2007-05-06 11:27:15 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Anytime is a good time as long as you make a reasonable profit. It is in a downward trend so you can expect that any property you buy today is going to loose more money before the market bottoms out.
2007-05-06 11:43:39 · answer #1 · answered by ttpawpaw 7 · 0⤊ 0⤋
Although this is usually a good area, now is not the best time for someone without a lot of experience in flipping properties. Real estate prices have flattened out a bit which means that rapid gain is less likely. Unless you have construction/remodeling skills yourself, you will find it hard to get reliable contractors at this time of year. If you feel you must flip, then get as much prearranged as possible so that you spend minimum time waiting for things to be ordered and get done. One curious thing about TV shows on flipping is they don't show the delays that occur when waiting for city planning inspectors to come out to check each stage of your work. Believe me, waiting for inspections can eat up time which equals money. Good luck with your venture.
2007-05-06 18:38:43 · answer #2 · answered by not the real me 4 · 0⤊ 0⤋
Yes that house will flip you right into Bankruptcy
2007-05-06 19:11:58 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It is an awful time to flip.
You are better picking up houses to rent.
2007-05-06 19:14:33 · answer #4 · answered by Anonymous · 1⤊ 0⤋
The bad times have just begun.
http://www.youtube.com/watch?v=QqkbHV3C9L4
2007-05-06 20:24:46 · answer #5 · answered by jpifher 1 · 0⤊ 0⤋