Investing in residential property? Protect yourself against illegal "flipping"
If you're considering investing in rehabilitated residential property, you're making a smart choice. Real estate values have been climbing at the same time demand for homes has been increasing — an impressive combination.
Contact Appraisals By Michael to help secure your investment today.
Considering flipping a house?
Often, people and companies that sell rehabilitated real estate buy a run-down property and invest a lot of money and sweat equity in order to make it attractive to a buyer. They reap the reward when the property is sold for much more than what was originally paid for it. Not only is this is a lucrative opportunity for those with a bit of extra cash, it also makes more housing available at a time when it's in demand. Additionally, it's often a good investment choice for the eventual buyer as well.
Know the risks
Before you invest in a rehabilitated property, you should obtain a professional appraisal from an appraiser who has your interests in mind. Too often, homes are "flipped" for considerably more than they were paid for – without any substantial improvements to justify the higher price. You're the one left holding the bag. Shouldn’t you have someone on your side making sure your money is being invested wisely?
Protect yourself and your investment
It's easy to protect yourself: Hire a professional appraiser to ensure the property's improvements truly justify the asking (or agreed upon) price. If you're buying more than one property at a time from the same buyer, it's even more important to have the properties appraised by a professional working for your interests.
There are cost effective ways to protect yourself in an investment into many properties. We perform "drive-by" appraisals, sanctioned by housing giant Fannie Mae, which can be more economical than a full appraisal with an interior inspection. When combined with the expertise of a licensed home inspector, you can buy confidently, knowing that everything is as represented by the seller.
As an investor, you need and deserve to get the most for your money. Protect your interests with the help of a professional appraiser from Appraisals By Michael.
Do you have a question regarding real estate appraisals? Let us help. Simply fill out the form below and we will contact you as soon as possible.