Fix and Flip Opportunities in Westchester County
Westchester County has a growing real estate market. While many property investors focusing on commercial, industrial, and office space, the residential submarket is growing for house flippers. There are a number of fix and flip opportunities throughout Westchester County, and selling isn’t the only way to generate revenue from these properties.
Fix and Flip Strategies Aren’t What They Were 10 Years Ago
A little over ten years ago, the fix and flip bubble burst. While a number of factors played a part, many point to traditional loans, which have led to high requirements for commercial real estate investors. Simultaneously, the current and upcoming waves of house flippers are taking a more sustainable and tailored approach. Westchester County property flippers do not want faceless lenders. Instead, they want a finance partner or lender who actually understands their vision, who knows how the property markets in Westchester County work, and who can provide a viable solution so you can make a profitable sale after all of your hard work. The new wave of house flippers also has a plan to overcome obstacles as the market ebbs and flows.
Fix and Hold
Fix and hold has come to the forefront of various submarkets, in case of dips in the market. Fix and hold is a simple strategy which involves commercial real estate investors purchasing properties at below market value and renovating them. If the market is depressed and the property flippers can’t make a decent profit, they simply hold onto the property and turn it into a rental. By renting out houses when the market is depressed, property flippers can generate revenue, pay off loans, and make a profit until there is a new surge in real estate. Then, when the market is higher, Westchester County property flippers can get the residence ready for listing and make a sale.
Financing Fix and Flip Projects in Westchester County
While traditional lenders have made it more challenging for independent house flippers to get adequate financing to purchase and renovate homes, there are a number of accessible and affordable alternatives. At First Crescent Capital, we specialize in commercial real estate financing solutions for property flippers in Westchester County. If you are getting ready to take on your first property flip, or if you have years of experience and are managing multiple projects at once, contact your home team at First Crescent Capital today.