2007-01-18 11:52:37 · 5 answers · asked by hooger2500 1 in Business & Finance ➔ Renting & Real Estate
When renovating and flipping houses is what you intent to do, then you will be investing for capital gains. When you're investing, the cost of the investment should not be you rmain factor for choosing the investment. If it is a good pick for and investment, money will follow it, no matter what it costs.
It's just like during the Great Depression and high inflation of the 80s, people still bought million dollar homes from someone that sold it to them for millions. Like I said, money always follows a good investment.
2007-01-18 12:03:02 · answer #1 · answered by Muga Wa Kabbz 5 · 0⤊ 0⤋
if the house is on the market 6 months will u lose all the profits paying mtge and taxes? what if u have 2 cut the price? u have 2 be prepared 4 this sort of thing
2007-01-18 13:14:46 · answer #2 · answered by njyogibear 7 · 0⤊ 0⤋
those stupid yellow indications that say such issues as "We purchase any domicile" are your ideal wager. so a procedures as searching economic corporation repos, in case you don't like the sheriffs auction(thoroughly different than a tax auction, regardless of if both are done through the sheriff.) the REO's are a superb source. I choose those because you may really seem on the domicile you're identifying to purchase. maximum banks take 80 one% of their list cost. REO's are properties that did not get an furnish or to low of an furnish on the sheriffs auction, so the business corporation took administration of them. the perfect bargains, regardless of the indisputable fact that, are going to be the houses on the verge of foreclosure, that the determined proprietor of a house sells to you, and those indications are information on a thanks to locate them.
2016-10-17 02:09:56 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Yes, it is just harder. Now you have to find a place that is priced to give you the equity needed right away. Before you could buy with a little equity, fix up and make huge profits. Now you have to ourchase with a lot of equity to fix up and sell for good profit.
2007-01-18 12:03:06 · answer #4 · answered by Ron B 3 · 0⤊ 0⤋
It can if you can buy at a significant discount to market value. There's a saying - "you make your money on the purchase, not on the sale."
2007-01-18 16:19:21 · answer #5 · answered by Anonymous · 0⤊ 0⤋