The Truth Behind Home Flipping

first_img Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago bank loan Budget Home Home Flipping House Porch project management Renovation 2019-02-28 Radhika Ojha February 28, 2019 2,213 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago There’s more to house flipping that meets the eye. And for professional home flippers, delays in project timelines, finding the right partners, and most importantly, funding, are just some of the business challenges, according to a survey by Porch.The survey of 370 people who have flipped residential real estate in the last five years looked at aspects such as buying a home, renovating on a budget, and quickly selling it for a profit.When it came to funding for a home flip, 41.6 percent respondents said that they tool the capital from personal savings accumulated from their primary source of income. Around 30 percent took bank loans, while 6.2 percent said they borrowed money from a family or friend.In terms of capital needed for a median flip vis-a-vis the profit on it, the survey revealed that profits weren’t rising with the trend. In fact, the median flipper “needed $50,000 for their most recent flip, because the average purchase cost was $100,000.” It found that while renovations were the cheapest part of the project ($30,000 or less), respondents said that “underestimating the cost of renovating could be the difference between a large profit and losing money.”In fact, nearly 64 percent of respondents said that they underestimated the cost of their last project while 36 percent said they didn’t budget enough money.Project partners also played an important role with 87 percent of the respondents saying that they flipped houses with a partner. Of these, 45.9 percent partnered with their significant other for these renovations. As with most big projects, major disagreements happening over budgeting (55.9 percent) and timelines (46 percent). However 43.5 percent respondents said that they rarely disagreed with their partners.Speaking of timelines, the survey found that on an average the total time to flip a house was delayed 17 days from the original timeline. And as with large projects like house flipping, project management was the most stressful part about the business. Around 90 percent of the respondents reported this factor as their key area causing stress, followed by construction (85 percent).Click here to read the full survey. Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / The Truth Behind Home Flipping Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Related Articles The Truth Behind Home Flipping Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: bank loan Budget Home Home Flipping House Porch project management Renovation Subscribe in Daily Dose, Featured, Market Studies, News Share Save Servicers Navigate the Post-Pandemic World 2 days ago About Author: Radhika Ojha The Best Markets For Residential Property Investors 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Previous: A Turning Point for Home Price Growth? Next: The Census Bureau’s Homeownership Snapshot The Best Markets For Residential Property Investors 2 days agolast_img read more

FH : Syracuse uses strong second half to advance to second round of NCAA tournament

first_img Facebook Twitter Google+ Ange Bradley said her Syracuse team showed early jitters in its first-round game against Richmond in the NCAA tournament.The SU head coach watched the Orange try to find its comfort zone as the Spiders fired six shots and challenged SU goalkeeper Leann  Stiver in a scoreless first half.‘In the first half we looked apprehensive and held back,’ Bradley said in a phone interview. ‘It took us a while to figure out their pressing patterns that they did and then once we did that we got our confidence and we did well.’No. 3 Syracuse (19-3, 5-1 Big East) found its confidence and used two goals from Heather Susek in the second half to earn a 2-0 victory over the Spiders Saturday in front of 529 in College Park, Md. The Orange made defensive adjustments at halftime to counter Richmond’s effective pressing approach to advance to the second round of the tournament Sunday, where it will face No. 4 Maryland at 2 p.m.SU held off Richmond in the first half despite the Spiders holding a 6-3 shot advantage.AdvertisementThis is placeholder textRU senior forward Katelin Peterson launched four first-half shots, two of which tested SU junior goalkeeper Leann Stiver. Stiver made both saves to keep the Spider off the board.And at halftime, the Orange calmed down and made the necessary adjustments. Bradley said the backs reshaped different in the second half and the forwards — most notably Susek — made a concerted effort to link players in all three sections of the field.With those adjustments made, Syracuse created more scoring opportunities, and outshot Richmond 9-3 in the second half.Susek broke the scoreless tie in the 50th minute, off a pass from senior midfielder Martina Loncarica. And just five minutes later she struck again, this time with an assist from freshman forward Jordan Page.‘She just was one of those forwards that popped back into the hole and served to be a connector between the backs and the forwards,’ Bradley said. ‘So she really was the impetus for change in our second half.’Susek’s performance coupled with the stifling effort in net from Stiver led SU into the second round.Bradley said the Orange will use the time before Sunday’s game to rest up and prepare for the next step toward the team’s ultimate goal of winning a national championship.‘We’re taking care of our bodies right now, and getting ready,’ Bradley said. ‘We want to be national champions so we’ve got to win. That’s what our mindset is.’[email protected] Published on November 12, 2011 at 12:00 pm Contact Stephen: [email protected] | @Stephen_Bailey1center_img Commentslast_img read more