Here we are, over one year since the world changed as a result of the COVID pandemic. But what a difference a year has made! Vaccines are now widely available, fewer restrictions are in place, and commerce and industry are on the upswing.
So what does the emergence from Covid mean for real estate investors looking to grow their portfolios? No doubt, there is a shortage of properties for investors due, in part, to federal and state regulations to protect families from foreclosures and evictions, along with an extension on mortgage payment forbearance. Right now the search for property can be frustrating but for the diligent, patient investor, opportunity awaits!
Attention Realtors and Contractors: There’s Never Been a Better Time to Consider House Flipping
While the pandemic inflicted unprecedented losses on many businesses, one sector that did not follow that trend was residential real estate. The market both nationwide and here in the New York area continues to be red hot — largely as city dwellers move to the suburbs and the surge in demand has put the existing inventory of suburban homes in short supply.
Although finding an investment property can be difficult right now, it’s also an opportunity to make big profits – multiple sources including Bloomberg, CNBC, and Forbes report profits on flips are at a record high. And it’s an especially good opportunity for those who have insider’s knowledge like contractors and realtors. I know first-hand – as an investor and contractor, I have renovated and flipped more than 180 properties in my career.
Covid’s Effects on Real Estate Investing
Here we are, over one year since the world changed as a result of the COVID pandemic. But what a difference a year has made! Vaccines are now widely available, fewer restrictions are in place, and commerce and industry are on the upswing.
So what does the emergence from Covid mean for real estate investors looking to grow their portfolios? No doubt, there is a shortage of properties for investors due, in part, to federal and state regulations to protect families from foreclosures and evictions, along with an extension on mortgage payment forbearance. Right now the search for property can be frustrating but for the diligent, patient investor, opportunity awaits!