 IS RENTING A HOUSE or BUYING BETTER? |
| I've heard friends who worry all the time about the price of this and the price of that from owning a home... and honestly it makes me worry, which is better?... |
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 Should i buy a property in South East this winter? |
| Or will the housing bubble burst sometime soon?... |
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| I'm a renter and my home will be auctioned in 2weeks that's my only notice HELP!!? |
i have got a notice saying i have til 6/24 and my home will be autioned ..i need help and can't afford a lawyer
Additional Details
correction it was a Notice of Trustee's Sale..... |
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| My son set up cam and caught a real estate agent talking on her cell phone in our living room the whole time while the couple prowled around our house. Then she cut down our house every way she could ... |
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| we have had repeated sewage spills in our basment in pa. we recently found out it's because he hooked the sump pump in to the sanitary sewer line and every time it rains hard It blows sewage all ... |
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 Does anyone have any idea where I can find a big historic house for sale that needs fixing up,or is abandon.? |
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 Rent to buy? Can someone explain this? |
I have been renting an aparment for a few years but now am looking into renting out a condo but some I see have the rent to buy option.
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 If I get a mortgage with someone is it necessary for them to go on the deeds for the property? |
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Trevor | Any tips on flipping homes? I am truly considering going into it....How's the market ? |
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darrin_carey
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All markets are local.
Find your local Real Estate Investors Association and join it. Then attend the meetings and talk with the people there. You'll quickly find the ones doing flips. Most will be happy to talk and help you get started. |
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Joseph T
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You are about 7 years too late. Lots or people are doing this and the housing market is about to die. My neighbor who works at a gas station just told me he joined a house flipping team, there are signs of this stuff coming to an end and thats one of them when any moron can be convinced its the easiest money around...
If you have a team of a carpenter, electrician and landscaper or can do these things yourself then you should look into foreclosures. Most foreclosures arent great deals but they are good deals and sometimes they are very damaged and you can get them very cheap, then they have to be fixed up for a low price and then you can make a small profit.
Don't let anyone tell you this is easy money, its work just like anything else and there is great risk too. You can easily buy a house to flip and mis manage something and not have a profitable situation anymore.
Seriously good luck, if you are a hard worker then you can make a living doing this or something else. |
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rollo_tomassi423
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Isn't a lot of it a matter of timing? In other words if you are buying and selling houses while the market is going up, you are almost always going to make money. But right now you would be buying at the top of the market, so it is quite likely that you would lose money if housing prices continue to fall. You can only make money now if you find an unusual deal, and fix up the house in a way that will net you more than the cost of fixing it up plus the anticipated loss in market value. It is still possible to make money flipping houses, but is more difficult given where the market is now. |
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elaeblue
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Right now the market is low - there are lots of foreclosures right now. I would search for a good deal on a foreclosure and flip that! |
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sames
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The market depends on where you are located. Some areas are booming, others are not.
Its not as easy as the TV programs make it sound, but it can be done successfully. Most people overpay for the homes they buy. They don't figure carrying costs (monthly mortgage while doing the fix) , closing costs, and real estate commissions.
What looks like a nice $20,000 profit may actually be cut down to a few thousand after hidden costs. If you overpay for the property you could even lose money.
Invest a few bucks in a good course. It will be worth the $500 or so. |
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k man
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The guy was correct about the foreclosure market.Just knot sure why he didn't think that was flipping.
Location is very important go to the courthouse and look up past sales in a close proximity for the same type and size
house.Check roof, hvac,go under and check for water leaks and damage.The one lady said she just made 50,000.not sure about that. I usually do good to get 20,000 profit.
It is a live and learn business.Just stay out of neighborhoods on the decline unless you want them for rentals.that is another monster. |
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Ashley I
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Right now the housing market isn't in great condition. In some areas home values are dropping while in others the prices are still climbing. Also, homes are sitting on the market for much longer now that the housing boom has slowed. Alot of the success in flipping comes with how long the flip sits on the market waiting to be sold because the longer it stays on the market the higher your expenses.
But the condition of the market and your success really depends on the location. |
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Kathy
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Unless you have a lot of avaliable cash to work with....and EXCELLENT credit, are in good standing with a bank or several lending institutions are a pro handy man....then don't do it. It's not as easy as TV shows it. |
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Kathryn
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It depends on where you are, but in general the market is not nearly as hot as it was a couple of years ago. In the early part of this decade, just holding a house for a few months allowed flippers to make a profit (even if they made very few improvements). Now, it's a much riskier proposition.
I would start small if you decide to do it. Pick a decent house in a decent neighborhood that isn't selling because of easy-to-fix cosmetic issues. And make sure you get a home inspection so you don't find some unexpected problems like bad electrical, plumbing, or roof.
Remember also that if you sell the house with a real estate agent, it will cost you 5-6% of the purchase price; so take that into consideration.
Good luck. |
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lucy m
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That's what I do for a living. I made $50.000 on my last house and only had it for 45 days. All i did was to repaint it. But for good luck I always have sex in each room before I put it up for sale. |
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volunteerjim
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"How's the market?"
The 'market' is different in virtually every city in the US; there is no "One size fits all" answer for your question.
Several questions you should know the answer to before beginning though:
1. How do you intend to pay for your initial house to flip?
2. How do you intend to pay for your repairs and upgrades to increase the value?
3. How do you intend to pay the carrying charges, i.e. interest, utilities, insurance, taxes, etc., while you're marketing this property and before someone buys it?
What if you have to hold it for 6 months or longer before it sells; do you have the financial resources to do that?
If there is a local real estate investment club in your area you would be well served by attending a few meetings and ask questions of people that are actually flipping properties successfully right now. You may be surprised that most are very forthcoming with their advice and suggestions.
Go, listen, and learn. |
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Ian S
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There's always a market. The more relevant question to ask is "how's my cash-flow?" then "how much will this house sell for, and when?" My problem is never "the market", it's always finding a saleable house where the purchase, fixing and holding costs are within the available cash-flow. |
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