Profits from re-developing real estate come from either buying low and selling high (often in a rapidly rising market), or buying a house that needs repair and fixing it up before reselling it for a profit ("fix and flip").
Under the "fix and flip" scenario, we will purchase a property at a discount price. The discount may be because of:
the property's condition (e.g., the house needs major renovations and/or repairs which the owner either does not want, or cannot afford, to do), or
the owner(s) needing to sell a property quickly (e.g., relocation, divorce, pending foreclosure).
Mioym Equities will then perform necessary renovations and repairs, and attempt to make a profit by selling the house quickly at a higher price. The "fix and flip" scenario is profitable to investors because the average homebuyer lacks the time and funds to repairs and renovations, so they look for a property that is ready to move into. Also, most traditional mortgage lenders require the home to be habitable with no significant repairs.
Additions & Remodeling
Drywall & Plaster
Flooring & Carpet
Heating & Furnace Systems
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