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Additional Details
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jim p | How realistic is flipping houses for a living? |
This is my dream job!
Additional Details
specific details would be nice or websites |
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amore917
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its very realistic if you are super organized and allow a cushion in the budget for any surprises youmight find. read books from pros for tips. |
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acermill
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Right now, it's completely unrealistic, since the market is simply flooded with far more sellers than buyers. Feel free to spend $200K on what you think is a deal, then another $20K to fix it up real pretty so it will sell quickly, and then discover that the market value has fallen to $195K.
Getting the picture now ? |
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♥ JustAChick ♥
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It seems lucrative, depending on the area you are purchasing the house. Property Ladder on TLC will give you great "flipping" tips and ideas! |
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elaeblue
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It depends on your abiltiy to gauge the market and how much of the work you can do for yourself -whether actually yourself or with a crew. I think its one of those things that are actually possible to make a good living at if you have the skills to do it. |
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QuarterRoy
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You can do just fine at it. You have to have a lot of knowledgeable people who work for you.
You absolutely have to have an accurate estimate of costs to repair.
You have to know all the building codes for the area.
You have to know the market. Not just what a home like that will sell for, but like what price range of home sells the most in the area. It may be that homes in the $150,000.00 and under range account for 75% of all homes being sold. What ever the price, that is where you need to be to sell quickly. It will take longer and be more of a challange when you are outside the zone.
You will have to make the home stand out from the others in that price range.
There are many other factors, but if done correctly, you can still make a living doing it. |
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latrailera2000
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You haveto have money ,to make money |
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just some info
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I get a kick out of The fix and flip shows on T.V. I f your background is not in construction or project management I would recommend you leave it for the pros. I was a general contractor and bought properties to flip that ultimately put me out of business. It takes money and credit; expect to loose some. I made 10k on one and lost 15k on another. You really have to know what your doing or buy them to fix up and live in because you could be stuck with the payment. Good luck |
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bromanproperties
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Its very realistic. But you got to have funds to get started. You may have to buy a $250k property to sell for $300k. If you at the same time you have to be ready to loose some too. You have to scope out a neighborhood. Research property values. And have a good team. You need to have a good contruction team ready or you'll be stuck hiring locals who may get greedy on you. Only you knoe who are reputable people that arent going to sh_t you over.
Good Luck
Broman |
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Tom V
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A decent website on flipping houses and investment properties is the one below. It is the only one I know on this subject that is free. |
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mac mogul
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You are right this is the dream job. That's why I have a LLC set up to just flip houses. You do not need a ton of start up capital to start neither! The company I use to help me flip my investments does all the work and they guarantee your flip profit before you even make the investment! Go to the site and fill out their form and they will give you a call back after they receive it! They will call you back and create a profit projection analysis for you! They are good at what they do! Try them !
www. kjonesrealestateinvestment .com
Good luck |
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tregny01
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As other people have said, you need to have a decent amount of money to start. Where you live will also impact how successful you are. While some major cities like New York are experiencing a rise in sales, much of the country has more sellers than buyers at present. The larger cities will probably fall into that trend sometime within the next twelve months as well. I think that getting into flipping houses is a very risky thing to do in the market right now.
-Allie
Intern, The Real Estate Group |
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