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 ce

Answer 1

You sure can! Its called 'flipping' and ppl can make alot of money doing it, they can also lose money doing it too so be careful. there is a show on tv called FLIP THAT HOUSE or something like that. you should check it out!

Answer 2

You can do exactly what you are suggesting and there is no regulation that you own it for a specific amount of time.

Doing so for a profit is all about buying at the right price and managing the improvements so that you deliver on time and on budget. You also have to know your market so that you do not end up sitting on the property after the work is done.

Get in, get the right work done and get out.

There are a number of books on the topic. Many people do this sort of work full time as their only source of income. There are a number of risks so do your homework.

There are tax implications and other details that you need to consider.

Answer 3

well yes you can..
it is best to get a loan buy a house and fix it up to sell it before the first note is due. Or pay cash and fix it up and up it back on the market for profit.
You would need to do your research for the type of house and neighborhood you're looking into before you do the remodeling so you don't over fix.
So say you buy a house in a middle class neighborhood for 80,000 and most of the houses in that area and size sale for say 120,000 all fixed up you don't want to do so much fixing up that the 80,000 dollar home you just bought will out price all of the houses in that area. You may not get your money back.

Gooddd Luckkk

Answer 4

Absolutely... Different states have laws to follow to accomplish this however, you can absolutely buy a house today for a dollar and sell it next week for 5 bucks. Keep your receipts on all renovations to prove the revised value. Often times a buyers bank will also requests documentation, so when you flip be prepared to dance. Documentation is the key to a successful investment such as this.