House flipping for profit may not be as easy as it looks on HGTV, short timelines, small renovation costs, and quick sales. In the real world there is always the unexpected. At Brand Realty Group we help educate and assist you in limiting unforeseen expenses and the do's and don'ts of flipping a house. Your reputation for quality workmanship, keeping to code and distinctive finishes shows buyers you are a not just in it for a quick buck, but building a brand based on value and integrity. Clients will soon gravitate towards your projects, confident that the home you are selling is not a quick flip, but has been renovated with a level quality workmanship and care. At Brand Realty Group we help guide you every step of the way, as we help you set up for success. New to the market is our BRG suite of services tailored to meet the needs of today's real estate investor. Education and mentorship by a team of leading industry professionals, well versed in all aspects of renovations and sales, to ultimately maximize returns. Our BRG program enables you to access mentors working closely with you to ensure that both your initial purchase, renovations or upgrades, and the sale of your house project coincide with Brand Realty Groups dedication to value and integrity. We are here to support your process, and want to ensure that you are well informed before you begin what can be a lucrative venture if done properly. From start to finish, we are please to offer the following
1) Finding you a house with strong potential for returns.
2) Assisting you in accessing working capital with BRG Capital Resources
3) Guiding you with the elements of both exterior and interior design with BRG Creative Spaces.ca team.
4) Marketing including staging and sales.
Knowledge is power, here are a few examples of what you need to be aware of when flipping a house:
Return on investment can be fickle...Real estate is an investment that can't be liquidated easily nor can it be divided, making it a highly stringent. When investors do turn a profit, it is mostly due to good timing and controlling of the details including costs associated with financing, carrying and renovating an investment property.
Taxes, taxes and more taxes...Investors will buy a residential investment property, renovate it and then attempt to sell it quickly for a profit. But this activity has tax implications. If more than 90 per cent of a home’s wall, ceiling and floor space is renovated and sold within a year or two, the Canada Revenue Agency will tax it as business income and expect HST to be applied to the transaction, a point that many property flippers overlook.
Do due diligence...When buying properties invest in hiring an inspector and trades people to carefully examine your prospective purchase. If it is a rental property you are wanting to purchase, also analyze the tenant mix, read the fine print of lease agreements and search for hidden landlord expenses.
Look for conflict of interest...Often people take a salesperson’s view on how the market looks, but he or she is conflicted. Professional investors will say they read brokerage reports for the information, not the conclusions. You have to take that same approach with people who sell you real estate.
Still interested? Let's get the conversation started. BRG Start to Finish program...we've got you covered.
Cheers,
Brandon
1) Finding you a house with strong potential for returns.
2) Assisting you in accessing working capital with BRG Capital Resources
3) Guiding you with the elements of both exterior and interior design with BRG Creative Spaces.ca team.
4) Marketing including staging and sales.
Knowledge is power, here are a few examples of what you need to be aware of when flipping a house:
Return on investment can be fickle...Real estate is an investment that can't be liquidated easily nor can it be divided, making it a highly stringent. When investors do turn a profit, it is mostly due to good timing and controlling of the details including costs associated with financing, carrying and renovating an investment property.
Taxes, taxes and more taxes...Investors will buy a residential investment property, renovate it and then attempt to sell it quickly for a profit. But this activity has tax implications. If more than 90 per cent of a home’s wall, ceiling and floor space is renovated and sold within a year or two, the Canada Revenue Agency will tax it as business income and expect HST to be applied to the transaction, a point that many property flippers overlook.
Do due diligence...When buying properties invest in hiring an inspector and trades people to carefully examine your prospective purchase. If it is a rental property you are wanting to purchase, also analyze the tenant mix, read the fine print of lease agreements and search for hidden landlord expenses.
Look for conflict of interest...Often people take a salesperson’s view on how the market looks, but he or she is conflicted. Professional investors will say they read brokerage reports for the information, not the conclusions. You have to take that same approach with people who sell you real estate.
Still interested? Let's get the conversation started. BRG Start to Finish program...we've got you covered.
Cheers,
Brandon