Over the last month or so I’ve seen the market increase dramatically in all areas of Massachusetts. From the South Shore to Western Massachusetts, young first time home buyers are looking to buy while prices and interest rates are still at all time lows. In the downtown Boston area bidding wars for some luxury condominiums have actually started again and local Realtors are shocked at the amount of interest and traffic they’ve seen so far in this early season.
What does this mean for us? It means this is the ideal time for real estate investors in the market of “flipping” properties to buy a rundown house or multi-family located in an up and coming mid-level town that is attractive to young couples looking to buy their first home. Rehab the property over the next 30-60 days with economical and efficient finishes, lower your profit margins ever so slightly and list the house at a competitive price for a quick sale. There is no reason an investor experienced in flipping homes should not be able to sell 2-3 homes over the next 4 months if they are cognizant of the market, aware of who their target buyer is and make renovations to rehab properties that are simple, clean and cost-efficient.
Remember, buyers are smart these days and know the market well. From what I have heard they have been making extreme low initial offers so it is essential any investor knows his bottom line and his margins when deciding to invest in a rehab project. The days of lavish rehab projects are past and don’t make sense in this market due to Buyer’s wanting a “good deal” over a “dream home”. So make smart decisions, identify that perfect “flip” property and come to MassPrivateLending.Com to secure quick financing for your project. As always no prepayment penalties, so you can “turn and burn”, increase your profit margins and move on to the next project. Good Luck!
