New to BP… planning to start real estate investment soon.
Hey looking to make some flip/ rental investments in Triangle or nearby areas.
Great place to start your investment journey. I have some rock star Realtor connections out there if you need any recommendations. Enjoy!
@Neelam Khanna - I'm just now seeing this post. It was awesome to chat with you today! Glad you engaged with the great community here at BP and glad we were able to get connected!
Thanks Cory. It was pleasure talking to you and thanks for so much info. Looking forward to work with you.
Hey Neelam,
Welcome! You're in the right place for RE investing. Reach out if you have any questions on getting started.
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#1 New Member Introductions Contributor
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Hey @Neelam Khanna , Glad to have you aboard!
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Thank you. Looking forward to learn and scale up my real estate portfolio 😊
Thanks. Will sure.
Thanks Andrew.
Hi Neelam, it is great that you're ready to get started. The fix and flip strategy can be a profitable venture if you've done everything correctly. You may want to make sure that you follow these top 4 tips that I have:
1. Do your research - Before purchasing a property, make sure you conduct thorough research on the location, the property's condition, and the potential cost of repairs. This will help you make an informed decision on whether the property is a good investment.
2. Know your renovation budget - You don't wanna overdo or underdo a property. Focus on the right improvements that will add value to your property.
3. Know your after repair value - The goal of flipping is to make money so you have to make sure you're not covering your all-in cost and you're actually making a profit
4. Time your sale right - When the market is favorable and the demand for housing is increasing, that's the best time to do it. This can help you avoid having to list your property for too long. Hope this helps and best wishes to your real estate journey!
Thanks Steven. Looking forward to get rolling soon.