From cooking shows to DIY projects, there is no doubt that everything looks simple and effortless when it’s done on TV. The concept of house flipping is no different. It is a hot trend online and on-screen. The problem is that many of these shows catering to the entrepreneurial, crafty demographic want to portray the idea of home remodeling as a fruitful venture that costs very little. The reality, however, can be much darker.
Most of what we see on television is edited. In cases of refurbishment, it’s done to hide the reality of impossible timeframes, massive budgets, and many unglamorous repairs that go into house flipping. Even with all the expertise of a collaborative, professional team, there are still unforeseen issues that are never shown to the viewing audience. Because of this, a novice who is interested in testing the waters of house flipping might want to be fully prepared for the fact that anything can go wrong, including being left with massive debt and an unsold house at the end of the journey.
The other reason why house flipping isn’t the best choice for the foreseeable future is the fact that we are heading into a recession if we’re not already. States are gradually reopening in phases, but the real estate industry is not considered to be an essential business. Any risky ventures are not advised, including any type of investments that rely on third parties, such as sub-contractors or appliance suppliers. This means there is a good chance that things in the industry won’t be going back to normal until states are fully in the green phase.
Just like with any financial endeavor, experts advise newcomers to start slowly. If you are determined to learn the art of house flipping, it is strongly advised to do as much research as possible. Once you have your sights set on a location, it’s important to get a full inspection report on the foundation of the place you are interested in. The first decision to be made is whether it’s even worth the time, energy, and money you will need to tackle a project. An independent inspector with no connection to the selling agent is the smartest choice. Once you can make an educated guess on the break-even point, you should feel confident enough to proceed.
Moving to a completely new neighborhood can be an exciting and scary time in your life. It is always good to start a new chapter in your life, but the idea of moving somewhere unknown can be quite daunting. The only way to qualm your fears and find the perfect spot for your family is by doing a little extra research. Here are four tips to help you choose the correct neighborhood when moving.
Research the Schools
The quickest way to determine the credibility of a neighborhood is by checking the local school ratings. There is a direct correlation between good neighborhoods and good schools. These quality schools will make it easier for your kids to have a successful career later in life. If you do not plan on having kids, then the excellent school district will help keep property values in the area high.
Check the Crime Rates
You should never move to a new area without checking the local crime stats. Worrying about your safety is the last thing you want to happen after buying a new home. Crime reports are public record, so it should not be too hard to find them online. If you are unable to find detailed statistics regarding your new potential neighborhood, then you can always call the local police department.
Drive Through the Neighborhood
The best way to truly get a sense of a new neighborhood is by seeing it for yourself. Take a long drive down all of the major streets in the area. Keep an eye out for broken glass, graffiti, and unkempt yards. These are major signs that the local citizens are not proactive in maintaining the neighborhood, so it is probably not going to be a good fit for your family.
Find Local Amenities
While you are driving around the neighborhood, you should take some time to check out the local amenities. Note their proximity to your potential new house. If you love spending time in the park and walking to restaurants, then you need to find a neighborhood that allows you to maintain these hobbies. Finding an area that matches your personality and offers your desired amenities is the only way you will truly be happy after the move.
About Jason Cohen Pittsburgh
Jason Cohen is a real estate investor in Pittsburgh, Pennsylvania. He created Jason Cohen Pittsburgh, a group of real estate enthusiasts committed to helping others invest in real estate, and he has thrived in the area since 2002.
As Jason’s career has grown and flourished, so has Pittsburgh itself — transforming from an industrial “rust belt” city into a major cultural center abundant with high-end multi-family rental properties. Jason has seamlessly handled the dynamic nature of Pittsburgh and of the real estate industry in general. A research-driven professional, he consistently enables smart and profitable investments in the area, helping to transform modest properties into high-end rentals in Pittsburgh’s hottest neighborhoods.
Jason Cohen first entered the world of real estate shortly after his graduation from college. He started out by investing in distressed properties in Pennsylvania. After some experience working full-time for a real estate company, he decided to pave his own path in the industry. He has worked as an independent real estate agent and developed the Jason Cohen Pittsburgh team ever since. The team consists of highly qualified investors, property managers, leasing agents, and contractors.
Over the course of his career Jason has become highly proficient in acquisitions, joint ventures and partnerships, multifamily real estate investments, asset repositioning, real estate management, real estate brokerage, and new construction. He has excelled in high-level investment strategies, but is also no stranger to “ground work” when it comes to the industry. He is well-versed in each step of Jason Cohen Pittsburgh’s unique system: researching local areas and investing in properties, performing renovations to transform these properties from dilapidated eyesores into high-end units, and ultimately repositioning the properties for maximum profit in renting and selling.
Jason Cohen Pittsburgh is the group of choice for anyone who needs advice, analysis and due diligence, and general expertise in matters of investing, whether they are short-term or long-term. Jason Cohen Pittsburgh has dealt with properties in a variety of neighborhoods throughout parts of Pittsburgh, including the South Side, Oakland, Shadyside, Squirrel Hill, Mt. Lebanon, and Regent Square. Each and every one of these locations, paired with Jason’s overall knowledge of real estate investing, has allowed him to play a part in restoring Pittsburgh’s place as one of the most popular cities in the United States.
This blog will share news, updates, and insights regarding Pittsburgh and its real estate market from the perspective of Jason Cohen Pittsburgh. Stay tuned!