2nd Chance Investment Group LLC- A Closer Look
Okay, the real estate market has gone down and a quick rebound is not likely, or possible. Homeowners are finding viable options to continue to make money in the real estate market despite the recent changes. By adapting to the environment, savvy real estate investors are still flipping home properties with a twist. They are purchasing lower cost single family houses in areas of great potential and updating them. However, rather than putting them on the market for sale right away, these flippers are becoming landlords, renting the property to keep building equity and pay the mortgages.
How long are these new landlords renting their flipped houses for? On average, the versatile businesses are renting as long as five years or as short as only two until they can find a home buyer. They are keeping the cash from the rented properties in the short term, but are banking on the idea that an improved real estate market in the future will help them get the profits they are aiming for years down the road. Of course, this type of stalled profitability attracts a limited number of former flippers, but it is an increasing option for home buyers investors.2nd Chance Investment Group LLC
One of the keys to success with the flip and rent strategy is to avoiding subdivisions. Typically, the targeted houses are no more than $80,000 to $90,000 and will be victims of a crashing real estate market whose values were vastly higher even a year ago. These homes need upgrades and improvements that many future homeowners shy away from. By improving these houses and then renting them, these flipping home buyer investors are actually playing a role in improving the market by rescuing and improving homes whose needed changes might have been outside the scope of many property owners. Neighborhoods might have suffered with these eyesores in the past, but they are now able to enjoy an improved property in their surroundings, thanks to the flippers.
Many of the houses that are chosen for these investment and rental properties are selected if they fit a particular set of requirements. For example, many of these homes are victim of the boom and bust cycle of the recent housing market. Their overestimated home value has wrecked havoc on the market and neighborhood in general, so this financial investment can be a great choice for both the individual investor and neighborhood alike. Also, there are specific location, price and physical criteria that many investing business will choose before they will purchase the soon to be rental property.
To find many of the houses these real estate investors purchase they use companies who provide real estate leads. The real estate leads consist of contact information from how owners who want or need to sell their house. Many of the home owners who ask to be contacted by a real estate professional are motivated to sell their home quickly.
This smart investment plan can be a great way to improve neighborhoods and allow individual investors to gain capital and long term equity in a stalled and shaky real estate market. Although typically known as risk takers, these particular flipping companies are making long term, calculated investments that should pay off in the future.
If you are a home owner and are in a financial situation and thinking how can I sell my house fast, a good place to receive an offer on your house is your local home buyer or investor. There are real estate investors in every major real estate market who purchase homes quickly from home owners who need to sell. Many of the homes are in foreclosure, the owners are transferring out of the area, or the owners just need to move quickly.