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Flip a Home in These States and Make a HUGE Profit

According to a 2016 report by ATTOM Data Solutions, house flipping is once again proliferating among property managers following its sharp decline after the 2008 financial crisis. In fact, the…

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According to a 2016 report by ATTOM Data Solutions, house flipping is once again proliferating among property managers following its sharp decline after the 2008 financial crisis.

In fact, the report showed that from 2015 to 2016 alone, the number of houses flipped (i.e. sold for the second time in a 12-month period, usually with no-one actually moving in to the residence) rose by 3.1%; that means it’s at its highest level since 2006, with 193,000 homes and condos being flipped.

So, you might be wondering about how to get started with house flipping yourself and – while it is an extensively intricate topic to really cover in a comprehensive sense – we thought we’d take a look at a few of the states providing the most lucrative flipping opportunities in today’s post.

San Jose, California

San Jose is an amazing city to live in, and the rich are shelling out significant sums of cash to get on to the property ladder in the area. This has provided a lot of eating for house flippers, who managed to receive an average of $145,000 for all of their flips in 2015/6.

In fact, out of 110 metro areas studied, it was ranked as the joint number one place to make a profit for those looking to flip a home.

Boston, Massachusetts

The capital of Ma is a great place for families to move to. Highly regarded for its schools and culture, it has been recognised over the years for its lauded intellectual reputation. In fact, Mark Twain once said of the city:

“In New York, they ask, ‘How much money does he have?’ In Philadelphia, they ask, ‘Who were his parents?’ In Boston they ask, ‘How much does he know?”

Such is the desire to live in the city that, like San Jose, it has become a great place for house flippers to buy and sell property; flippers there made an average of $140,000 in profit in 2016.

San Francisco, California

It may often be dull, dreary, and wet, but San Francisco still manages to lure millions of visitors both domestically and internationally every year. In fact, just like its fellow California county, San Jose, San Francisco flips averaged $145,000 over the one year period.

Daren Blomquist, the senior Vice President over at RealtyTrac (a company devoted to providing information which puts together analytics for house-flipping transactions across the states), discussed this during an interview. “That’s a big one”, he said when talking about San Fran. He noted that it’s particularly “hard to flip in those [Bay Area] markets”, but also that – for those who manage to make it work – “you get a big bang for your buck”.

Avoid Like the Plague

For those of you who were wondering, the bottom of the list was occupied by many of the states you’d expect; the worst place to flip a home, though? Detroit.

“You’d have to do about seven flips in Detroit to equal one flip in the Bay Area”, said Blomquist during the same interview.

Nevertheless, there are countless opportunities in any state to start growing your income using house flipping. Equipped with the necessary knowledge and funds for investment, you can start to see massive returns, and we definitely recommend it to anyone out there who’s interested in trading.

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Awesome Apps for Managing Your Finances

We live in an age of constant stimulation; if you’re not being told exactly what to buy by the television, internet ads, blogs, and YouTube videos, then you it’s just…

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We live in an age of constant stimulation; if you’re not being told exactly what to buy by the television, internet ads, blogs, and YouTube videos, then you it’s just as likely that you’ll be consumed by work or addiction to online technology.

With this fast-paced lifestyle, it’s not hard to lose track of what’s going on in the background; namely, the state of our own personal finances. Thankfully, there’s a slew of great apps out there which we can use to keep tabs on how much we’re spending.

Today, we’re going to look at a selection of our favourites for doing just that.

You Need a Budget

Also known as YNAB within its community, this app is pretty spectacular. Its goal is to help you visualize your finances, so that you can stop living on a paycheck-to-paycheck basis. In fact, its emphasis on assisting you in tackling your debt and dealing with unexpected circumstances is a breath of fresh air in the free-flowing world of app releases; because, when all things are considered, the only thing better than an original app idea, is an original app idea that helps you to drastically improve your standard of living.

Instead of allowing users to set their own disposable spending limits, YNAB analyses your funds by gathering information about your regular income and expenditure, and then creates a budget around that. This means that, instead of merely having saving goals, you’ll be living within the most realistic income of all – your actual earnings! Genius.

Acorns

Another great tool for helping you to build your own nest egg is Acorns. By helping you to develop good financial habits, this simple app can let you start making the steps you need to build up a considerable nest egg.

How does it do this? Well, every time you make a purchase using a bank card which you’ve pre-configured with the Acorn app, it will round the amount to the next-highest dollar. By investing the difference between the price of your purchase and how much is actually deducted from your account into low-cost exchange-traded funds (and you can actually tell the app how risky you want your investments to be), you’ll start to see your rate or returns significantly grow.

After all, who doesn’t want to find an extra $500 or $1,000 in their investment account at the end of each year? We’re serious guys – try this one!

Microsoft Excel

Yes, it’s ghetto, but it gets the job done. In fact, in the years before the proliferation of genuinely useful mobile apps for managing finances, I used to manage all of my expenses using a fairly straightforward Spreadsheet I put together in Excel.

Even with the most rudimentary formulas, you can tally up how much you’ve been spending, how much has come in to your bank account, and identify those sinks where you’re spending too much money and take the necessary action needed to close them up.

Of course, there are countless ways to manage your personal finances using today’s mobile technology. In fact, for those of you who are really into it, you can combine several different tools to create a kind of monolithic, terror-inducing master method for saving money. However, for those of you who just want to save a little, any of the above options are going to get you on the right track starting today.

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