House flipping is one of the easiest ways to make money from the real estate market. However, you need a lot of money to get started with house flipping business.
Benefits of house flipping
- Thread starter Ralphjoe
- Start date
House flipping is not a bad business idea if an agent understand his business very well. You can buy an auction house and made good profits from it provided that you did not buy an expensive house at flipping, you must make sure that the condition of the house will not require a lot of money to renovate.
If its possible acquiring or securing a house through auction. Then reselling it will be a bigger margin cos it will come with price topping up cos the auction comes with price cut down.
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I haven't heard anything about house flipping entirely before but Haven read what the first person said in this conversation it really moved me and I definitely understand it now.
That's true, what you said about the house flipping benefits and also this business would be good for those that like to travel as you can buy any house in anywhere in the country and get to be in plenty places.
This reminds me of a childhood friend who lived in our village for a time then they moved to a far away province. His father was into house flipping. They would buy a house and live in it while their former house is being sold. Then they will again buy a house, improve it and live in it for a time before selling it again.
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I don’t really think all those are truly negatives to house flipping
Buying and keeping real estate and flipping houses are two separate financial techniques. Real estate ownership allows investors to build wealth over time while avoiding the ups and downs of the stock market. Although flipping can give a rapid return on your investment and eliminate the headaches of finding tenants and maintaining a home, the expenditures and taxes associated with it can be significant.
A lot of people cannot get into flipping house because first of all you need to invest in house, then only you can flip the house for higher profits. You need a lot of money
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I'm sure there would be some level of exposure the friend has more than his other peers who don't move around although it shouldn't get to much so as not to affect one's education.
there is also benefit for house flipping because you can change your environment and area through house flipping and most times you can flip a big house for a small house and get additional money for that.
Flipping a big house for a small house might be inconvenient especially if it is a personal house because the space would be lesser so it's advisable to have houses apart from personal house for flipping.
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It is correct @Sincerem , when acquiring a home at auction costs are minimized, although if you must make repairs will cause expenses, the return on investment will be rewarding. So it is a very good idea to make such an investment and receive good returns.
When going for auction house, I'll take a survey round the house if i have realistic chance of making profit better than my auction invested funds, if its worthwhile I'll go on and invest.
Excellent, I love that you seek in any way you can to get rewarding returns. If you go to any auction site with those intentions and you have the capital, I'm sure you will enjoy it. As far as I'm concerned, for now it's inaccessible financially.
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Benefits of house flipping
Potential to Make a Good Profit. The most obvious reason for flipping a house is to make money.
Personal Development. Though it will take a lot of time and money, there is a lot of valuable experience to be gained from flipping a house.
Rehabbing Homes is Rewarding.
Potential to Lose a Lot Money.
Stress.
Where to Start.
Potential to Make a Good Profit. The most obvious reason for flipping a house is to make money.
Personal Development. Though it will take a lot of time and money, there is a lot of valuable experience to be gained from flipping a house.
Rehabbing Homes is Rewarding.
Potential to Lose a Lot Money.
Stress.
Where to Start.
Well for one there would be huge profits because the house was bought cheap and minus the money used to make it better there would still be a fine sum left as profit
Yes, going into it with the right capital and bidding the highest will earn me such property on auction level. As i said i can't bid more than i can earn.
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The benefits of this kind of venture is very rewarding,especially if the property is been put in a standard condition inorder to raise the selling value,if you have the time and patience you can lease it or possibly sell it off at a very good rate that will guarantee your profit back.
Of course, if the cost is too high, you have to let it go, otherwise the gains will not be substantial. I am very attracted to auction sites, as the prices are affordable in terms of the real cost.
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