Is "flipping" homes a good real estate investment?
October 10, 2008 - You will pay a high rate of interest for the mortgage money as an investor. The insurance will be very high. Your holding costs will be lengthy because of the very VERY slow real ...
This is absolutely NOT the time for an inexperienced person to flip homes. The market is incredibly slow. You will pay a high rate of interest for the mortgage money as an investor. The insurance will be very high. Your holding costs will be lengthy because of the very VERY slow real estate market. Wait 'til the market improves. Save your money in the meantime for a larger downpayment so you can carry the property at less cost.
- um......presentl;y could be the worst business decision u could make. ... (are u living in a cave)?
Real Estate is always a good investment. However, look at the times the USA is in right now.... NOT GOOD so I wouldn't do it now.... But if you want to try it go for it but I would buy one house and fix it up (make some upgrades) and then put it on the market.... It may take a long time to sell.... But I wouldn't just keep buying home after home because you may find yourself with nothing selling.... If you can afford it go for it because sooner or later probably more later than sooner it will pay off. Sorry i don't have a web site but I would start with lenders and buy foreclosures. All my advice comes for experience in the business
Point to ponder, The housing market today and the problems we have are from product minipulation. I have a dollar i want to sell. What is it worth I can furnish an app from my realotor saying its worth. $1.20 Keep in mind the dollar don't belong to me. I also know a company that will loan you all the money without check anything you put on this credit app so if you lie i don't care because i'm getting paid on the profit with no risk. Keep in mind we ain't to smart cause these people got papers saying they smart. Now they package it and trabe it to someone else with no cash changing hands and have never laid eyes on the dollar. Now they say it aint worth a dollar. what am i supost to belive these are the same people i borrowed the money from 3 mths ago when they firnished papers sayin it was worth a $1.20 sides they loaned me all the money and with all that scoolin i thougt they new what they was doin sides i done planted grass. who's gona pay for that?
It used to be very lucrative but the market being what it is makes it a risky venture. The market is flat right now and after you've prepared a property and brought it to market, until it sells you're essentially losing money. Then you must consider the capital gains you must pay on your profit. Unless you are very skilled in renovating and a property your interested in is an incredible bargain, I'd wait awhile. It is possible to pick up properties and flip them without further investment but this is something that takes time to develop a knack for.
- Dollars change hands...very good investment
- do u live under a rock
- Now is a good time to be a buyer. You need to have a seller who will pay your expenceses.
- thats what I do for a living. did 150 this year. All the websites are advertisements. Homes are on sale at the moment and construction cost is very low in most areas.
- IDK
Knowledge Base: Mortgage
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