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Planning on Investing in Real Estate in 2018?
It’s been some time since the housing market crash of 2007 and 2008, and real estate professionals are enjoying the slow climb back to stable conditions. Home buyers, home sellers, and real estate investors all want to know what the coming year looks like so they can get the most out of their property. The housing market forecast for 2018 is looking up, so is this your time to start investing in real estate?
Want to Flip?
If you’re looking to flip a home to make a quick profit, now is a great time to get started while the prices of properties continue to rise. An average house flipping venture takes around three to six months to complete. Which means you have to find the right method and the means to improve a home so that it is appealing to home buyers.
Some reports have shown that the percentage of houses that were flipped in 2016 increased by 3 percent and the housing market forecast for 2018 doesn’t show any signs of this slowing down. With the price of homes continuing to rise, this means real estate investors have a good chance of making some quick cash by buying, fixing up, and selling a home.
Who Are You Selling To?
The important part of this industry is doing your research and knowing who you are selling to. There are cities across the country that are doing just fine. However, there are some that are still struggling to bring in new home buyers. So who are you selling to? Millennials are coming of age, starting families, and they are now looking for a home to settle down in. Put your marketing and search efforts toward this demographic and you may have a successful 2018.
Think Long-Term
The worrisome part about flipping homes is the question of whether or not you will find a buyer. But don’t give up just yet. Home seekers who are looking to settle down but who may not have the credit or downpayment to buy a house may be more than happy to rent, making it possible for you to find a home that needs fixing. Because rental prices are skyrocketing, you have ample opportunities to fix up a property and rent it out, making a profit over the long term.
If you want to skip the hard work and sweat of flipping a home, there is still a chance in the wholesaling business. With the right contract, the right property, and the good fortune of the housing market forecast for 2018, you can find a real estate investor who does want to put the work into the home. The potential for big earnings may not be quite the same, but remember, you aren’t putting in the hard work and there is an opportunity for multiple deals at a time.
There are always risks in the real estate industry, but knowing the market will keep you some peace of mind. When comparing 2016 and the majority of 2017, the housing market forecast for 2018 is looking strong. If you find the right property, at the right price, you can sell it and move on to the next opportunity.