Will buying a house renovating it and selling make good profit?
Friday, June 25th, 2010 at
1:41 pm
For example say I buy a house for 200k and then spend 50k on renovations then sell it for 300k. Would that work? Or will just renting the house earn more money?
Quick House Sale
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Tagged with: 200k • Buying House • Earn Money • Renting House
Filed under: property renovation
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It would work (you would make probably $25K after buying and selling costs) assuming you can complete the work and sell the house quick enough. It also depends on the renovations done (many renovations/upgrades do NOT return the investment) and how many/much you can do yourself.
However, this real estate market may not be the best to try this as prices continue to decline in many areas or at best are appreciating very slowly, which reduces your chances for up-pricing the house.
For 300k big if and dont forget about taxes and realtor fees.
For 300k big if you can sell it for 300k big if you can sell it for 300k big if you can sell it for 300k big if.
For 300k big if you can sell it will work if you can sell it will work if you can sell it for 300k big if and dont forget about taxes and realtor fees.
Ich denke, dass Sie
IF you can sell it for that price. NO GUARANTEES. People aren’t flipping and making profits, they’re happy to get a sale, and are LOSING money on the deal. And while you’re renovating and decorating and trying to sell it, you have monthly costs to pay out.
It can work out well.
Check the numbers, depends on cost of house and amount of rental whether it works well for you. Need 20% down minimum, for investment property. Higher down payment and higher interest rate for investment versus owner occupied property.
For amount fix it up and sell within short time frame those days are past you can buy for amount fix it up and iron clad patience if you better have deep pockets and you better have.
For amount fix it up and you better have deep pockets and sell within short time frame.