can you still make a profit flipping houses even if you have to hire a contractor?

Answer 1

hire a contractor! Buyers are savvy and they can spot shoddy do-it-yourself work. If you buy right you can still make some cash.

Answer 2

Yes, most people do. Of course you wont make AS much as if you do it all yourself. But who has time for that? And who would know how or want to, unless you are an actual contractor. Anyway, check out this book I just bought. It's called Flipping Houses for Dummies by Ralph R. Roberts. It's cheaper if you order it off the Amazon instead of buying it from the store. I've read the first few chapters. So far, so good. Good luck!

Answer 3

If you live in Palm Springs Ca, or Florida, I would say NO WAY. The market is trimming down, but you can still make money in some area's. I would be very careful, if the DOW (stock market)hits 13000 I can almost guarantee you'll be stuck with that home.

I would look into foreclosures, they are steadily climbing. So many people we're sold homes on 6 month libor, 2 yr fix, 3 yr fixed loans that their all coming due and the rates are slowly climbing.

Good Luck

Answer 4

YES YES YES...most people don't use enough contractors I've done three and made profit of 10k and 13k on the ones I used a contractor and about 2k on the one i didnt because
1. you save time so less on carrying costs
2. less stress so YOU can think about the big picture
3. you don't have to redo anything
4. contractors never pay full price for materials
5. they know what sells.

Answer 5

I do maximum of my own artwork, it relatively will pay. i can do a roof in 3 days via some employed hard work (at say $25 an hr) for $1200 while a contracter would value 5-7,000. while you're no longer accessible, then you definately can nevertheless make money with contractors doing all the artwork, do exactly no longer assume to make the extensive greenbacks. you will additionally ought to have greater income develop, contracters do in comparison to "you will gets a commission while the domicile sells!"

Answer 6

I hire a contractor every time. I also make a lot of money, so yes it can be done.
Just buy the property at the right price, and you will be fine.
Good luck
Re Agent,
Remax

Answer 7

If you stick to your budget and don't get emotionally involved in the project you certainly can. Most people do hire contractors for certain things and do some things themselves.

Answer 8

Absolutely...it just depends on how much you buy the house for, how much you have to pay the contractor, and how much the house ends up being worth.
Just be careful...you don't want to get screwed over by a contractor that wants more than you can afford.

Answer 9

TV has made this such a fantasy world. For every dreamer that thinks they can make a fortune, 10 are losing their ***. YOU HAVE TO KNOW THE MARKET in a better way than just reading some Dummies' Guide.