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| You Can't Flip Houses Anymore And Expect To Make A Profit |
| I mean why couldn't you as long as you bought it below market value and didn't spend to much fixing it |
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Mackenzie makes a lot of very good points. You can still make a profit but if you can't sell as
soon as you like you can always rent it out till you can find a buyer. |
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Till govt. Gets involve and punishes fraud and crooked home builders we innocent home owners will
have to pay and suffer, govt. Does need to make sure that builders do pay, send them to jail |
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Right now with the economy the way it is, it is very hard to "flip" a house. You might be able to
buy one for really cheap and fix it up really nice, but it is not going to sell right now. The
housing market is way down. It would almost be a waste of money to try and remodel houses now. |
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It is still possible to flip a house and make a decent profit, although this is certainly a much
more difficult task these days in the United States, where inflated house prices are now falling
back to more realistic levels. A similar process is also taking place in the United Kingdom, but
still to a lesser degree.
The best way to flip a house and make a profit is to buy one in a neighbourhood currently undergoing
gentrification, or to purchase one of the smaller, least expensive houses in an up scale borough.
Some people have a real talent for determining which previously poor, industrial or working-class
neighbourhoods may be on the cusp of gentrification. If you see new condominium projects being
advertised, if old factories are being turned into lofts and if trendy cafes and bistros are
opening, then you can be sure that this process is well under way.
Another good way to flip a house and make some money on it is to buy one in dire need of repairs. If
you can make the repairs yourself, or find relatively cheap labour, then you will likely earn some
money on the side. It is always most important to renovate the kitchen and bathrooms first, as these
tend to dramatically increase the valuation of a home. |
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 For and Against Recent Activity
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06 Apr 2008 02:05
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