Pros and cons for Fix and Flip.

Pros and cons for Fix and Flip.

Here are two major pros and two major cons about Fix and Flip. Welcome to Wealthy Wednesday. So the two pros of Fix and Flip are, number one is instant profit. You get the property, you repair it, put it on the market and you see your money come back quickly with the profit. That's definitely a plus point. So you are not holding your money for a longer period of time. And number two is you don't have many risks about the market condition. As you know that no one can time real estate when it's going to go up when it's going to go down. We all can predict it, but no one can time about real estate. So in a Fix and Flip, you buy the property and you're selling it so quickly. So you don't have to have that risk of the time factor for real estate, this ear the market is good or the next year the market is going to go bad or vice versa. So that's the second pro for Fix and Flip.

Now, of course, every pro coms with some cons. And here are two major cons for Fix and Flip. Number one is the high-income tax because of the profit you gain and you are doing it within a year. So the capital gain tax is high on the profit. So that's definitely one of the things you need to consider. And number two is finding the right crew for the repair and Remodeling. It is not easy to find experienced contractors with good prices, and honest people, it's not easy to find. So these two are major challenges for Fix and Flip. 

Hopefully, this information is going to help you do your next Fix and Flip. Or maybe you're thinking of starting Fix and Flip. My name is Shawn Bhakta from Remax Presidential, South Florida Home Finder Team, and I'm glad to help.

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