Should You Flip or Hold On to a House?

 

The benefits of flipping a house versus holding on to it long term.

Is it better to flip a home or hold on to it long term? The truth is that they both come with benefits, and which one you should do depends on what you need out of the investment.

When flipping a home, it comes down to wanting to get the most cash you can immediately. If you’re trying to start a portfolio or want to make some quick cash, flipping is a great option. You can increase your cash flow fast if you buy and sell the smart way. If you don’t buy smart in the beginning, you can get into trouble and end up losing money in the long run. 

 

You need a fantastic real estate agent to help you do it right.”

 

On the other hand, holding on to a property is a great idea too. As the house rises in value, you can take advantage of the appreciation. Over the last 10 years, appreciation has escalated by 6% in the Scottsdale real estate market. With appreciation, you can refinance the property in a few years, take that extra cash, buy another house, and start the process all over again, making you even more money. 

The BRRRR method is an excellent way to make money long term. It stands for buy, renovate, rent, refinance, and repeat. There are still opportunities in this market to find and buy properties to either flip or hold long term, but you need a fantastic real estate agent to help you do it right. 

If you’re interested in buying a property for any reason or have questions, call us or visit our website. We’d love to help you.