Ignite FB Tracking PixelInvesting in Real Estate: Flipping A House - Jennifer Gordon
Cangiano Estates, Ltd.
Jennifer Gordon, Cangiano Estates, Ltd.Phone: (917) 771-3290
Email: [email protected]

Investing in Real Estate: Flipping A House

by Jennifer Gordon 05/05/2019

You can make money by investing in real estate. One way you can do this is by flipping houses. Flipping a property refers to when you buy a house to sell it for profit. The purchase is a short-term investment that requires much planning as it could be quite dicey. Buying a home to sell is a great way to make money, but it requires skill, careful consideration, research, and sometimes pure luck. No matter what kind of property you decide to invest in, there are many things to consider when you are getting ready to start flipping houses.

There are two main types of house flipping:

- A real estate investor purchases a house that could potentially increase in value if repaired and updated. After completing the renovation, the investor makes money from selling the home for a higher price than the total cost of the purchase and improvements.

- A real estate investor identifies an undervalued property in the market in a neighborhood with fast-rising home values and holds the property for some time until the house has a higher value. They then resell the house profitably.

Common types of property to flip

- Single-family houses: These are the most common types of homes to flip. These include bungalows, semi-detached houses, townhouses, and freestanding homes. They are the easiest to buy and sell as they are most readily available.>

- Multi-family residences: You can renovate the existing units or add more units to the property to make it more attractive to buyers.

- Retail properties: You can buy a property and restore it to make it suitable for specific use as a restaurant, bar, or store.

- Land: This is the most difficult as there are more processes involved and building on a new property is more expensive than renovating an existing one.

Benefits of house flipping

- You have a significant level of control over many elements of the project through research and analysis

- You can flip any house as long as it fits your needs and requirements.

- The team you hire can significantly influence the success of your flips like an experienced real estate agent, an interior decorator, and a reputable contractor.

Disadvantages of house flipping

- You might lose your money if you don't get all the expenses right or you run into unexpected costs

- Sometimes you have to pay capital gains taxes when you sell a house.

- You may end up spending more than you should on a home if you misjudge the neighborhood.

If you are looking to start investing in real estate, flipping houses is a great way to start. Speak to a real estate agent and an experienced contractor to begin.

About the Author

Author
Jennifer Gordon

A Staten Island Realtor since 1998, Jennifer earned her NYS Associate Broker license in 2006, and has established herself with an impressive selling record while maintaining a reputation for providing personal attention, quality service, and above all, for her integrity. An active and involved member of the Staten Island Board of Realtors (SIBOR) and the Multiple Listing Service (MLS), Jennifer has served as Chair of the Technology Committee, as a member of the MLS Vendor Task Force, the MLS Transition Committee, the Legal Liaison Task Force, the Young Professionals Network, the Attorney Interaction Task Force, the Grievance Committee, the Installation Committee, the Agent Day & Trade Show Committee,the SIBOR 100th Year Gala Committee and currently reappointed a fourth year on the Professional Standards Committee. Jennifer is also a member of the National Association of Realtors, a member of the New York State Association of Realtors, and she has been a licensed New York Notary Public since 2002, a service she happily offers to all for free.

Jennifer began working in Staten Island real estate part time, nights and weekends, while simultaneously studying for her Bachelor’s Degree at the College of Staten Island and working full time at Staten Island Academy, a private-independent school, as secretary to the Headmaster. Six months later,after successfully selling several homes, Jennifer resigned from the Academy so she could focus her attention on real estate full time – a life-changing and rewarding transition she has never regretted. Earning her Bachelor’s Degree in psychology has well-equipped her to successfully work with various personality types. Jennifer was recognized as the very first student at the College of Staten Island to minor in developmental disabilities and her internship and focus was on autism. Jennifer has volunteered and raised money to bring awareness and resources to the autistic community and she is a concerned supporter of quality future housing for autistic adults. Jennifer has always found pleasure in helping people; right out of Tottenville High School, she worked as an intake counselor at Project Hospitality where she helped serve Staten Island’s homeless population. Now a Realtor, she says that “helping families while earning a living is a winning combination.”

A proud Staten Island resident since 1978, Jennifer became a first time homeowner in 2003 and again in 2009. The experiences gave her valuable insight and made her a better Realtor. Jennifer’s two beautiful children are top students at their schools and are enthusiastically involved in community and charitable events. Both have added cherished perspective to family life and have helped provide an important understanding of and respect for working parents looking to make their next move.

Personal Attention

A great listener with a good attitude, Jennifer has the ability to focus her attention on the needs of her clients, whether they be buyers, sellers,landlords, or tenants. Many have said they have made Jennifer their Realtor“for life” and confidently refer to her their closest friends and family members. Continued education, community involvement, immersed in a brilliant network of business professionals and lovingly supported by understanding family and friends help keep Jennifer ahead of the rest.

Quality Service

Jennifer’s wide range of marketing techniques insures her clients the utmost exposure from, among other things, social media and online marketing,professional photographs, virtual tours, detailed direct mailings, informative open houses, custom-printed color brochures, and extensive publication advertising. 

Integrity

Honesty, good character, fairness, sincerity, and trustworthiness are words her clients use to describe Jennifer. She is a trusted first choice, guaranteeing the most effective marketing, negotiating the most favorable terms and conditions, and communicating well with all involved parties to make the process as smooth and enjoyable as possible. Most importantly, Jennifer’s integrity is intact at all times along with a healthy dose of natural tenacity.

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