Zillow Advice: Investing - Will "Flipping" ever return?

REblogger. Welcome to Z. ...

Fri, 12 Dec 2008 21:52:00 GMT

REblogger. Welcome to Z. However, spam is not allowed. These boards are for discussion only. Thanks!

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Fri, 12 Dec 2008 20:20:00 GMT

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Investing in real estate can be an investment as well as income. Now is the time to invest in real estate. I agree with Jacqueline. I have flipped 25 foreclosed homes in the last two years in the Washington DC area. If you are not emotional, do your homework, and pay attention to market changes in property values, you can make money.

Thank you Jacqueline.

Wed, 10 Dec 2008 21:52:00 GMT

Thank you Jacqueline.

I came to say a lot of stuff ...

Wed, 10 Dec 2008 20:40:00 GMT

I came to say a lot of stuff but looks like Jacqueline hit good enough for me....I second that, sell on Ms. Walker, sell on. I too have investors flipping in this market and making a killing, I am just glad to be along for the ride.

There are flipping opportunities ...

Wed, 10 Dec 2008 06:18:00 GMT

There are flipping opportunities in every market...yes...even this one. I have several investor clients who make money buying distressed property, making key improvements and then selling withing 2-3 months. The key to flipping in any market is thorough research and analysis of the property, its condition, cost of improvements, the neighborhood and the potential resale. Many residential home Buyers do not have the appetite for the lengthy short sale process and its uncertain outcomes, but the savvy investors who make decisions based upon numbers not emotions can get some great deals.

Thank you, BungalowMo! ...

Tue, 09 Dec 2008 05:22:00 GMT

Thank you, BungalowMo! (love the name, by the way)

IntownAtlantaAgent wrote: ...

Sat, 06 Dec 2008 16:44:00 GMT

IntownAtlantaAgent wrote: "I do hope that the 'fly by night' flippers stay away -- they could take a gorgeous 1920s Craftsman bungalow, strip it of all the character, and make the interior look like a double-wide."

Being a ca 1920 Craftsman Bungalow owner, I couldn't agree more!! The last thing I'd have been impressed by is a ceiling fan in place of this in my dining room:

Or lowes lighting in place of this on my porch!

Flip an 80's cookie cutter...no one cares. Flip an historically intact home...just plain evil!!

Phoenix is not a market that ...

Tue, 02 Dec 2008 19:16:00 GMT

Phoenix is not a market that investors can make money in flipping houses. The numbers don't work.

I do these deals on a weekly basis with no end in sight. My investors buy foreclosures for cash at $40,000 - put $15,000 in to the property - and then sell them for $85,000 (Fair market value = $105-115,000) 3 months later to someone I have qualified for an FHA loan...how is the money going to run out?

Not to mention the ability to buy REO's in Indiana for $10,000 with appraisals at $90-150,000 and my ability to do FHA nationwide!!! If you look at median income and housing ratios there the numbers work all day long. The same holds true in Atlanta and North Carolina.

The system we have in place combined with the amount of foreclosures on the market today means I will have business for the next 2-3 years by my estimation.

Flipping will always be around whether people like it or not - its the investors not knowing how to do them that needs to go away.

At some point doesn't the ...

Tue, 02 Dec 2008 06:08:00 GMT

At some point doesn't the holding period make it not a "flip"?

Flipping is possible in certain markets at any period (I have posted those potential flips previously, recorded sales), but the risk in flipping at this point far outweighs the potential profit.

Flipping is fine, until you ...

Tue, 02 Dec 2008 05:28:00 GMT

Flipping is fine, until you land on your face.