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.

How To Set Your Rental Price To Maximize Your Income And ROI

Here are the steps to set your rental price to maximize your income and return on investment:

Realtor Selling House to Couple Buying Home. Manager Male Character Make Deal with Owner of House Giving Key for New Living Place, Mortgage and Home Buying Concept. Cartoon People Vector Illustration

  • Check comparable rental listings in local newspapers and on Craigslist.  The goal would be to see what other landlords are charging for homes and apartments that match your property in terms of size and amenities.
  • Obtain the addresses for similar rental properties from rental listings or by calling the number on the ads.  Use that information to identify how a geographic area affect rental price.
  • Consider geographic factors such as proximity to shopping, golf courses, roads, parks and schools.  Renters may pay premium for properties in attractive settings.
  • Network with others who own and rent property and discuss with them the rental market and how much properties are renting for given the current economic conditions.
  • Use the information obtained to set a base price for your rent.  Figure in a slight increase if your property has features that are not common, in high demand or not available in the comparable properties.
  • You may need to lower the rent price if you receive few calls on advertised properties.  Or, you may need to increase the rent price if you receive many calls on advertised properties.

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