FLIPPING HOUSES – CALGARY AB
“Flipping” a house consists of buying a run-down property below market price, fixing it up to increase its value, and rapidly re-selling it to make a profit. If you do things properly, you can make $50,000 or more per flip in less than 90 days and build financial success by investing in where you live.
Understanding the risk:
Flipping houses can be scary for first timers. After acquiring a mortgage and spending a large amount of money (possibly incurring debt) sometimes the payoff doesn’t materialize, or it doesn’t happen as quickly as you’d liked. Also, if you’ve never done renovations before, it can be a steep learning curve and the less you know, the longer it’ll take to flip the house. If things don’t go the way you planned, you could be sitting on a property longer than expected and/or spend extra on problems you didn’t foresee. The amount of work and effort required may be more than you bargained for and/or you could end up selling the home for less than you bought it for. Often you find yourself at the mercy of an unsteady housing market.
Although flipping houses is never guaranteed, my experience and expertise can take away some of the stress by helping you through the entire process. Having personally and successfully flipped houses for more than 15 years, I understand the steps involved when flipping or buying a rental property. I can show you how to look for the proper flip home along with educating you on how the real estate market works, what constitutes a good and a bad deal, and how to anticipate future growth or contraction.
Looking for help?
As a full time Licensed Realtor and General Contractor here in Calgary, I assist my clients in searching for and buying houses to flip. With 15+ years experience flipping and selling houses in the YYC area, I can guide you through the entire process of finding a fix with substantial profit potential, flipping your investment property, and selling your flip both quickly and easily.
As a real estate agent, I can help you with:
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- Finding a low cost house in a good neighborhood for resale in the current market.
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- Providing you with comparables to show you what the “after repair” value will be for that home.
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- Outlining your ideal buying and selling scenario, while also showing you what to expect realistically.
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- Placing an offer, negotiating the purchase of the home, and offering legally-binding sale contracts for peace of mind.
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- Getting a mortgage with the best interest rates for selling the home quickly.
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- Setting up home inspections, removing conditions, and taking possession of the home.
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- Explaining both the risks and the potential of flipping a home, as well as the current market and offering tips to lower those risks.
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- Staging (if preferred) and marketing the home with maximum exposure to attract buyers.
- Listing the property for a price that will sell quickly.
As a general contractor/red seal journeyman carpenter, I can help you with:
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- Obtaining the right building permits.
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- Budgeting your money and making a time-line for repairs and improvements.
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- Deciding the most cost effective renovations to make, along with when and where to cut costs.
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- Deciding what you can do yourself and finding/getting bids from the RIGHT contractors to fix and renovate the rest.
- Staying alert to problems as they arise and getting progress reports on what is or is not yet completed so you can finish your project on time.
When to Invest:
The housing market is like the stock market with periods of high and low demand, growth and contraction. The difference is that the housing market can take many more years than the stock market to switch from one cycle to another.
When the real estate market is in low demand and everyone is trying to liquidate homes, housing prices will fall and profit margins will fall along with them. This is a challenging time to buy an investment property and make a profit. It is best to wait until the market has turned back around and more people are trying to buy than sell. This will create better conditions for you to invest.
Remember: the key to a good “flip” is finding a deal that is RIGHT for you. I know what to look for, can give you tips, and help you find that deal. I can help you be selective on what you purchase while finding a home in the right price range that can be substantially improved with the least amount of time and resources.
CLICK HERE TO SEARCH FOR POTENTIAL CALGARY “FLIP” OPPORTUNITIES NOW!
If you are interested in investing, finding and flipping a property, please don’t hesitate to contact me. I will answer any questions you have with absolutely no obligation!
Jayson Shmyrko CIR Realty | P: 403-862-2427 | E: jshmyrko@cirrealty.ca.