Fix and Flip loans. You’ve heard the term a lot but just aren’t sure it’s for you. After all, aren't most fix and flippers seasoned real estate agents? Could you really match up with them?
More importantly, could fix and flip loans help you fund your retirement?
If you want to know how fix and flip loans could help your retirement plans, read on.
Social security could be completely tapped out by 2034.
“Okay,” you might be thinking. “Why should I worry about my retirement? I’ve got a plan set up at work that should be fine.” This is a common thought a lot of people have. They assume that their 401(k)s should enough. Or they assume that social security will supplement what their 401(k) can’t cover.
The truth is that with all the advancements of medicine and tech people spend an average of 22 years in retirement. That’s 22 years of living off your 401(k) and social security.
According to news outlet CNBC you should have about 1 year's worth of your salary saved by age 30. By age 67 you should have 10 years worth. And that’s if your salary is enough to live on to begin with.
Not only that, but social security is expected to be completely tapped out by 2034. Worst still, many people underestimate how much money they need to retire on.
By the time you want to retire you might not be able to do so.
If this sounds scary, we don’t blame you. So what can you do to better save for retirement? Consider fix and flip loans.
The next section we’ll explain how fix and flip loans could help you save for retirement.
You could earn (on average) an extra $68,000 each year by fix and flipping homes.
Before we get into why you should consider fix and flip loans, let's first do a quick refresher.
Fix and flip loans are loans you get to fix up a property (such as a house or apartment complex) to later sell, or “flip,” for more money.
Fix and flip loans typically last 1-3 years instead of the usual 15-30. They’re short loans because lenders know the properties will be sold once the remodel/fixes are done.
So why should you consider a fix and flipping? For a lot reasons. $68,000 of them. That’s right. You could earn (on average) an extra $68,000 each year by fix and flipping homes.
The best part is that you’ll get better as you go. Pretty soon you’ll get the hang of how things go and you might be able to fix and flip full time. Imagine, making all the money you need for retirement by fixing homes.
By now this might sound a little too good to be true. Can anyone really make money with fix and flip loans?
Why not ask Robert Matthew Van Winkle? Better known as Vanilla Ice of “Ice Ice Baby” fame, Robert learned this the hard way.
During the height of his popularity he bought a lot of houses. But as his star power faded and he became financially “under pressure,” he had no choice but to sell them. What he learned was life changing: fixed up houses sell better than unfixed ones.
“Well, of course he could make money flipping,” you might think. “People love buying things celebs used.” While this is true, the former rapper didn’t just bank on his fame. He did something that every fix and flipper should do.
Robert knew that the only way to get ahead of the game was to take some real estate courses and educate himself. Educating yourself on the fix and flip process makes all the difference.
So if you want to get ahead and educate yourself on fix and flip loans, check out websites like FitSmallBusiness. It has a lot of helpful information to get you started. And if you’d like to learn more about fix and flip loans, contact one our experts today.
If you are looking for a fix and flip loan to help finance your retirement, look no further than Gauntlet Funding.
Gauntlet Funding offers the most competitive rates in the market for prime borrowers with no prepayment penalties. We are an organized and transparent system that will get you funded in little time after you have undergone the approval process! Contact Gauntlet Funding today at (631) 465-2161.
Fund Your Retirement with Fix and Flip Loans| Gauntlet Funding-Melville, NY