What are the Pro's and Con's of Both styles of Investing?
2006-12-04 04:01:03 · 5 answers · asked by . . 1 in Business & Finance ➔ Investing
Flipping houses is a great profession to be in. I currently flip houses for a living, and have had a blast making hundred's of thousands of dollars. The key is to do as much work as you can on your own.
Did you know that you can make $40,000 + on a house, and never even own it?
Take a look at my website - I just put it online last month -
Please realize that Flipping Houses is not a "Get Rich Quick" Scam!
Do as much research as possible before starting on your first flip -
http://www.LearnToFlipHouses.com
Renting is also profitable - the best way to start in renting is to contact a real estate agent, and have them find duplex's that are already leased with positive cash flow. Then, find the owner - and work without the real estate agent. Talk them down in their price, and then ask for cash back at closing. This will cover any immediate repairs needing done.
Kind Regards and Good Luck!
Adam Monforton
2006-12-04 08:22:28 · answer #1 · answered by p3mofo 2 · 0⤊ 0⤋
I have not flipped any thing... The rental property thing is nice due to the fact that your tenant PAY for your property !! The downside is that most renters I have come in contact with are idiots, rude, and don't care if property is damaged. Renters are the bottom of the barrel in my small town. I know it could be different in big cities.
I am getting out of it soon, selling it all. Making a nice profit and that is all that matters. I will not be going into flipping simply because I am too busy with our contracting business to take on our own mess.
Good luck to you if you try either!
: )
2006-12-04 04:59:15 · answer #2 · answered by Kitty 6 · 0⤊ 0⤋
The basics is flipping is a fast pace high risk option, and renting out your house or multi-family is a long term and much safer.
You should ask yourself, if you can handle the pressure of a two month construction project, and then the risk of selling it...
I believe any investment should be considered as long term only.
Renting is better, but you deal with renters....who do not care about the property as you would...
So, i hope this helps...
I have 3 rental properties and I am 31...
good luck
2006-12-04 06:53:50 · answer #3 · answered by James 3 · 0⤊ 0⤋
in this market you won't be able to be effective you'd be able to promote proper now. it would want to might want to be a supply away (there are some) for flipping to make experience. The condo market change into undesirable there for awhile, each of the respectable renters were paying for homes. even if, that is turning round. in case you'll purchase an living house progression make effective there is already a mind-blowing funds flow. Many were offered for an more desirable fee contained in the terrific few years and persons attempt to unload them. seem over all of their place of work paintings heavily, nad get a broking service to assist clarify what you're searching at.
2016-11-23 16:12:20 · answer #4 · answered by ? 3 · 0⤊ 0⤋