So, can you buy house, then fix it up, and sell it for a higher price to make profit? Or you have to wait a certain months before you can sell a house.
2007-03-04 16:37:38 · 8 answers · asked by johndc27 2 in Business & Finance ➔ Renting & Real Estate
it can always be done...you just have to find the right seller who is motivated enough to sell you that home at a low enough price so that you can make a profit...
depending on the market conditions it wouldnt really matter which month you decide to sell that house (of course it would be optimal when the weather is good and the house shows well) but the key is to buy in at the right price
2007-03-04 16:43:48 · answer #1 · answered by rakemonster 3 · 0⤊ 0⤋
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2007-03-07 04:55:26 · answer #2 · answered by Anonymous · 0⤊ 0⤋
My parents used to do that to every house we lived in, we
moved once a year. For many years...and they made alot of
profit from it. I'm pretty sure, as long as you can pay off that
bank note...they don't care, cause they'll be making more $$
on the deal too. Just tell the bank, that is what you want to do..
Flip a house..and make a profit. Banks love that. Good Luck.
2007-03-04 16:48:23 · answer #3 · answered by CraZyCaT 5 · 0⤊ 0⤋
Warren Buffett has a very good track record with Berkshire Hathaway, however, past performance is no guarantee of future returns. Additionally, expertise in one arena does not make a person and expert in the housing market and profitability. Buying houses and selling them for profit could provide significant profit, but if your timing is not perfect, and the interest rates increase in five years, then you could be stuck with "inventory" and no buyers who would qualify to purchase your "inventory."
2016-03-29 00:32:53 · answer #4 · answered by Marilyn 3 · 0⤊ 0⤋
You can do exactly as you want with the house. If you sell it in such a short period of time and the house is not your primary residence then you will have to pay capital gains tax on any profit you make.
2007-03-04 16:42:38 · answer #5 · answered by k_hart100 3 · 0⤊ 0⤋
yes you buy a house fix it up sell it for profit people do it all the time its call flip that house
2007-03-04 18:41:44 · answer #6 · answered by pattibcacl 6 · 0⤊ 0⤋
It's legal. People do it for a living. Check your cable guide so you can watch Flip this House to see what they go through. It's not all that easy and the people on this show are "Professionals".
2007-03-04 16:47:12 · answer #7 · answered by bernel1403 5 · 0⤊ 0⤋
Certainly. People do it all the time. I knew a family that bought a house every year, renovated it and then sold it for twice what they paid for it.
2007-03-04 17:02:48 · answer #8 · answered by amishpantry 3 · 0⤊ 0⤋