 Can your landlord call you 35 min. before coming over and just let him/herself in if you are sleeping? |
| Our landlord called and 35 min. later he was here while my husband was sleeping. When he entered the house, he found that we had pets that we were not suppose to have. As far as I know, it is ... |
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 My apartment left me a note that they will be doing inspections ...? |
inside of the apartments the next couple of days. Is this ethical for apartments to do this? What exactly will they be inspecting? The leaky roofs that they never fix?
Additional Details
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 Do you really think its a bad time to buy a home? |
| I'm getting married in June and everyone is telling me that its a really bad time, with the economy and all, to buy a home. Am I being naive or is it really a bad time? If so then what do I do.... |
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 How do people get so rich (ie. Buying a 3-family home)? |
| if you make 60k a year, and 30k of that is wasted every year on living expenses.. how do you get rich? What kind of income do you need to afford a $800,000 home?? What job and how much experience?... |
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 Renters moved in but failed to put utilities in their own name, and how can we as landlords make them pay? |
| We have a rental house that the tenants told us they had put the utitlities in their own name before they moved in. They didn't do it until they had been there nearly 2 weeks, then they moved ... |
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 When negotiating on a house...silly question? |
| Is it like buying a car? Do you negotiate on prices? and if so how much can you usually get knocked off? (looking to buy a house in the $350k range) What do I need to look for when speaking to a ... |
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 What's your best advice for a first time home buyer? |
| My husband and I are beginning to look for our first house! We are very excited, and are nervous too. We know that we need to look past decor and more at the condition of the house, but what is your ... |
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 Where do get the best bang for your buck? |
| Like where is a great place to live where you can get more of a home (bigger and nicer) for really cheap??... |
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 I Need to Pay My Rent by the 5th, I don't get paid till July 15th, I'm thinking about getting a title loan. |
| Is it possible to get a 30 or 60 day interest free loan from a title loan company? I just need to make it to the July 15th payday and I will be able to pay it back. I need to get 1400.00 from them. I ... |
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 23 yrs old- too early to think about buying a house? |
| So I'm 23 and still live with my parents. I want to get my own place but I don't want to rent. I want to buy a home but I don't know if I can afford it. I recently bought a new car and ... |
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 How much is your rent? |
Mine is $600/mo. for 2BR in Asheville, NC.
How much is rent in your area?... |
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 Do anyone know where i can rent a house or get information on renting houses? |
my husband and i are looking for a home to rent. if anyone
knows where we can rent a home or information on how to go about renting a home, can you guys help us out?... |
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 I want to buy a house and rent it to make money. Is that a good idea? |
| I was also thinking apartment complex, but do you have to get financed by a bank, and will they let you rent out the house? And how d you get financing for apartments?... |
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 How do I know what I owe for rent if I move in the middle of the month? |
| My lease ended several yrs ago so it's month to month. My landlord says I owe him for all of Feburary. I think I owe him for the last month I rent. When I moved in I only paid 1st months rent ... |
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 Why, when the value of my house has fallen ,? |
| must I continue paying the full mortgage price ? I consider the banks should be made to drop the value of the mortgages for all home buyers////.... |
|
 How many people know that the twin towers were brought down by demolition explosives? |
| THE PLANES WERE JUST AN EXCUSE TO HAVE SOMETHING TO BLAME THE FALLING OF THE BUILDING ON. AS WE ALL BELIEVED AT THE TIME, IT LOOKED CRAZY! I HAVE VIDEO THAT IT WAS NOT THE PLANES.... |
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 Need to sell my home quickly!!!? |
| im currently looking to sell my home and we need 120,000 for it how do i go about selling it quickly for that amount?... |
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Eliza N | Is flipping houses a smart way to make money? |
also what are the basics that you need to know to excell in flipping houses thanks |
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frankie b
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For some reason people seem to think you cant flip in a slow or down market. I completely disagree. It is all about purchase price, fix up cost, and resale price. It doesnt matter if the market is increasing or not. The way you make money on a flip is not with the market increasing, but with the value you add to it. Yes the days of buying a dirty home, and slapping some paint, and maybe a little cleaning with bleach and make 30k is gone. If you want to be a true flipper, you can still make great money. See, you buy a house that needs flooring, kitchen, baths, roof heat etc. Then when you fix these items, you are adding the value, not the market. When your finished you sell for a profit. Yes the sale time can take longer, but it will sell. If you are paying heafty carrying costs, this will cut into your profits so becareful. Treat this like any other business and watch your numbers. Always be conservative on the resale price, never let an agent tell an unrealistic resale value, just to get the sale now. Always do your homework. I will give you an example of my last deal in this "down market" where flipping is impossible. LOL
Purchase price = 240,000
Remodel cost = Roughly 33,000
Carrying cost = None (I paid cash, if you can great)
Sale time = 3.5 months.
