Saturday, February 25, 2017

Phoenix Flipping Houses for Profit: Get to Know the 70% Rule

Phoenix flipping houses for profit
Phoenix flipping houses for a profit
If you are in Phoenix flipping houses for profit, it is best that you know the seventy percent rule. There are actually many people are in Phoenix flipping houses for profit who don’t know about the rule, and have had multiple house flips under their belt. It isn’t necessary knowledge, but it can be incredibly helpful.

Essentially, the seventy percent rule is a way for people who are in Phoenix flipping houses to determine the amount of money to pay for a property in order to make a profit. It basically states that someone in Phoenix flipping houses for profit should be putting forth seventy percent of the after repair value, minus needed repairs into a property financially.




It is incredibly helpful to use this when flipping houses because it allows you to create exact ranges of money you need to have available, and an idea of where it is going to go. Not only that, but this seventy percent rule allows people in Phoenix flipping houses to weigh the risks of investing in a specific property, and determine if it is worth the risk, or an investment to pass on.

Phoenix flipping houses for profit
Phoenix flipping houses for a profit

 Once you have the figures set for the seventy percent rule and you are in Phoenix flipping houses for profit, the process of flipping will be made much easier. Your renovations will have clear dollar amounts to stay within, and you may even find out that you can spend more than originally thought, and completely remodel a room.

To find out more about the seventy percent rule and other important information for people in Phoenix flipping houses, be sure to get in touch with the Matrix Real Estate Investor Network for professional help.

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