The People You Need to Hire for House Flipping

A few years ago, house flipping became a big business. It became so big that there had been more than five reality shows about house flipping and these shows rated high on viewership. In 2015, house flipping is still a very profitable real estate business, which you can get into if you have enough capital. House flipping is basically buying an abandoned house, renovating it then selling it at a good price. If you are interested in getting into the house flipping business, you need to know the people you should hire in order to help you from start to finish.

1. A reliable architect

Architects may be well-known as house designers, but they are also good in checking the state of a building-whether it is well-built, strong and whether you can change some parts of the house without sacrificing stability. Having an architect in your team is an advantage to your flipping business because some of your competitors may not have their own architects. Choose an architect who has a good record and who is willing to do the job based on your budget.

2. A good interior designer and decorator

It’s hard to sell a house if the interior is not well-designed. That is why you definitely should hire an interior designer. Interior designers are artists whose canvas is the interior of buildings. They will help you find the best color to paint the walls, placement of the furnishings and the decorations to make the house attractive to prospective buyers. In order to avoid conflicts about the look of the home interior, make sure the interior designer you choose is someone you feel comfortable with and has the same taste as you when it comes to decorations.

3. A fast renovation company

When choosing a renovation company to do the actual repair and remodeling of the house you are flipping, you have to ensure that they have enough qualified workers who can work fast so you can get your investment back fast. Remember, you have competitors in this business too and if they finish their house faster than you do, they may steal away your potential client. However, don’t sacrifice quality for speed too or else no one will trust you again. Remember, a renovation company with high-quality and efficient builders is what you want.

4. Real estate broker

Having a real estate broker is optional, but is advised. Real estate brokers have the necessary knowledge about finding possible buyers as well as connections that can help them find people looking for homes. The real estate broker you choose should be someone you can trust, and this person should have no past or present involvements in any disputes. You can check on your city for list of real estate brokers who are licensed for this job.

House flipping is a profitable business, especially if you have the right people in your team. The list above should help guide you in finding and choosing reliable teammates on your quest to make profits from house flipping.

North Lincolnshire Growth Factors

Expanded seaport and renewable energy sectors get all the headlines. But this vibrant region of northern England has its eggs in many baskets.

The renewable energy company Offshore energy Denmark announced in February 2015 that 4,000 jobs in wind farm operations and maintenance would be created in Grimsby within five years. This is part of a projected 10,000 jobs envisaged by wind energy manufacturing that should result from the Able Marine Energy Park and Green Port Hull.

Supply chain companies to North Lincolnshire and areas surrounding the Humber. The renewable energy sector building significant assets in the North Sea is certainly a big part of that. With the Government’s £3 billion initiative to create the UK’s largest deep-water port, the South Humber Gateway project, the area will be a significant industry hub. Yet several other industry sectors are on a growth path – enough so that the Greater Lincolnshire Local Enterprise Partnership (LEP) says that 100,000 new homes need to be built to accommodate the influx of new workers.

What else might draw investors to think of North Lincolnshire as important to their portfolios? Here are the industries the Greater Lincolnshire LEP says are the growth sectors of the regional economy:

• Renewable energy – The low-carbon sector is worth £1.2 billion per annum. Add biomass, biofuels and energy from waste that continue to play an economic role as well.

• Healthcare – Already this sector employs 56,000 people but with an aging population and emerging educational institutions (Lincoln Science and Innovation Park), some of the new housing stock should include whole-life needs of seniors.

• Tourism – 39,000 workers welcome and serve 22 million tourists each year, generating £1.3 billion. Many of the castles and forts originally built to keep out invaders are now where friends and trading partners visit on holiday ventures.

• Agriculture and fishing – Producing 25 per cent of the UK’s vegetables on about the same portion of England’s grade 1 agricultural land, the region is also responsible for processing 70 per cent of UK seafood. Already, 68,000 people work across this supply chain in North Lincolnshire.

• Seaports and transportation – By tonnage, Greater Lincolnshire ports handle more than any other in the UK. With 75 per cent of the UK population within a four-hour drive, the ports of Immingham, Grimsby and Boston, as well as the Humberside Airport’s perishables capabilities, make this an exceptional point of trade coming in and going out of the country.

• Manufacturing/engineering – Serving the power engineering, petrochemical, steel manufacturing and motorsports engineering industries, this portion of the local economy produces 20 per cent (£3.3 billion) of the Greater Lincolnshire output.

• Small- to medium-sized business – There are 41,000 small and medium sized businesses already in this region.

As the chair of the Greater Lincolnshire LEP, Ursula Ledbetter, states, “Our housing market also plays an important role in supporting the local economy. We intend to ensure that public and private finance work together to provide a wide range of homes to suit all budgets, in the right places to support business growth and stronger communities.”

Those who choose to focus their finances in North Lincolnshire are obviously looking for growth. But a consultation with an independent financial advisor is nonetheless recommended.

The Pros And Cons Of Investing In Real Estate Vs Stock

Choosing the perfect investment avenue for yourself can be a strenuous experience, if you are not aware of the various options available. According to most investment experts, real estate and stocks are the best bet, when looking for a new investment. While both have their advantages, you cannot overlook the negative aspects as well. Here is a comparative analysis of property investments and stock investments-

Real Estate

The Benefits

1. Middle-Class Friendly

Real estate includes houses, apartments, hospitals, and other tangible things that middle-income and even lower- income groups are familiar with. This is in stark contrast to stocks, as the general population knows minimal about the latter. Hence, they prefer investing in property over stocks.

2. Safer Investment

Compared to stocks, which have a higher risk factor involved, property investments are relatively safer. While both real estate markets and stock markets are quite turbulent, the former has a bigger safety net. The reason being that with property investments, not much is left to chance.

The Drawbacks

1. More Research Involved

Stock investments are pretty straight forward and don’t require excessive research on the investor’s part. However, real estate investments involve a lot of hard work. From deciding on the property type to finalising on the mode of payment, there are a lot of tough calls to make.

2. Eligible For Tax Payment

Property investments are eligible for tax payments, which is not the case with stock investments. So, unless you rent out your property, you will stand to lose due to tax payments.

Stocks

The Benefits

1. Greater Profits

Most market analysts have agreed that stocks provide more profits as compared to property investments. Also, holding a stock for a long period of time has been one of the greatest wealth creators that puts stocks ahead of real estate in terms of the profit earning capacity.

2. Easier To Diversify

When you invest in the real estate market, you can only choose one property type at a time. This is not the case with the stock market, due to the availability of mutual funds. Mutual fund is a type of professionally managed investment fund that pools money from many investors to purchase securities. This gives investors a wide basket of stocks to invest in.

The Drawbacks

1. Ever Changing Price Trends

The biggest challenge for stock investments is that the stock exchange is fickle, as there is no telling when stock prices may soar or fall. While there are constant changes in the property market as well, the effects of the change are not as substantial.

2. Psychological Factor

Stock investments share some attributes with gambling. Like gambling, stocks investment also invites investors to invest more money with every gain that they make. Inevitably, this can be psychologically unhealthy.

Deciding on the type of investment depends upon a lot of factors. So, before investing your money, you must measure the advantages and disadvantages of real estate and stocks very carefully.