Buying and FLIPPING a house in AUSTIN TEXAS with a budget of $1,000,000

In today's video, I thought I would have a little fun with you guys. One of my favorite things to do to pass the time is to scroll through zillow and look at houses on the market and conceptualize how I would improve them. This is how I practice for my actual flips as I am an investor outside of youtube. Hope you enjoyed this video.

How Flipping Houses Works:
Flipping is a real estate investment strategy where an investor purchases a property with the intention of selling it for a profit rather than using it. Investors who flip properties concentrate on the purchase and subsequent resale of one or a group of properties. Many investors attempt to generate a steady flow of income by engaging in frequent flips.

So how do you flip a building or house? The key is to buy low and sell high. But rather than adopt a buy-and-hold strategy, it's important to complete the transaction as quickly as possible. This limits the time that your capital is at risk. In general, the focus should be on speed as opposed to maximum profit. That’s because each day costs you more money in mortgage, utilities, property taxes, insurance, and other costs associated with homeownership.

But the flipping plan often comes with several pitfalls. Any profit you make is typically derived from price appreciation that results from a hot real estate market in which prices are rising rapidly or from capital improvements made to the property—or both. For example, an investor might purchase a fixer-upper in a hot neighborhood, make substantial renovations, then offer it at a price that reflects its new appearance and amenities.

#houseflipper #homeflip #realestateinvesting