4 Benefits Of House Flipping

Be Your Own Boss

As many found out during the COVID-19 lockdowns, being your own boss and working from home has its benefits. You choose how hard or how long you have to work! Whether you’re scouting for distressed properties or fixer-uppers, you’ll know your area (and its real estate market) better than someone who’s from out of town. Been working hard for weeks and want to take some time off? ‘You’re the boss.’

Anyone who’s struggled with workplace politics or fitting in with a company’s corporate culture can understand how working for yourself might be a good thing. Want to take on a big project? No one’s stopping you. Want to change how much you spend on workplace health insurance, or how you invest your profits? If you’re flipping houses instead of (or as a complement to) a traditional job, the flexibility of being your own boss comes with the territory.

Real Estate Has Historically Been A Safe Investment

If you’re interested in flipping properties, the basic intention is to buy and sell a property in less than six months or a year. Now, a lot of financial-products salespeople would advocate investing in stocks or cryptocurrencies instead. But with properties, there’s no chance you will wake up one day and 40% of your property is gone. If the market in your area is strong, unlike with many financial instruments this situation isn’t likely to change in weeks or days. 

Even if the real estate market in your area experiences a downswing, you can always revert from flipping into more of a buy-and-hold strategy. At the end of the day, you’re investing in brick-and-mortar assets that you can rent out or live in yourself. One can’t rent out Bitcoin or live in a stock portfolio! Nothing is ever 100 percent secure, but real estate has proven to be a safe investment compared to many other asset classes.

 

Personal Growth

The more you get involved with investing in properties, the more you learn. This knowledge can then be applied to your next flip. When you scout a property, you’ll know how long it might take to renovate a bathroom or how long it will take to secure a building permit in that area. The same applies with the process of finding distressed properties through auctions and foreclosures; the more you know about the process, the better. As you gain experience, your satisfaction will grow along with your bank account.

When you rehab an old house, you’re improving a neighborhood! You’re creating a new place for a person or a family to call home. Finding ‘diamonds in the rough’ can be a fun process.

Profit

This one might be the most obvious, but it’s at the end for a reason! Housing markets aren’t as fickle as the S&P 500 or the price of a cryptocurrency your cousin just bought a bunch of. Many urban areas and population centers in the U.S.A. are also real estate hotbeds, some of which are so strong that they even withstand periods of economic hardship happening in other areas. Flipping is your way of capitalizing on living in and knowing about these areas. 

There aren’t many other business or investment opportunities that can offer tens of thousands of dollars in profit for only months’ worth of work. But flipping properties is one of them. If you put in the work, the rewards of this work can be substantial. And financing your dreams is easier than you think!

 

WHO IS FULTON GRACE?

We are one of Chicago’s leading providers of comprehensive real estate services. We are home to an ever-growing team of savvy & reputable local realtors, seasoned property managers, and customer-service-oriented staff. Whether you’re looking to find a new home, sell your home, or have your property managed, let us be your trusted real estate advisors.

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