is it more realistic to be a landlord or a house flipper?

Answer 1

depends on conditions in your market and how cheaply you can buy a house. my house has been on the market 6 months with no buyers--if you try to flip a house and this happens to you, it's deep trouble. but if you can't get a good amount of monthly rent, it's just as bad. I think u should be very cautious about jumping in the real estate market.

Answer 2

Almost every wealthy person will tell you (maybe not!) to buy and hold property. One investor told me she would eat Ramen noodles for a month before she would sell one of her rentals!
I on the other hand, like instant gratification and quick returns!
My husband and I made 40 or 50,000 in a year or two on 2 or 3 flippers. It was fun, we went to Hawaii, took a cruise, gave away a lot of money, etc. Then came tax time...... 13,000.00... and I was a REALTOR so had lots of deductions.

So it depends, short term wealth or long term.
My friend has much more wealth than I do, but we managed apartments for 6 years and swore we could never stand to do it again!

The other question is what market are you in? We did this before the TV show made everybody and their dog try it. Also, you have to have a banker who loves you or cash to get these properties because it is so competitive.
I am sure there are websites that give you guidelines on what to spend and what it will cost. You must be very savvy about how much it will cost to refurbish these places. We bought for 29000.00 and sold for 69000.00. Don't think that would be possible today because of competition and rising home costs.

Good Luck and have fun!!

Answer 3

That relies upon on you and what your stable characteristics are. while you're certainly one of persons that choose for a secure activity, artwork for somebody else, be attentive to each week what your revenues would be then your suited wager is to advance right into a property supervisor. while you're one that choose for to make his/her own judgements, take calculated unfavorable aspects, be your person boss, no longer shrink your self as to how plenty you'll be able to earn each 300 and sixty 5 days then you definately supplies you abode flipping a bypass. undergo in recommendations that no one is gonna see you jogging down the line and immediatley be attentive to which you're a house flipper and searching for residences to instruct. So make certain you have a stable advertising plan to entice potential purchasers to your organization. in case you do not have money to at latest to take a place in flippers, then you definately might desire to crawl earlier you stroll, which you'll be looking residences and wholeselling them to investors with extra money than your self. this continues to be useful by using fact which you will discover as many residences as you go with for and wholesale them to different investors for $5000 up observing the fee you negotiated and the linked fee of the valuables. So doing this interest this is discover, wholesale and shop, so which you will at last rehab what you detect. you additionally can bypass to the closest e book keep and discover books and purchase some on flipping, rehabbing and looking out misery residences. show your self then you definately would be attentive to precisely what to do and the thank you to do it. the two positions are existence like and sensible, you'll be able to desire to choose as to which you think of extra healthful you and what you go with for to do. i'm hoping this has been of a few use to you, stable success. "combat ON"

Answer 4

by and large the real estate market has softened up considerably. That means that unless you get an unusually good deal on a property you are unlikely to see any significant appreciation in value in a short period of time which would make "flipping" a property worthwhile.

Answer 5

I feel being a landlord....with the rate people are going into foreclosure the renting business is BOOMING so you'll have more stability there then house flipping