The housing market may have cooled slightly, but according to a recent report by ATTOM, there's still good news for house flippers. Their data shows that flipping activity and profits have both increased in the first quarter of 2024.
While the overall trends are positive, the ATTOM report also highlights the challenges flippers still face. Profit margins remain below historical peaks, and carrying costs like renovations and property taxes can easily erode profits.
Flipping houses is a competitive business, and maximizing profits requires a strategic approach. FlipperForce is your all-in-one software solution designed to help you succeed in any market by applying a winning formula:
Better Analysis + Better Planning + Better Execution = Better Profits.
Analyze deals upfront with data-driven tools to avoid overpaying and identify properties with the potential for high profit margins. Don't rely on gut instinct; make informed decisions based on concrete data.
Create a solid plan for each flip with accurate estimates and timelines. Create accurate rehab estimates so you have a solid budget established for your proejct before you start construction. Plan your construction timelines so all of your contractors know their expectations upfront.
Manage your budget effectively by tracking actual expenses against your initial estimates. Keep your contractors on so you can minimize costly delays and expensive carrying costs.
By following this formula and leveraging FlipperForce's powerful features, you can streamline your flipping process, make smarter decisions, and ultimately maximize your profits on every deal.
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