Re: Flipping houses, how much profit to expect after remodeling?
Most of the money made in flipping houses is by purchasing the house at below market prices. While the RE market isn't perfectly efficient, most buyers and agents are intelligent enough to figure out how to discount a house for the work that needs to be done.
Obviously you'll get the most bang for your buck by repairing the cheapest things that make the largest visual impact, but I think most of the real money is made by working hard to find properties at below market. Flippers will then do the remodel to just sell it for top dollar.
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