Are you interested in real estate fixer upper investments in the Northern Virginia area? Fixing and flipping properties is a great way to make money in real estate, but it carries some risk and requires property due diligence in order to maximize your chance of making a good profit. This blog series will give you some good strategies for minimizing your risk and maximizing your return.
What Type of Real Estate Fixer Upper Return on Investment is Realistic?
When the real estate market was bottoming out after the financial crises of 2008, it was a lot easier to make huge returns on a real estate fixer upper investment, even at lower price points. For instance, making a 20% return on a $400,000 or less property purchase was fairly common.
However, the Northern Virginia real estate market is now doing very well compared to a lot of other areas in the country, and it’s not always easy to make a large return on your real estate fixer upper investment at lower price points for quick flips. For instance, I got an email from an investor who wanted to stay around $300,000-$350,000, but wanted to make an $80,000-$100,000 return. That’s just not particularly common in this market anymore. At that price point, you’d be fortunate to make a 10% - 15% return after your expenses, and there are a lot of investors who are happily doing this multiple times per year for a nice profit.
Are you considering fixing and flipping Northern Virginia properties for profit? Call me at 703-492-0700 or email me at DarrenRobertsonHomes@gmail.com so I can help you find the right properties!