6 Reasons Veterans Make Great House Flippers
The real estate industry in the United States continues to soar and provide disposable income to many investors. It has become a lucrative business for many people, despite the world’s challenges in the past years.
There are many ways to make money in real estate. You can buy a property and rent it for the short or long term; you can purchase land and build a house for rent or sale or sell the land later when the value increases. Or you may also buy a property and flip it.
What Is Flipping?
Flipping or house flipping is purchasing a property, not to use it, but to make cosmetic changes and sell it for a much higher price. In the United States, house flipping is a very profitable venture. The Statistica Research Department has reported that each home sold through house flipping generates a profit of USD$67,000.
San Jose, California, is the top city with the highest profit from house flipping in 2020. House flipping is an excellent method to expand one’s portfolio and a great way to inflate one’s retirement fund.
It has been noted that veterans are among the best house flippers in the market today. One of the reasons is they can acquire home loans faster, given their background. Veterans can also get competitive interest rates on their loans, such as the ones offered by Security America Mortgage, which are beneficial for home flipping businesses.
So, if you’re a veteran planning on getting into the world of house flipping, know that there are affordable mortgages that you and your family can take advantage of. To learn more about this, you may visit securityamericamortgage.com. And if you want more reasons to convince you that veterans make great house flippers, check out this list:
- They Have Good Judgement
Veterans are used to being surrounded by unusual conditions. They can find a way out unscathed of any sticky situations. They know how important a mission is to their country and how to navigate any circumstances to come out victorious.
In house flipping, they cannot commit to buying anything without assessing thoroughly what the outcome could be. Veterans are experts in weighing the pros and cons. They would always err on the side of caution. Not to say that they aren’t willing to take a chance, but they would always consider the bigger picture before committing to anything.
- They’re Used To Working With A Team
House flipping is not a solitary endeavor. You will have to work with a lot of people most of the time, especially realtors, contractors, appraisers, and home inspectors. Working in real estate requires you to be a team player to get the highest value for the property you invested in.
Veterans always work with a platoon. They know the importance of each member’s role and how vital their contributions are to the group. A group member cannot dismiss others outright. Each group member knows what value the others bring to the table, which is essential in house flipping, especially if you’re the one who handles the investment or the leader of the group.
- Calm Under Pressure
A lot of things can happen when you’re house flipping. Problems can arise, and you must remain cool-headed at all times. There may be issues with mortgage contracts, renovation concerns, open house schedules, or meetings with house buyers. Staying calm despite all these can dictate the flow of your transactions.
A veteran can handle all those concerns effortlessly. If they can withstand the pressure of war, a problem with renovation is a mundane thing that can be fixed for them.
- They’re Hard Workers
No one works harder than anyone who needs to battle an enemy in the field. Veterans underwent a lot of physical training before being deployed, and this made them tough and determined. Hence, they can have the same attitude towards any task.
- They’re Very Resilient
House flipping can be a very time-consuming and tiring venture. However, one cannot deny the significant returns. But before achieving all that, you will have to overcome many hurdles. And if you easily succumb to pressure, you can say goodbye to the money.
Veterans don’t give up very quickly. If there’s one thing that they can attest to, it’s not surrendering and retreating to enemies. They will always try to find a way. That’s why they’re suitable for this business.
- They’re Trustworthy
A house flipper can act as the realtor in the cycle of flipping a home. It’s more profitable this way since you won’t need to pay for realtor fees, and you don’t need to give them a cut. While presenting the home to buyers, a veteran can project an image of trust to them, which could sell the house faster.
House flipping is a significant investment venture where veterans can make big bucks. They don’t even have to create long spiels; their character and personality will be a great plus to sellers and buyers of homes.