Luxury Real Estate Flippers: Renovating High-End Properties For Profit

Here’s a tip for those of you asking where the opportunities are today…

Some of the best deals are still in hardest hit areas in FLA, AZ, CA, NV, but they’re found in higher priced homes. Unlike lower end “flips” where investors are often out bidding each other due to low inventory, there’s a lot less bidding competition in the higher end of these markets. And, unlike lower end “flips,” these homes can also be used as your own get away until they sell or, if you time it right, can be managed as vacations rentals, bringing in thousands of dollars a day during vacation season. End buyers who are interested in these homes as second, third, sometimes fourth home tend to be less price-sensitive, and are more often than not looking for a fresh, turn-key product, so returns can be as high as 30 or 40% in less than 6 months.

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http://online.wsj.com/article/SB1000142412788732389350457855750076923498...

Shari Olefson's picture
Shari Olefson

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