September 14, 2007

How To Flip Jamaica Real Estate - Property Flipping Explored

Jamaica real estate flipping" is a very hot topic in real estate. The definition of real estate flipping means to buying a property and reselling in a short turnaround time versus holding the property for the long term and earn revenue by rental. Flipping Jamaican real estate and property can vary using strategies that are profitable and some more risky than others. Today we examine the Buy, Repair And Sell Strategy. This strategy requires the investor to first locate a property that is a bit run down and for sale. Hence the real estate investor must scour the market and find Jamaican properties that are selling below Market value and have a high resale value. This involves a very simple formula. Let us assume that you purchase a Jamaican property for JMD$10,000.00. The going price for homes in that community is JMD$20,000.00. If you repair the home for say JMD$2,000 you can resell at JMD$20,000. However if you didn’t repair you could try to resell quickly for a much smaller profit. That is another Jamaican Property Flip strategy one which we will review at a later date. This methodology is a very common Jamaican real estate strategy. The key to making this strategy work is finding bargains on the real estate market and avoiding the major danger in repair and real estate flips is either paying too much or underestimating Jamaican property repairs. An investor must remain pragmatic when estimating repair costs, the length of time it will take to repair and ultimately resell. Jamaican real estate agents are a key aid in this process. They can be helpful from start to finish. They can assist in finding the best bargains and after repairs can assist in sales of the property. This means that their cost must be accounted for when planning to use this strategy. Worldwide Realtors Company Limited provides a great service in Best Real Estate Agents website that can help you find a real estate agent in your area and even country. There are several other Jamaican real estate flipping strategies that we will review over the next seven (7) days, however this main strategy and technique is the main one used by Jamaican property investors and developers. One notable about this strategy is that it requires capital to be readily available to the investor. The average turnaround time can be anywhere from 30 days to even 240 days, as repairs and resale can severely reduce the turnaround time. One major problem is that over 80% of all Residential Jamaican real estate sold is done so through a Mortgage Loan. This means that there will be lengthy delays in property sales.

No comments: