– Why I purchased this property to flip in this location
– How you can take a three family and turn it into three condos to triple your profit
– What a flip looks like at the beginning stages of the development process
– How to build Wealth by buying a Condo
– See a construction transform over time as the project progresses forward
This particular property is in Dorchester and what makes it especially attractive is the fact that is next to the train station. It is about a 5 to 10 minute walk from the train station which adds a ton of value because professionals or students can easily commute to work of into the city for entertainment and don’t need a car. Millennials want to live, work and play in the same community and if you have easy access to fast public transportation, it is very attractive for prospective buyers.
Developing condos also provides a great opportunity for folks to make a huge profit when they flip a house like this but it also empowers first time home buyers to purchase a condo as opposed to single families in cities like Boston and New York City that do not have a lot of affordable single family homes. In my opinion Condo flips are the fastest way to make millions in real estate and you don’t need to be a cash buyer to do it. You can get started with little to no capital of your own.
It’s the ultimate win-win because you make money and the buyer is able to achieve the American dream of homeownership and build wealth overtime in the process.
In Boston one of the ways investors are able to score a quick return on multifamily homes is by converting them to condos. This strategy will really payoff whether you decide to flip it yourself or wholesale it to another investor. Converting to Condos is when you buy a property and sell each unit separately instead of selling it as a multifamily.
In Cities like Boston or NYC that are very expensive, Condos also create opportunities for first time home buyers to purchase a home at a more affordable price vs purchasing a single family in the city.
