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Flipping Houses: Cashing in on Sandy

by blogger1
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on Wednesday, 31 October 2012
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Hurricane Sandy may have brought devastation but it also brought massive money making opportunities for those flipping houses too…

You can bet private equity giants and hedge fund managers are really wishing they had gotten into flipping real estate instead of turning REOs into rentals now.

Hurricane Sandy has been devastating for the east coast and the tragedy of that shouldn’t be taken lightly but rather than meaning taking advantage of those in trouble, investors can pull in big profits from providing much needed services and helping those in a bind.

There may be many ways to do this but Sandy, as with previous storms has proven that wholesaling houses continues to be the safest and ultimately most profitable real estate investing strategy. In addition to no holding costs or liability from tenant lawsuits, for wholesalers there is no risk of property damage, no hassle of dealing with insurance companies and no fear of being stuck with dead weight properties that drain cash flow.

Hurricane Sandy has potentially damaged hundreds of thousands of properties in the northeast, causing more foreclosures, rendering many homeless and putting other real estate investors who weren’t prepared out of business.

This brings plenty of opportunity for flipping a massive volume of homes in the next few months. There are going to be a lot of ex-homeowners flush with insurance cash needing to buy homes, many entering the pre-foreclosure stage as they are too strapped to pay their mortgages and those who simply can’t afford to secure their homes and face big fines for not doing so and a void left where other wholesalers failed to secure the tools to stay operational in times like these.

Just make sure you do your due diligence before laying out any cash and ensuring that the properties you put under contract can actually be resold.
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