As flipping rates increased, investors' fortunes improved, with the latest data showing a 30.2% gross profit nationwide before expenses for home flippers.
RFG is here to partner with you when you launch your fix-to-flip or fix-to-rent project, enabling you to proceed with confidence. We have competitive financing rates and afford you many other advantages, almost guaranteeing you will get the best return on investment possible for your hard work. Read this week’s series of articles, which we cull from online sources to help focus your energies, as they should prove enlightening.
Fittingly, the Home-Flipping Market Is Hot This Summer
ATTOM’s headline says it all in a nutshell, proclaiming that home-flipping activity and profits both rose across the U.S. in Q1 2024. Recently, ATTOM “released its first-quarter 2024 U.S.
Home Flipping Report showing that 67,817 single-family homes and condominiums in the United States were flipped in the first quarter. Those transactions represented 8.7 percent, or one of every 12 home sales nationwide, during the months running from January through March of 2024…the second straight quarterly gain.” And, according to the article, “as flipping rates went up, fortunes kept improving for investors who buy and quickly resell homes. The latest data showed that home flippers typically earned a 30.2 percent gross profit nationwide before expenses on homes sold during the first quarter of this year.” So what are you waiting for? The time is now to find your next project(s)! Check out the entire must-read article, as it is jam-packed with data about profit trends, average days to flip, and more.
10 Cities Generating a Solid ROI on Renovated Fixer-Uppers
Of course, these return-on-investment success rates can be further parsed. In this piece published by GoBankingRates,
“Frontdoor found the most profitable major cities to buy a fixer-upper by analyzing the median size and price of homes listed as a ‘fixer-upper’ on Zillow and then using Kukun’s home remodeling cost estimator to find the likely cost, added value and profit margin of renovating.” Are you able to make a commitment to a fix-to-flip or fix-to-rent initiative in or near any of the 10 outlined here?
Remember, though: when it comes to return on investment and resales of properties, not all investments can be treated equally. The Mecklenburg Times has published a roundup of the best home improvements to increase the value of a home, categorizing/ranking them according to high, moderate, lower but valuable, and luxury with lower ROI. It would be wise to peruse this article as you are deciding where to spend your reno dollars; click the link below to do so.
All signs indicate you can expect a quick and profitable reception of your fix-and-flip or fix-to-rent property, especially if you heed the guidance on where to spend your energies, which means now is an opportune time to pursue your first — or next — investment opportunity. Once you have secured a property, contact the professionals at RFG, who will walk you through our competitive financing packages, which include the 100% Fix-and-Flip Premier Loan and a Ground Up Construction Loan (with no LTC cap). You can also hear details about a number of ways RFG can help you keep more money in your pocket, such as by taking advantage of our exclusive partnership with HD Supply that allows you to save thousands of dollars on the supplies you need for your project, throughout your project.
RFG in Action
100% Premier Loans from RFG cover all renovation costs. NO DOWN PAYMENT NEEDED!
Demery found a promising fix-to-flip project in a three-story twin home in Harrisburg, that was nearing foreclosure. Despite some unfinished updates and extensive wallpaper, the house had good bones with hardwood floors, a clawfoot bathtub, and a clay tile roof. After her offer was accepted, a $10K roof repair was needed, but her detailed budget included a contingency margin. She proceeded with the rehab and earned a $45K profit.
Tip of the Week We are excited to share the tip of the week where we will share helpful tips and information on how you can be more efficient, productive and keep more cash in your pocket.
Quality Over Quantity:
Focus on high-impact renovations that add significant value to the property, such as kitchen and bathroom upgrades, while avoiding unnecessary or overly expensive changes that won't yield a good return on investment.
Is your short-term loan about to end or mature in the next 90 days? Convert it into a long-term investment loan with ease. Click hereto learn how to secure a 30-year financing option that fits your needs perfectly. Let’s turn your property into a lasting investment!
