{"id":3566,"date":"2021-09-24T16:55:54","date_gmt":"2021-09-24T20:55:54","guid":{"rendered":"https:\/\/propertyonion.com\/education\/?p=3566"},"modified":"2021-09-24T16:55:55","modified_gmt":"2021-09-24T20:55:55","slug":"is-adding-solar-panels-to-your-next-flip-worth-it","status":"publish","type":"post","link":"https:\/\/propertyonion.com\/education\/is-adding-solar-panels-to-your-next-flip-worth-it\/","title":{"rendered":"Is Adding Solar Panels to Your Next Flip Worth It?"},"content":{"rendered":"\n

Flipping is a research-intensive affair that requires, among other skills, extensive knowledge, planning, timing, and good judgment to pull off successfully. The get-rich-quick face given to the industry by TV shows couldn\u2019t be more misleading and drives prospective investors to make needless and avoidable flipping mistakes<\/a>.<\/p>\n\n\n\n

Just as many things can go wrong as they can go right in a flipping venture. The drastic drop in US home flipping rates and gross profits in the first quarter of 2021 after a decade-long upward market validates this.<\/p>\n\n\n\n

A report<\/a> by ATTOM Data Solutions reveals that 32,526 single-family homes and condominiums contributed to the total home sales in Q1 2021. At 2.7%, it is a huge drop from 7.5% recorded in the same period of 2020, continuing the 4.5% depreciation in Q4 2020. Profit margins declined in a similar fashion.<\/p>\n\n\n\n

Although profits also fell between Q4 2020 ($71,000) and Q1 2021 ($63,500), they performed better than Q1 of 2020 ($62,000). Median prices followed the profits, hitting the all-time low since 2011.<\/p>\n\n\n\n

Wow, that\u2019s a lot of Qs, right? What these numbers tell us is that flipping has risks<\/a> and opportunities like any other market. The ability to beat the odds depends on an investor\u2019s strategy, use of assets, and long-term goals.<\/p>\n\n\n\n

In fact, you could be the one person thriving in a declining market if your strategy stands out and gives you a competitive advantage. Could adding solar panels to your next flip<\/a> be the dealmaker in your strategy? Well, there are a couple of things to consider.<\/p>\n\n\n\n

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