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Is it still possible to profit from “house flipping” in 2021?

Short answer - YES!

As seen in the Peace Arch News March 2021.

  • Housing market predictions say that a fix and flip will be profitable in 2021.

  • Due to the increase in demand and shortage of inventory flipping is a solid strategy as buyers look for more options.

  • Home prices are up, which means appreciation can be forced by renovation, and there is good return on investment for flipping.

  • Know the 70% rule – do not pay more than 70% of a home’s after repair value (ARV) minus renovation costs. If the home’s ARV is estimated to be $850,000 and you need $35,000 for fixing it up to flip, your buying price should not exceed $560,000 ($850,000 x 70% – $35,000).

It was flipping houses that led me into Real Estate and I am here to answer your questions or help you find a property. We are experts in reno to sell and can offer price savings.

Get the best advice from a local, trustworthy expert.

AL G. DYCK, Personal Real Estate Corporation

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