Sale price = 344,000
Profit = 71k.
I do this several times a year, who ever says it cant be done has no clue what they are doing. Its all about buying low,low,low!!!!!! Never be afraid to insult the seller with your offer. You may get some bad reactions, and even piss off the realtor, but in the end when one says ok to your offer, you will have a good deal on your hands. Remember, always stay in budget!! |
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BigMikebodybuilding4LIFE
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It is if you know what your doing |
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Ron B
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Flipping is an excellent way to make money, but it, just like any other way, does have risks. In a great market, the risks are minimal because you can hold the house for long term gain if necesary. In todays market, the risks are much higher because there are less sales and prices are getting lower. You could get stuck with a house you did not want to hold.
To avoid these problems, you need to find a home that is much lower than comparable sales, and then price your home for sale less than the current market value. |
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bdancer222
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If you have to ask what the basics are, you're gonna lose your shirt. You need construction/handyman skills and knowledge .... and financing. |
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Pengy
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If the location is good, and you can do allot of the work yourself then yes is still a possibility, but if the location is bad and you have to hire others to do the work then your chances of making a profit are less desirable |
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yahweh550
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Be careful. Stock market losing value. |
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Adam S
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It can be a good way, if you know what you're doing. However, the housing market in the US is not very good right now, so unless you're in one of the areas that isn't in a slump, you might not want to get started flipping houses until the market picks up a bit. |
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Le Homme
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Not in this current market. The best attributes you can have are the talent of financial negotiation (securing loans or mortgages, hope fully w/no $ down or $ back @ closing!), handyman skills, for cheap labor to improve home quality and of course good marketing/real estate skills to advertise, show and close the sale on the house. |
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J'adore
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It can make you a lot of money, but you can also loose a lot of money, you have to research the market. Choose wisely about the location of the home, the price and stick to your budget. Plan high, because there's a lot of things to go wrong. Don't over do the house for the type of neighborhood it's in. You need to talk to a Realtor or someone with lots of experience. It's not just about fixing a house and selling it for profit. |
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William H
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You can make a lot of money flipping houses. If you see value in the property and can buy under market value. Always try and make your money going into the property.
Is there a zoning change that can be made to add value to the property. Can you aggregate several parcels to create value for an end user? |
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teddi p
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not in today's market! |
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bigoilman
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As indicated, you've got a LOT to learn before you make this leap. However, here's the basic formula that's served thousands of rehab investors well. Never, never, never (did I mention, never?) pay more than 70% of Full Market Value (as determined by comps, not list prices) MINUS any needed repairs to reach your Maximum Allowable Offer (MAO).
Got it?
FMV X .70 - repairs = MAO
And you never want to pay MAO if possible. Learn to negotiate. Especially if you're not doing the work yourself!
Learn it, know it, live it. If you stray from this formula, you're going to a seminar...at the school of HARD KNOCKS!
There's a ton of books/cd's/dvd's out there from every real estate "GURU" on the planet. Ron LeGrand's stuff is a very good intro into the business but for a free forum FULL of good information join The Creative Investor forums at www.thecreativeinvestor.com
Please keep in mind that HGTV makes it look easy. And what they skip over is the most important part....You don't make money in Real Estate when you sell, you make it when you buy!
HTH
Addition: I looked back at this post and realized it sounded sort of negative. That was not my intention. If you're serious about doing this, get yourself educated on the subject and go for it. If I'd listened to all the naysayers I'd never have even gotten started.
Another addition: The post below this one is excellent and I agree completely. You'll also notice that his numbers follow the formula that I laid out pretty closely. He paid a little more but he could afford to since he had no holding costs and he's obviously experienced enough to avoid huge costs overruns because his repair estimates are accurate. |
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ABC
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You still can flip a house but it is much harder compared to a few years ago. Invest In Abandoned or Condemned Homes. You can get them for pennies on the dollar and therefore greater profit potential.
Charlie |
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zyberianwarrior
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Flipping died out 2 years ago. Nice try. |
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bigjacka55
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if u got lots of money to start with it aint bad, but if youre poor its something not worth even wasting your time thinking about, you need about a couple 100 grand to start off |
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SmartA$$
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no, if you flip a house it will always land roof-down and cause major damage, this will cost you money, not make money. |
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