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09-22-2008, 12:17 PM #1
Fixer Upper
- Join Date
- Sep 2008
- Posts
- 24
Tough to flip
Is now a bad time to buy a house and flip it? The market seems to indicate this, but I need to ask the pros
Last edited by Chief Tutor; 09-23-2008 at 12:28 PM. Reason: Put URL in your signature
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09-22-2008, 04:33 PM #2
Mansion
- Join Date
- Nov 2006
- Posts
- 1,232
It's never a bad time.
Let take an example.
A property was $150K in 2000. Was $300K in 2005. And is $220K today.
Well, you buy it for $120K and flip it for $160. You make $40K and you sell to a very happy buyer whom just get $60K instant equity. See? It's not a bad time...
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10-13-2008, 01:17 PM #3
Renter
- Join Date
- Jan 2007
- Posts
- 6
It is a very tough time to flip... Having said that I would you can still make decent money real estate wholesaling. Because you are selling paper and not houses the risk is 0.
you can pick up some inexpensive wholesaling courses on ebay if you were interested in it. I bought the ones that I started with thereEric Medemar
www.TheMillionairesBlog.com
My life changed the day I "stopped worrying about ways to save money, and started worrying about ways to make it"
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10-21-2008, 07:48 AM #4
Fixer Upper
- Join Date
- Oct 2008
- Location
- Fort Wayne, IN
- Posts
- 31
I think flipping right now would be tough, especially if your just starting out. I agree with Eric, wholesaling would be less of a risk right now.
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11-28-2008, 10:16 AM #5
Fixer Upper
- Join Date
- Nov 2008
- Location
- Cape Coral Florida
- Posts
- 15
We had property that was a 700k prop in 06 had contract for 180k, bank came back with 160k just to make deal go quicker, closed in 15 days!!! Investor sold it for around 300k in less than 90 days. Flips still great. Financing harder because of seasoning issues.
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