Factors to know before investing in Fix and Flip properties

[Christian Uraga]

Hello,

Thank you for taking the time to look at my post.  To start off I would like to know what I should expect when investing in properties for fix and flip.  I know the basic things that come with flipping houses, but I am curious about other aspects.  Some of the questions I have are as follows:

-Do you have to pay property/land taxes once you sign the forms or do you have a time frame before paying?

-Is insurance mandatory when doing a fix and flip?

-Average of closing cost?

I would like to know what other fees are associated with flipping a house.

Thank you very much!

[Roland Osage]

Hey Christian, it all depends, are you using all your own cash or are you using a hard money lender? Insurance isnt mandatory but highly recommended. For closing costs it depends on how your purchasing this property. When selling your biggest fee is Realtor commissions, usually runs you about 5-6 percent of the purchase price. Theres also permit fees, I'd be happy to hop on a call, just let me know.