carmella25
Member
Cash: $ 1.80
Posts: 21
Joined: 16 Sep 2006
Location: Bay Area, CA
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| Flipping |
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Does any one her flip homes for a living? If so is it profitable and what would it take to get started?
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Wed Sep 20, 2006 5:43 am |
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carmella25
Member
Cash: $ 1.80
Posts: 21
Joined: 16 Sep 2006
Location: Bay Area, CA
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| New Hype |
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So whats the new thing that happening in Real Estate?
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Fri Sep 22, 2006 5:38 am |
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sam1000
Full Member
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Joined: 28 Jul 2005
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yep, the market is on the downcycle and everyone knows about it (almost everyone, there are still fools out there looking to buy here in LA) so it's too late. Here in OC the RE asset values have risen over 300% over the last 9 yrs, a home costing $175k in 1997 now appraises for $625k.
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Thu Oct 05, 2006 6:07 pm |
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MidshoreMoney.com
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Joined: 10 Feb 2007
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Flipping is always risky...even in a good market. But as prices drop and everyone is bailing out, the investor jumps in and buys the properties off of the people who're getting scared. Considering that they say real estate is about a 20 year cycle, the best flip you could make is the long term one. Buy low, keep till market rises again, sell high.
It's the same with the stock market (or so I read).
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Sun Feb 11, 2007 5:10 pm |
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Bid-Palace
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I think it depends on where you are located. I am in Dallas and Flipping if very popular and profitable. I think as long as you have a good deal, anything is possible.
You just have to do your research and work the numbers out, it's possible to take a loss but you never know until you try. It's always key to look for a favorable 30% equity to work with and be in a good developing area.
Texas,-Dallas and Austin are hot right now along with Houston. My focus is Dallas but hear from other Investors about the other two cities.. I would kill to be in Austin right now buying up. I really do not think there is a bubble in Real Estate and to judge it Nationally doesn't work and unfair.. Real Estate is very localized. I don't think bubble's burst but think they hibernate and come in waves. A lot of California Investors look into the Texas Market these days. A smart and mobile investor migrates orinvest where the deals are..
Real Estate is the best Investment are many years of looking at everything in a whole. There are Multiple ways besides flipping to be profitable. You can assign contracts which in a essence is a legal bird dog.. If you can't sell when you want to filp then rent it out, refinance if you are taking from Hard Money and get little equity out to improve while renting.. or to recover your losses. If you can't sell, hold/rent and wait for the market to recover..
I hope that helps and puts a more positive outlook on flipping. Of course do your research and talk to ppl that have experience before pulling the trigger.
Take Care,
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Tue Feb 13, 2007 12:58 am |
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lordspoon
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Cash: $ 2.05
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Joined: 17 Feb 2007
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| Re: Flipping |
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quote:
Originally posted by carmella25
Does any one her flip homes for a living? If so is it profitable and what would it take to get started?
Flipping puts you in a kind of "Make you, or break you" situation, It can be a very profitable thing to do, but one wrong move and you could end up in over your head.... I wouldent advise flipping at this point in time, you have to let the realestate market pick up again.
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Sun Feb 18, 2007 6:05 am |
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Bid-Palace
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Joined: 17 Mar 2004
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Another aspect of flipping that may not be considered or realized in this discussion is who you are flipping it to? Yes, you have to be very careful and hope the deal is what it is when you first worked your #'s out but a lot of wholesalers/flippers are just acquiring this property for other investors to pick up for a small profit. If you are able to acquire properties in bulk and flip as such, then it would be most beneficial. This is good if you are this good and maybe have a builder resource.
The investor picking it up may want it for multiple purposes... -as long as they are still getting a good deal. They may be looking to fix up and resale or fix up and rent for few yrs to sell after appreciation. I have talked to a lot of wholesalers/flippers who are happy to unload within 60 days.. It's all about the network and it takes a while to get there but in the end.. everybody benefits.
You may want to build a good relationship with a Realtor, Contractor, Landscapers, etc to put everything together quickly.
I wouldn't personally advise to begin with flipping bc it is risky to start with but I would do the homework and always keep both eyes open for your first flip.
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Sun Feb 18, 2007 5:50 pm |
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austin
Contributing Member
Cash: $ 7.20
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Joined: 29 Jun 2007
Location: Austin
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| Be careful |
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I would always be careful when flipping. I work in the Austin market. Some people make alot of money flipping but alot of the foreclosures I see are failed attempts at flipping. Usually its people that didnt realize the costs involved with fixing various problems. Also frequently they ran into more problems than expected.
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Fri Jun 29, 2007 8:37 am |
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Case-Face
Full Member
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Joined: 21 May 2007
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| flip |
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I know quite a few people who have flip homes, but then again that's what they do for a living.
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Wed Jul 18, 2007 9:00 pm |
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Case-Face
Full Member
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| flippin in so cal |
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I know I just commented, but in the Riverside County area of Calif., house flipping is quite routine.
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Wed Jul 18, 2007 9:02 pm |
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consultshowme
New Poster
Cash: $ 0.45
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Joined: 23 Jul 2007
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| Re: Flipping |
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I do flipping for a living and am about to flip new homes or new
constructed ones. And I will make 50k off of one plus referals and
Also, I learned how to become a project manager
for any referals to the builder. I get paid a salary, so it is a regular type
job.
You can email me for advice.
quote:
Originally posted by carmella25
Does any one her flip homes for a living? If so is it profitable and what would it take to get started?
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Mon Jul 23, 2007 8:49 pm |
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master01
New Member
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Joined: 27 Jul 2007
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House flipping is the perfect occupation for those who enjoy do-it-yourself projects. If you are the handyman type you can save a tremendous amount of money by doing the work yourself. If you don't enjoy doing this type of work there are many skilled laborers looking for work. These folks are eager and willing to do the work for you at a reasonable price.
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Fri Jul 27, 2007 9:53 am |
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