Can you make money flipping houses? How is the market in Ohio?

Answer 1

You can always make money flipping houses, IF:

1. You know your market intimately.
2. You buy at the right price, preferably from desperate sellers.
3. You can handle most of the refurbishment work yourself.
4. You have a flexible source of funding.
5. You can carry the note until the property sells.
6. You control costs to the penny and have an expert agent on the back end to handle the sales quickly.

Now is not the time to get into house flipping if you are not already an expert. The mere fact that you ask the question tells me that you are not.

Flipping is risky in a hot market. It's downright financial suicide in a down market for all but the most expert professionals.

Answer 2

A couple years ago this would have been a good way to make money, but right now the housing market is WAY down. It's very hard to sell a house for even what it's worth let alone make money from it. You'd be better off waiting till the market improves or if you can afford it pick up some cheap house that you can hold onto until the market improves.

Answer 3

Flipping may not be the best route to take right now due to the current market. The best way to make money off a flip is if you can sit on it for awhile and buy the home under market value. If you know people that can remodel the home for less then you'll get more equity out of it as well. Just don't try to buy, fix and sell quickly in this market unless you get the home for a very low cost and then sell to someone else for under market or right at the market cost.

Answer 4

SInce the market is down now i don't think that will be best idea, but when the market is booming i think it is great to pursue it....