Flipping houses in Virginia can be a profitable decision if it's executed properly. This month, we're excited to feature a completed flip of a single-family home in Richmond that turned out to be specifically that for one of our Fund That Flip investors.
The property in Virginia has undergone an extensive rehab, and our borrower was determined to make it exceptional for the next owner. This real estate investor completely rehabilitated this property in just nine months. Fund That Flip was there to help the borrower transform the property into a modern, upscale home through the help of a short-term fix-and-flip bridge loan.
Check out the video below to see how this Virginia property was updated to become a modern masterpiece with high-end finishes. The borrower spared no expense to make sure this property would stand out among the rest!
This repeat borrower saw a fantastic opportunity to rehab this property and turn a profit through financing with a fix-and-flip loan. After successfully completing the project, the borrower listed this property for more than double the purchase price. This home features refinished floors, a first floor master bedroom with a walk-in closet, three upstairs bedrooms, an office room with a balcony, a fenced backyard with a patio, a detached garage, and more! We are proud to showcase how our short-term private money loans help to restore properties just like this one.
3 Stats You Need To Know for Flipping Houses in Virginia
According to Clever Real Estate, Virginia is a great state for flipping houses. Some of those reasons for why you might want to flip houses in Virginia are listed below.
- In 2018, CNBC ranked Virginia the seventh best state to flip houses with an average profit around $110,000.
- According to Zillow, median home value is $285,229. Home values in the state have increased by 4.2% in the last year.
- Median income is $72,000 in Virginia. This ranks in the top ten in the country.
Particularly, Richmond has some very desirable neighborhoods. With rising home values, the city of Richmond ranks in Clever's top five cities in Virginia for house flippers.
Are You Ready to Start Flipping Homes in Virginia?
Looking for an alternative to stocks? Investors can earn 8-10% annual returns on pre-vetted, low LTV, real estate-secured loans. Fund That Flip offers industry-leading visibility into each project, enabling investors to be highly selective in the loans they choose to fund. Click below to make an investment today!