Thinking of Flipping
Hey BP!
My mind has been on buy-and-hold for the past few months as I've been learning about real estate. The goal was to buy my first investment property by the end of the year.
But. After thinking about it, flipping seems to make more sense given 1) my situation, and 2) the market.
In looking to get more information about the process of flipping, I've got a few questions:
- How much time is required per week? Estimated between 1) remote time (phone calls, internet research for prices, materials, etc) and 2) on-location time (any time required to physically be at the property, in an agent's office, meeting contractors, etc)
- What does an average return look like? Is there a typical COCR (say 20%)? Or is it a typical flat return (say $20,000)?
- I was wondering, do you have to pay utilities (electric & water) for the home during the flip?
I work full time and would do RE part time, hence Question #1.
Buy and Hold seems to be all about percentages, but flipping sounds like a different mindset, hence Question #2.
Any and all answers are appreciated :)
Cheers,
André