i would like some information on how to get started from expeirenced investors who have succeded in this field. I have all the proper resources to flip homes such as: licensed plumber, a/c & heating tech, contractor, loan officer, and real estate agent. all i really need is some guidance and loyal investors. any ideas....
2007-06-26 02:54:32 · 10 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Ha!
If you gotta ask, you ain't ready.
Keep watchin the home shows on TV.
Good Luck!
2007-06-26 02:57:58 · answer #1 · answered by Jeff the drummer 4 · 0⤊ 0⤋
You are past the time frame in which it made sense to try 'flipping'. As others have stated, the market is currently flooded, and values are still going down instead of up.
From USAToday a few days back:
With buyers jittery and mortgages harder to get, sales of existing homes fell in May to a four-year low, and the median price dipped for the 10th straight month, the National Association of Realtors said Monday.
There's no relief in sight for sellers for at least a few months, because the inventory of homes for sale has swollen to an 8.9-month supply, the highest in 15 years. Homeowners will likely have to cut prices further to entice buyers.
"The housing market may not be in a free fall, but it has not hit bottom yet, either," says Joel Naroff of Naroff Economic Advisors.
Do you REALLY want to get into this with the market in its current state ? Think this over very seriously before going forward.
2007-06-26 03:24:58 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
Hey here is the greatest idea! Try the company I use to do all my flipping with. They crunch the numbers for you, do the work for you , Everything!!!!!! Visit their site fill out the sign up form, from that point they will call you back and offer to make you a profit projection analysis, which basically would be a tailor made investment strategy plan for you! They will help you make your desired income that you want a year , they guarantee the investments that you make which takes out the risks for you. I was skeptical at first because everything has a risk but once they gave me the paperwork I understood everything! here is the web address!
www. kjonesrealestateinvestment .com
Good luck!!!!!!
2007-06-26 08:32:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Easier said than done. You should only do this if you can afford to lose what you invest. In most parts of the US, the housing market is flooded with homes no one wants to buy right now. It's a great time to buy, IF the prices don't continue to fall. Who are you going to sell these homes to? What if you get stuck with them? Can you afford that? A lot of people who thought they were investors and tried to flip properties are foreclosing on their mortgages now.
2007-06-26 03:00:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Right now you need a large pile of money that needs to be trimmed down to a small one. Making money flipping houses is extremely difficult right now since there are way more sellers already than buyers. The first and main resource you need is money the rest are easy to come by.
2007-06-26 03:03:28 · answer #5 · answered by rshiffler2002 3 · 0⤊ 0⤋
Hey Susie,
Eat, Sleep, and talk real estate!
A little bit of humor.
Look into several local real estate associations and find the one that best suits you for your needs. (Watch out for the scam artists within the membership.)
Check out this website:
www.thecreativeinvestor.com
Do not spend $1,0000's on boot camps or on investment Books/Cd's from Gurus!
The way to learn is from the trenches of real estate and that is by being in deals that makes money!
The question to ask yourself is.... Do you know how to crunch numbers? Do we do it for PROFITS or LOSSES?
Success To All,
John Lopez
realestatemichigan@yahoo.com
313-258-1001
www.MichiganInvestorNetwork.com
www.CurbSideInfo.com
2007-06-26 03:54:00 · answer #6 · answered by realestatemichigan 3 · 0⤊ 0⤋
the actual sources marketplace is swiftly dropping enterprise, so i do no longer know if it fairly is the final place to take a place your money top now. and that i characteristic a small area of the concern to living house flippers who take low value homes, and turn them into homes that basically a small phase of the inhabitants can arise with the money for.
2016-10-03 04:01:45 · answer #7 · answered by Anonymous · 0⤊ 0⤋
fiind a mentor who is already in the business in your area.
S/he probably needs more eyes and hands in this market [lots of foreclosures to look at] and would be willing to take you on and help you make decisions.
Personally, I'd want to set up a partnership with this person to record you deal and make sure both parties have both capital and sweat in the deals.
GL
2007-06-26 03:01:03 · answer #8 · answered by Spock (rhp) 7 · 0⤊ 0⤋
There is a free guide below that may help you with your questions on flipping homes.
2007-06-26 05:08:59 · answer #9 · answered by Tom V 1 · 0⤊ 0⤋
Get some money
2007-06-26 03:28:51 · answer #10 · answered by Anonymous · 0⤊ 0⤋