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And I was also wondering if that is a career also and if its a good one.

2007-03-03 16:58:23 · 14 answers · asked by KRAYZE KOOLiE 1 in Business & Finance Renting & Real Estate

14 answers

The house flipper would be called a Real Estate Investor. A career in House Flipping can bring you plenty of rewards if you are willing to be on top of the game. The key to this Industry is staying on top of great Agents and Finding Houses that you are able to work with it. If you are new to this, first thing you need to do is to figure out your Financial Investment Perspective, Get Group of Contractors (Electrical, General, Plumbing) that you can work with and are willing to assist you. Also you need to find genuine Real Estate Agent with great experience who can give you a great perspectives and shed what if-scenarios.

Bottom line, If you are motivated, Go for this, but remember results are not as easy as seen on TV. If you are willing to put in efforts and work smartly, you can make tons of $$$$$$$

2007-03-03 17:08:33 · answer #1 · answered by prarthitv 2 · 0 0

1

2016-12-23 00:59:25 · answer #2 · answered by Anonymous · 0 0

Another word for a "House Flipper" is an 'Investor'. Being an Investor is a very good so-called "career" if you know what you are doing and have smart people representing you. Typically you would buy a property that is priced below market value, fix it up, and then sell it or flip it at the market value and make back the money you spent on upgrades plus some and use that money to "flip" another property, etc. etc. The idea is to always have a net return and build your bank account.

2007-03-03 17:33:19 · answer #3 · answered by melissa h 1 · 0 0

The name for such a person is "speculator." This is because they are speculating that they can purchase, rehabilitate and sell the property for a profit within an extremely short period of time. This period can be a week or two, but usually doesn't extend much beyond a couple of months. Though if they are living in the property, it can extend longer.

An investor may do all three, but purchases a property with the intent of holding it for a longer duration.

I have purchased houses below market value, generally rehabbed them and rented them out. I have invested for the future.

Flipping speculation is hyped if you ask me. Everyone loves a risk taker, and we get to live vicariously through their experiences.

You can do it with the right house, in the right place, at the right price and at the right time.

If you think you can pull all four of these together and make a profit, then . . .

Good Luck

2007-03-03 17:16:31 · answer #4 · answered by A_Kansan 4 · 0 0

One who buys homes for cheap because they are run down, not updated, and not to inspection standards. They fix em up and sell them for usually a lot more than what they paid for it without having to put too much money into it therefore making a pretty good profit.. You can make really good money but at the same time, you need to be careful too. Some do make it a career and do very well, some don't. It is a gamble, so many things depend on the re-sale of the home, i.e. housing market in the area, what type of area it is, schools and so on. And not to mention it's a lot of work! The home we bought was totally re-ferbished. They paid 40,000 for it, and tuned around and sold it to us for 160,000. Good Luck!

2007-03-05 04:20:06 · answer #5 · answered by CF 1 · 0 0

I think a house flipper is a good name for them! It can be a good career, but you assume a lot of real estate market risk...

2007-03-03 17:01:43 · answer #6 · answered by Anne 4 · 1 0

usually called an "investor". If they specialize in fixing or modifying homes to improve their value, they usually are called a "rehabber". If they find under valued homes, put them under contract and sell their contracts, they're usually called "bird dogs". However, the term "investor" encompasses all these terms.

It's hard work, but if you're gifted in determining value and have the social and negotiating skills to make deals go through, then you'll be fine.

Regards

2007-03-03 17:05:36 · answer #7 · answered by Anonymous · 0 0

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2017-03-08 13:51:26 · answer #8 · answered by ? 3 · 0 0

This is not new..I have friends who do this....its not difficult, but you have to be willing to work. Certain houses are profitable if you can do the math. Just dont play with the ones that depend on the real estate market for profit...this is where it gets tricky and risky...

2007-03-03 17:36:49 · answer #9 · answered by Anonymous · 0 0

good question!
house flipping is a really new thing so i don't think they have a name for it yet.

i've heard you can make a living at it if you know what you're doing, but in Canada, the government has caught on and will only allow you to "flip" two houses per year or $100 000 per investement before you have to declare income on the benefits.

another way for "them" to get you for your hard earned dollars!

eh?.


.

2007-03-03 17:04:14 · answer #10 · answered by Gingersnap 3 · 0 0

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