I have some credit problems, but am in the process of repairing them. I have done some remodeling on my own, on friends homes. I live in an area where there are many places to fix up,but the price of houses is going up and I'm afraid that by the time I'm ready financially, nothing will be in my price range. I'm anxious to start.
2006-08-26 14:26:31 · 12 answers · asked by multitalent 1 in Home & Garden ➔ Decorating & Remodeling
get a big spatula
2006-08-26 14:31:48 · answer #1 · answered by richard457 4 · 1⤊ 0⤋
Now is not the time. I own Carlton Sheets program. No specifics on how to flip houses. It is not a sellers market now. Those who own rental property, are attempting to unload a good share of it. Read the higher circulation papers before you buy for more info on this.
Economy 101 - Economists are warning that the economy is about to crash. Foreign countries (and their investors) own the US. Seriously. We have accumulated so much national debt, we may never be able to pay it off. They tell us it is time for us to pay off all our personal debt, not accumulate more debt. Heed their advice. Read the headlines.
If you already have problems with personal debt, Carlton says to fix that first. Start with your credit report & work hard to turn it around. Make your plan (on paper). By the time you get your credit in tact, you will know what the economy is. I hope they're wrong, but everything they say makes sense. Try this site www.WorldNetDaily.com. For more on this. Good luck!
2006-08-27 04:02:26 · answer #2 · answered by Nancy L 4 · 0⤊ 0⤋
Find someone with the money to back you, let them buy and you do the work, but to flip a house you need to make worth while improvements and they don't come cheap, the way to do it is to hire contractors get the job done fast and flip within 90 days, and get the financing set up so you only pay the interest until the house sells, take in mind that you have to borrow enough to allow for the improvements, plus make a profit.
2006-08-26 14:52:56 · answer #3 · answered by judy_derr38565 6 · 0⤊ 0⤋
St Petersburg has a thing that gets under the skin and if you wish to learn what it is then, you ought to have a look with hotelbye . Nevsky Prospect is St Petersburg's major avenue and among the best-known roads in Russia. Chopping through the traditional centre of the city, it goes from the Admiralty, mark of Russian energy, to the Alexander Nevsky Monastery and it will undoubtedly be really lovely to go along that street in the evening when all illuminations on. Here, you will see everything: the most spectacular architecture, the spectacular palaces, the world-famous museums and the sparkling five-star hotels. One of the areas must see from St. Petersburg is State Hermitage Museum. The key architectural outfit of the Hermitage is situated in the heart of St Petersburg and consists in: Winter Palace, once the former state house of the Russian emperors, houses of the Small, Old (Great) and New Hermitages, the Hermitage Theatre and the Auxiliary House.
2016-12-20 04:12:42 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You are already out of your league. Although most people involved in house flipping do minimize their initial investment by choosing mortgage options without large down payments, you need capital to make the necessary improvements on the house. So many people see this as a get-rich quick business when in reality it requires a great deal of thought, time, capital, and energy to turn a profit.
2006-08-27 15:41:06 · answer #5 · answered by Freddie 3 · 0⤊ 0⤋
Those stupid yellow signs that say things like "We buy any home" are your best bet. As far as finding bank repos, if you don't like the sheriffs auction(completely different than a tax auction, even if both are done by the sheriff.) the REO's are a good source. I prefer these because you can really inspect the home you are purchasing. Most banks take 81% of their list price. REO's are homes that didn't get an offer or to low of an offer at the sheriffs auction, so the bank took control of them. The best deals, however, are going to be the properties on the verge of foreclosure, that the desperate home owner sells to you, and those signs are the best way to find them.
2016-03-26 21:17:07 · answer #6 · answered by ? 4 · 0⤊ 0⤋
You can always look to your friends to be investors and you all work equally on the project. Make sure the house you are "flipping" is in a desireable neighborhood or nice neighborhood. I had friends buy a home cheap, completely redo it, make it gorgeous, but the home sits in the midst of renters who trash their property, have police constantly visiting...etc....just a thing they didn't think about in their enthusiasm in finding an affordable project....they couldn't unload that home to a buyer with a dumptruck....and the area only screams out renters will trash their work!! Just be careful and picky with your venture.
2006-08-26 14:38:56 · answer #7 · answered by cypress9silver 2 · 1⤊ 0⤋
The housing market is in a downturn - not a good time to buy anything, run down or otherwise.
Get your financing in order and hold on buying for at least 12 months....
2006-08-26 15:51:15 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Have you considered buying the Sheets guy's learning tools that he sells on TV? It sure does sound appealing. Or maybe the local library would have them. I bet if it is a no money down type of plan it would help you out.
Good luck!
2006-08-26 14:44:00 · answer #9 · answered by NANCY K 6 · 0⤊ 0⤋
get a 110% mortgage the extra 10% should cover the cost of the work and finance the mortgage until sold... if you cant get one then ask a good friend who has a good credit rating and split 50/50
2006-08-27 01:45:04 · answer #10 · answered by Anonymous · 0⤊ 0⤋
Well if i were you i would robb other people who are in the same/simalir line of "work". Its quick and easy. just make sure you steal things alone or with a good friend.
2006-08-26 14:33:43 · answer #11 · answered by Johhny Doe 3 · 0⤊ 0⤋