investment opportunities that are accessible to anyone, providing investors with long-term growth rarely matched by stocks or other retirement products.
The unrealistic perspective on what it truly takes when one does flipping houses can be attributed to the popularity of reality television about house flipping. Even though it is possible to purchase, remodel, and re-sell a residential property quickly and profitably, more often than not, there are challenges and unforeseen obstacles that must be resolved along the way.
For instance, houses that are under construction are the usual ones to be targeted by thieves and vandals as compared to the rest of the properties, crimes that cost the owner unnecessary expenses. Bad weather, burst pipes, and any number of other unforeseen events could end in pricey repairs that were not covered in the original budget. For this reason, house flippers need to be ready not only for when everything goes well but for the very real likelihood that something will go off track.
When it comes to flipping houses, even a best-case scenario flip entails several months of hard work. The time that it takes when flipping a house can be extensive, from finding a property to arranging financing, closing, remodeling, and finally listing the property for sale. All through this whole time – no matter how long it could take – the property is not generating an income since the only profit an investor realizes from a flip comes after the property has sold. Some investors can manage multiple house flips in a single year, wanting to generate more frequency and consistency of income. But more often, houses are flipped one at a time, making it hard to get ahead when that investment ultimately pays off.
Therefore, house flippers will greatly benefit from having more than one revenue stream. There are many opportunities in the real estate industry, but the one that offers the most stable income opportunities are residential rental properties. Buying and renovating rental homes is a process very similar to flipping houses, but there are a few distinct advantages. When buying a home to use as a rental, investors can enlist the help of a quality property management company to do a lot of the heavy lifting for them.
When property owners employ the services of Real Property Management Asset Solutions, they receive expert market assessments on all prospective and current rental properties, assuring that investors have truthful information on rental rates, market value, and so on. We also offer access to dependable home remodeling and repair experts, ensuring that any work done on the property is done well and correctly the first time. Finally, we market the property and lease it to quality tenants, providing investors with consistent rental income while they pursue other real estate activities.
When all of these advantages are combined, it is clear that hiring a property management company is not so much of further expenditure as it is a valuable asset on your real estate team. The professionals at Real Property Management Asset Solutions can make owning Davie rental properties one of the most accessible real estate investments you’ve ever made, freeing up your time to follow other facets of your real estate business. For more information, contact us online or call us at 954-889-5627.
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