Can you give me addice on flipping houses?

Answer 1

Basically you want to find a house cheap, that need repairs. Then fix it up and sell for a profit. You need to be careful, you can get more money into the house than it worth. When done correctly most people flip them in about 6 months. But, poor planing can cause it to take longer.
IF, you have some specific questions you welcome to email me and I try to help. I go look for a website now. Remember; it will pay to do some study in this and your really need to know a little about house repairs so workers you hire not do you wrong.
The two links are OK sites, many try to sell to you, say, buy for $10 and make $25,000, this is crap!!!! You need good credit and down payment money to buy the house! Then your HAVE to have the money to fix it or you be stuck in the mud with a house payment. You need to know your budget and abilities. I have friends do this, they may buy a Cozy little house for $30,000. Add $5,000-10,000 in repairs and sell for $60,000. That about $20,000 profit in a few months for them. It Husband and Wife and they can do much of the work themselves, which saves on Labor Expense.

Answer 2

properly, there's no better time to purchase than now. in case you have the credit and the money, take carry of up as many residences as you may. this is definitely a consumers marketplace. With that being mentioned right this is your caviat: this is a consumers marketplace! That menas, you will desire to not turn your residences in the present day, on account which you will not make a income. i could recommend, paying for residences that have little to no defects in them, you realize, residences which you will slap a coat of paint on and then stick a tenant in. you elect to lease them out in the present day and make a income on them so as which you will make a income at the same time as using out this marketplace. additionally, while the marketplace turns, it is going to be FLOODED with properties and your won't differentiate, so which you will would desire to holiday that out too. yet int hat time, you would be making waiting the homestead for turn; portray, upgrading home equipment, including on porches, etc. So while the marketplace settles, and the flood will settle speedier, exceedingly with FHA approximately to convey out their NEW FHA loan, which would be based for an better loan volume (at the instant at 213,750 optimum; they elect to be on the 417,350, with is our intense for a conforming loan. probable won't get that top yet will attain the three hundred's.) first time homestead consumers and such would be paying for residences if not immediately, they're going to initiate doing it gradually. So the priority you like is credit, money and staying power. additionally, you will desire to objective to purchase interior the midwest; proerty fee has been maintained interior the midwest and parts of the South. additionally, i could purchase clever; attempt to discover a highway the place there are numerous bungalows/ properties/ residences/ 2 kinfolk apartments on the line and notice in case you may not purchase the lot of them. with the aid of doing this, you may dominate that section, and while it comes time to sell, you will in actuality be the only placing the value selection on that highway; in essence, your properties will sell in accordance to what YOU offered your final one for. Get it? stable, now bypass purchase some residences! OO! very nearly forgot, attempt protecting your sources for 2 years in case you elect to avert Capital benefit which could be from approximately 15 to 18 p.c.!