How much are other real estate investors making from flipping houses, how do your figures stack up and how can you make more money?
We’re always hearing about real estate investing gurus who are making millions of dollars from the poolside of their waterfront mansions in a couple of hours a week, though few of them and their real estate investing education course are brave enough to reveal real figures.
So how much is your competition making from flipping houses today?
Benchmarking Your Real Estate Investing Profits
According to Salary.com a ‘Top Real Estate Executive’ in Fort Lauderdale, FL makes a median salary of $204,394, with some making upwards of $500k with bonuses.
According to a recent release from the South Florida Business Journal on the region’s surge in investment activity and data from RealtyTrac the average gross profit from a residential flip in the first half of 2012 was $29,342 on a national basis and as high as an average of $61,494 in Miami-Dade County.
Of course some real estate investors will make more and some less but either way it isn’t a bad payday even if you are average.
Maximizing Your Money Making Potential from Flipping Houses
Depending on their real estate investing strategy and location some individuals might make $500 a deal while others may top $1 million per property flipped. Similarly some may be fine strolling along with 4 deals a month while others are pushing to try and break the 30 deal a month threshold.
For most the question is what can be done to increase profits to maximize their full potential?
For those seeking to bump up their per unit profits turning back to their real estate education course can hold some of the crucial principles and tips for increasing net income. For others it may be a matter of needing to institute a scalable system for achieving a higher volume of deals every month and higher level real estate coaching may be the path needed to get there.