Should you rent
it or flip
it? This is a dilemma faced by many novice real estate investors looking to earn from either renting
out or flipping a property.
In a nutshell, to “flip”
means to purchase a property that is undervalued compared to similar properties in the same area, make some minor repairs and cosmetic improvements, then list it at a higher price. Flipping property
is a good way to earn quick cash, which could bring you around $20,000-60,000 or more in profits. But flipping
is not for everyone.
You may lose money on flipping a property
if you end up with high repair costs or if the repairs take too long to finish, or the property stays in the market for too long....
Have you heard of the Auburn 7 small lot subdivision in Silver Lake
? This complex of seven single family homes designed by Silver Lake based MASS Architecture and Design is one of L.A.'s small lot subdivisions, located right here is Silver Lake
. The seven homes are townhouse style, separated by just a small space and share walkways and a community garden on DWP land in front.
Elysian Heights- a neighborhood in the hills of Echo Park
Most people are familiar with Griffith Park, but not as many have heard of Elysian Park and the residential area adjacent to it known as Elysian Heights- the hills of Echo Park
Founded in 1781, Elysian Park is 600 acres of preserved space planted with native chaparral, eucalyptus, ficus and avocado trees. Considered an urban oasis to nature-loving Angelinos and visitors alike, the park is home to hiking trails, picnic areas and playing fields. It's also the location of Dodger Stadium and the Los Angeles Police Academy!
The residential area bordering the park took on the name Elysian Heights
and many of the homes offer wonderful views of downtown, Echo Park and out...