Renovating & Flipping homes is not as easy as it sounds. You must have a strong team, to include a knowledgeable real estate brokerage, that understands the ever changing real estate trends affecting investors. Having a real estate and investment advisor offers you an important layer to help with fraud & liability protection.
Many investors try and wear too many hats to save money, which usually has the adverse and expensive affect. Investors should be out investing and not practicing real estate. Your Time is Money.
In this do-it-yourself society, most don't understand the term "ignorance of the law is no excuse" which is the first thing novice investors learn when they go to court for the first time. Unintentional Fraud and Lack of Knowledge for contracts & disclosures are some of the biggest liabilities that face real estate investors today. **Whether a homeowner renovating to sell their personal home or professional renovators, lack of disclosure is the Top recourse that a buyer has with applicable statutes of limitations, if they can prove any concealment, regardless of whether unintentional. Most renovations are Spot reno's and not complete tear downs so proper disclosure can be tricky, with Failure to Disclose being the easiest loop hole for anyone searching for recourse can use. *This is not legal advice, but expert knowledge from seeing thousands of contracts & cases. Please see your attorney for any legal advice, pertaining to this generalization.
This is why professional investors utilize professional brokers as part of their team. Linda, broker of SoCal Superior Properties Inc, is trained specifically for investors to target markets correctly to find the discounted deals investors are looking for.
2017 will be a Good Year for Cash Flow properties in California but not as much for flip renovations, unless you have your own gap funds to avoid the high charges of holding costs.
Call SoCal Superior Properties, Inc for all your Buy & Hold or Flip Investment needs, so your financial portfolio is managed with the utmost professionalism.
When receiving real estate advice, individuals should always seek their own legal and tax advice pertaining to each persons financial portfolio.