What is a fix and flip?
This is a real estate lingo. What it means is we buy a property, we do all the work to fix it and sometimes even improve it. We take care of everything and then we list it to find a new homeowner to sell to.
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Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,
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What is a Fix and Flip? This is a lingo that real estate investors use. All that means is that we buy the property. We go in and we fix it, we do all of the repair cost estimates, we hire the contractors, they do all the work, and then we flip it. We go, and we list the property on the MLS. We find a homeowner and then sell it to that homeowner. This is one of those processes that it's. It is very risky, if you don't know what you're doing, you can lose money pretty quickly. When you're fixing properties, it's not unheard of to spend 50, a hundred or 150,000 on the repairs of the property, depending on the condition and the shape that it's in. When you go to Fix and Flip, you also have to realize where the income is coming from. Usually Fix and Flip investors are not doing everything with their own cash. They're usually putting up a portion of their own cash, and then for the remainder, they're either getting a bank loan or an investor comes in with a loan, or they may get a hard money lender to loan on the construction because the more they can leverage their funds, the more of these Fix and Flips they can do at one time to increase their cash on cash return. So that's what a Fix and Flip is.
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