Coronavirus and Real Estate: Nick Trimble Talks About The Surge in Fix-and-Flip Deals
By Space Coast Daily // June 23, 2020
In the era of COVID-19, people have faced unprecedented economic uncertainty. Because of this, many people have been looking to diversify their investment portfolios, particularly when it comes to real estate.
Real estate investing has been historically stable, and there are ample ways for beginners to break into the field.
Because of the increased interest in real estate investing, there’s been a surge in investors looking to get involved in fix-and-flip properties.
We wanted to learn more about this trend, so we sat down with Nick Trimble, a real estate investor, and expert.
We discovered Nick Trimble after coming across a recent press release he was featured on. on Nick Trimble shared some of his insider knowledge with us in this piece, and what new investors need to know if they want to get involved in fix and flips.
Nick Trimble, awesome to chat with you today. Can you tell us about your background?
I’m just a pretty average guy who grew up in South Carolina, and I had to make my own way when it came to learning about real estate investing.
I started out with my first rental property about six years ago, and it was my first big learning experience. It was not the smoothest experience, and it had its challenges, but I think that’s always the case when it comes to new endeavors.
And at the end of that experience, I was very happy with the result, and I’ve managed to have the same tenant stay in place ever since. After that, I moved over to fix-and-flip.
Tell us more about that experience.
It was also a very dynamic endeavor and starting off I had a lot of expectations. I’ve seen a lot of those fix and flip shows on TV of course and was really eager to get my hands dirty.
That project was particularly challenging, and I really learned firsthand some of the critical pillars of fix-and-flip.
What were some of your major takeaways from that first flip?
It’s really important to know what kind of work the property needs, to the best of your ability. Of course, that’s the big challenge with getting “fixer-uppers,” because you don’t really know what is lying under the surface of the home.
This is something most flippers don’t talk about and most sites online only discuss positive end results and the ability to earn a massive profit when the deal gets to a closing table.
My first project turned into a money pit because it kept being “one more repair.” And on top of that, I learned how important it is to work with the right contractors. I picked the wrong ones for that first project, and it was another challenge.
Why do you think there’s a surge in fix-and-flip right now?
It makes sense, given the state of the economy. People are realizing they need new avenues for income. Fix-and-flip can be a relatively low barrier to get into, and it can also be quick and easy to finance, with alternative loans such as hard money loans, for example.
There are plenty of properties just sitting on the market because no one has really been able to find them. This means you can probably find some real gems when it comes to fix-and-flips.
The COVID-19 outbreak has definitely shattered the world of real estate investing. But despite the uncertainty, savvy investors are still able to find real estate opportunities amid the pandemic.
But what are the best real estate investment strategies for beginners amid the pandemic? You can if you want to educate yourself on how to find amazing real estate deals.
Nick Trimble, you’re the man. Thank you for sharing some great information with our readers today. How can people learn more about you?
Right now, a big priority of mine is helping other real estate investors get their feet wet. I share a lot of articles and information on my website
I just launched located at http://nicktrimble.com/, because I’ve learned a lot of lessons along the way, and I feel as though I can help guide investors, particularly new investors.
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