Orlando Flip or Hold Article 1.
Follow us as we work through the process of purchasing another property to update-remodel-rent or flip in Orlando, Florida.
In our house, evening TV consists of one of the HGTV or DIY flipping shows. Love It OR List It, Fixer Upper, Las Vegas Flip and Flip or Flop are some of the favorites. Since time is of the essence, none of the programs delve into process details. First time flippers and investors only see the house hunting portion, not the steps leading to that point.
We have decided to purchase another property, but we aren't sure if it will be flipped or held. Ultimately, whatever we decide will be determined by the following:
- how much money will we need to spend, up front, to purchase something
- what will it cost to improve the property
- will the rental option produce a decent return
- does the area project strong, long term appreciation
- will we see a decent return if we sell...in other words, will we make money
Here is our business plan:
- budget is $150,000
- search popular & up and coming neighborhoods near Orlando, FL
- using MLS data, property projections following improvements must show appreciation
- property must support strong rental income since we want the option to hold or flip
- can we do most of the work ourselves
Questions? Ask me! Call/text 407-595-4841 OR email OrlandoHomesUSA@gmail.com