Have you thought about buying fixer upper homes in Northern Virginia and then flipping them for profit? With such an active real estate market, Northern Virginia is a great area for pursuing this real estate investment strategy.
Fixer Upper Homes - Developing a Strategy
One of the most important things to focus on as you consider investing in fixer upper homes is your goal with regard to a return on your investment. After the 2008 financial crises, it was fairly common to make a 20% plus return on your investment in Northern Virginia, even with properties at cheaper price points.
Over the last few years, the real estate market has been doing very well, which means that it’s it’s not always easy to make a large return on your investment at lower price points for quick flips. For instance, I helped a cash investor who wanted to stay around $300,000-$350,000, but wanted to make an $80,000-$100,000 return. That’s just not realistic out here anymore. At that price point, you’d be fortunate to make a 10% return after your expenses. When you get up into the higher price points, there is more potential for a bigger margin (i.e. 20%)…
Read Part 2 of my blog series on fixer upper homes
Email me at DarrenRobertsonHomes@gmail.com for a free list of the top 10 fixer upper homes in the Northern Virginia area of your choice.