With an ungodly amount of reality TV on networks across the country, real estate flipping and developers were bound to star in their very own drama-filled shows. And why wouldn't it be interesting? It's logical, formulaic, and feasible TREASURE HUNTING. It gives viewers a glimpse into the exciting and turbulent world of real estate developers who find beaten and tired properties and turn it into a healthy profit in months. Flippers make $100Ks - millions in single family real estate projects and portray a life and career that is both creatively exciting and lucrative.
I have had the pleasure of working with many developers on ventures that run the gamut. From land acquisition to small flips, all the way up to $30M+ new construction projects, every developer has their own criteria, style, and formula. Typically, the following criteria remain consistent:
- Limited cash outlay, The less out of pocket and at the least interest payment
possible - the better.
- 20%+ profit.
- Exit strategy. Nobody wants to tie their money up without having a back-up plan.
- 3-4 solid comparable properties that justify the venture.