Is It Better To Hold Or Flip?

Flat design.

Here are some things you may need to consider before buying a home, fixing it up and then reselling:

Do you know from what year you can finance manufactured homes?

  • Do you know about the FHA 90 day rule?
  • What will the costs be to buy, renovate and sell the property?
  • Is it the right property?  Location?
  • What are the holding costs?
  • What are the repair costs?
  • What are tax implications like short term capital gains?
  • Should you do a 1031 exchange (swap of one investment property for another that allows capital gain taxes to be deferred)?

Once you have answered these questions, you can develop some goals.

Your next step would be to reach out to a real estate agent/broker.  They can help advise you on the best investments possible according to your goals, they can help you navigate through the real estate process, and they can provide resources for property managers, contractors, etc.

We do have a Building Financial Security Through Real Estate Free Consumer Guide available by texting 503-544-8800 or visiting nhpicketfence.com.