The Niagara region is the jewel of Southern Ontario, nestled between Lake Ontario and Lake Erie. When most people think of the Niagara area the first thing that comes to mind is tourism and of course, the Horseshoe Falls. Niagara is much more than the majestic falls and the maid of the mist boat tour, it also boasts scores of vineyards, wineries and orchards.

Fort Erie, Grimsby, Lincoln, Niagara Falls, Niagara-on-the-Lake, Pelham, Port Colborne, St. Catherines, Thorold, Wainfleet, Welland and West Lincoln are the twelve local municipalities that make flipping real estate in Niagara such a lucrative undertaking as each have their own special merits that make them attractive to potential buyers.

There are many opportunities for real estate flipping in Niagara. From traditional resale homes, to new build development sites. However, with an investment undertaking like this it is important to keep several things in mind including budget, timeline, smart shopping and finding trusted professionals to work with.

Budget Wisely

With big risk comes big reward and this seems to be the mentality of most successful real estate flippers. They then take that big reward and re-invest in subsequent projects allowing their original investment to gain big momentum. Seasoned investors will say it all starts with a practical budget. Practical means not investing more money than one can afford. And this is what should be kept in mind when determining how much the overall budget should be. The next step will be to separate the budget into quarters including property purchase, renovations, closing costs and contingency costs.

Map Out a Timeline

A firm, but reasonable timeline is the next important item to map out. There is no magic number, but a 12-month period seems to be a common timeframe in which to have enough time to flip for maximum profit., but of course this also depends greatly on the what the seller’s market looks like when it’s time put the property up for sale.

Shop Smart for Trusted Professionals

Smart shopping is another key, and when done right, can be combined with the last essential item, which is to find trusted professionals to work with. Wise investors know it is important to look before you leap, which in this context, translates into making sure thorough research is completed before deciding on where to shop, what to purchase, and with whom to work, be it contractors, real estate agents, or mortgage specialists.

Although there are some real estate investors that like to use the cashback option for mortgages, especially when they think there may be a chance that they will need to carry the property longer than expected before selling. The problem with this option is although, yes, a percentage of the mortgage principle is returned in the form of a lump sum payment when the mortgage closes but this comes with a higher than standard mortgage rate. Moreover, for practical real estate flippers it is doubly important to be aware that there are cash back penalties that can be incurred for any change in the mortgage terms, which is a situation that is will obviously be more likely than not, as the end goal is to sell the property as soon as it is ready to go.

This is where thorough research becomes even more strategic. There is an online consumer site that offers volume discount pricing through crowd buying preferred pricing, and even better - offers true cashback reward dollars on purchases. True cashback meaning that there are no strings attached, simply being a member allows you to earn on what you spend.. Further, members can also earn while procuring services from trusted professionals. This innovative site, Shop2Save offers members the services of two of the largest most reputable companies in Canada, Remax and Dominion Lending. Simply visit the website and use the proprietary calculators to see how much there is to be made from arranging mortgages, or buying and selling real estate.

Budgeting wisely, mapping out a reasonable timeline, and shopping smart with Shop2Save for the services of trusted professionals allows investors earn real cashback rewards dollars when flipping real estate in Niagara to help ensure maximum profit.