2007-03-24 10:59:47 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Absolutely.....But the most important is having your own money.....Many flippers fail because they borrow money to buy and have to sit on the property for 6 months, and make the mortgage, insurance, water, gas and electricity payments.....That can eat up your profit very fast....You do the math!
2007-03-24 16:37:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You are most likely to succeed if YOU are the contractor and not paying an outside contractor. Rehabs are expensive if you have to pay someone a market rate wage.
2007-03-24 18:03:05 · answer #2 · answered by Anonymous · 0⤊ 1⤋
If you've got all that, and the assumption is that you do, then Yes you are likely to succeed.
But the question then becomes, how certain are you that you have all these things? Let alone what happens if you don't and what you may not know about the property in question.
Good Luck.
2007-03-24 18:04:09 · answer #3 · answered by Crighton 3 · 0⤊ 1⤋
I have answered this for you about a dozen times. Stop asking it.
2007-03-24 18:33:58 · answer #4 · answered by frankie b 5 · 0⤊ 0⤋
SAME QUESTION AGAIN?
2007-03-24 18:02:39 · answer #5 · answered by cork 7 · 0⤊ 1⤋