are flipping houses a good and safe investment in other words are you likely to succeed?

Answer 1

This time next year you can have one million dollars. All you have to do is start with two million dollars and not spend more than half the money.

http://www.breakingbubble.com/

Answer 2

Hi Tie,

Yes flipping houses is a safe investment if you follow a couple of rules. First, no big earnest money deposits. Second, try to partner with someone who has more experience and can teach you in your market. Third, get some education on the subject. William Bronchick has a book on flipping properties that costs about $20.00 from the bookstore or free at the library. But the most important skill is the ability to tie up the house below market value. Even though real estate has peaked you can still pass on a good deal if you can tie up or option a property which is below market value.

Good Luck Tie

Answer 3

Flipping houses has an element of risk. If the market conditions change, you may find yourself holding property that is overvalued and you won't get your money back. Also, flipping houses depends on quick turnover and if you don't manage to sell your property quickly, you will be responsible for monthly payments. If you hold several properties, this can amount to a considerable sum. If the market goes in the right direction, and you've bought into a 'hot' area, flipping can be a great investment, but there is always an element of risk.

Answer 4

in addition to all that was aid before I posted I would encourage you to find a Realtor who REALLY knows that area or do A LOT of your own research with recent sales in the last 24 months.

For example, you buy a home for $100,000, then put $45,000 of improvements into the house and try to sell if for $200,000. In a neighborhood where the average home sells for $210,000 when there has been major work done to upgrade the bathrooms and kitchen then you got a great deal.

Now if you take the same example and the average home price is only $225,000, even with a new kitchen and bathrooms you go hosed.

This is where knowing the neighborhood is critical.

Answer 5

You should search the questions before you ask. This question must be asked 10 times a day.
I always give the same answer. There is a lot of money to be made in flipping, but it is not with out ts risks.
Find yourself a well qualified Realtor who can help you buy the home at the right price. That is the key to the flipping process. Buy low low low. You must have a Realtor who understands this, and is not afraid to put in the offers you want to.
Good luck,
Re Agent,
Re max

Answer 6

Tie, you've been asking this question all day long, I've even given you links on what to look out for, so let me resolve your dilemma before you flip
I watched, before you were born, this guy sell smooth river rocks in a box with instructions on how to take care of the rock and he made millions on it. It was called the "pet rock" so the moral of the story is, if you are smart and you find your nitch you can do it (water boy movie)