2007-03-25 02:38:35 · 5 answers · asked by Peter M 1 in Business & Finance ➔ Renting & Real Estate
I think they all closed down since flippers are all losing money now (kind of like where are all the "new economy dot com stock trading websites"
2007-03-25 04:28:59 · answer #1 · answered by NYC_Since_the_90s 6 · 1⤊ 0⤋
To the first poster's point -- it's awfully risky business. You're exposing yourself to a huge potential loss in exchange for a comparatively modest gain. It sure sounds attractive, the proposition of paying $100,000 for a house that you can sell for $150,000 in a few months, but if anything goes wrong, you can really get hosed.
2007-03-25 04:51:24 · answer #2 · answered by trentrockport 5 · 0⤊ 0⤋
To the first two posters, I make money flipping homes, but I also have my own capital, and your right, you can get hosed if you use OPM (other people's money)....I often go to REIclub, but I have found they really don't know much.....I specialize in foreclosure auctions and they don't have a clue in that department.....But you may find them helpful....Best of luck!
2007-03-25 06:08:24 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The first two responses are wrong. If you know what you're doing, you'll have no issues.
Here's an excellent website that covers everything in investing: www.reiclub.com
Regards
2007-03-25 05:06:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋
http://www.breakingbubble.com/
2007-03-25 06:34:52 · answer #5 · answered by Anonymous · 0⤊ 0⤋