View previous topic :: View next topic |
Author |
Message |
flatwaterfooter Newbie
Joined: 08 Jun 2005 Posts: 12
|
Posted: Aug 03, 2006 5:37 am Post subject: House Fliping |
|
|
Has anyone gotten into house flipping? I wanted to know what the hidden cost have been and what avenue you persued to find the house. Also did you do the work or contract people. I am very interested in getting into this any advice is welcomed.
Thanks |
|
Back to top |
|
|
|
ontrider Ladies Man
Joined: 30 Jul 2003 Posts: 16491 City: Russia
|
Posted: Aug 03, 2006 6:37 am Post subject: |
|
|
Hmm... closing costs, real estate fees, usually people underbudget on materials and even worse on time if they hire contractors. Hiring multiple contractors to work around each other can be a mess too if you don't co-ordinate well or if they aren't co-operative. You have to find the right places to begin with as well, and with real estate markets cooling off it's more difficult. |
|
Back to top |
|
|
J-Ro PityDaFool Who Posts This Much
Joined: 13 Jan 2003 Posts: 5662 City: Rocklin
|
Posted: Aug 03, 2006 6:42 am Post subject: |
|
|
flatwaterfooter, I have always followed this advice when it comes to investing. It works really well too.
"When your average schmuck starts investing in what you are invested in, it's time to sell" _________________ Steal My Book
Read My Blog
RIP Leggester |
|
Back to top |
|
|
chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
|
Posted: Aug 03, 2006 6:53 am Post subject: |
|
|
J-Ro,
flatwaterfooter, that ship has sailed my friend. You are about 4 years too late.
Here is a fun little site dedicated to the flippers that are losing their ass here in my area:
http://flippersintrouble.blogspot.com/2006/07/placer-2006-07-28.html _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006 |
|
Back to top |
|
|
ontrider Ladies Man
Joined: 30 Jul 2003 Posts: 16491 City: Russia
|
Posted: Aug 03, 2006 8:44 am Post subject: |
|
|
It's all those stupid TV shows that make people think, oh... I can do this and make some easy money. People are idiots, you still have to be smart about it and cover all angles. |
|
Back to top |
|
|
5280HighButter Soul Rider
Joined: 16 Mar 2005 Posts: 258 City: Littleton
|
Posted: Aug 03, 2006 10:02 am Post subject: |
|
|
flatwaterfooter,
You aren't just talking flipping you are also talking rehabbing. Rehabs are tough unless you have connections with contractors and know a good deal about construction costs. Flipping is still possible but the way many markets are turning you can only do it in certain places. Have fun:
http://www.reiclub.com/forums/index.php |
|
Back to top |
|
|
J-Ro PityDaFool Who Posts This Much
Joined: 13 Jan 2003 Posts: 5662 City: Rocklin
|
Posted: Aug 03, 2006 10:24 am Post subject: |
|
|
chavez, Nice find...interesting read. _________________ Steal My Book
Read My Blog
RIP Leggester |
|
Back to top |
|
|
chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
|
Posted: Aug 03, 2006 10:31 am Post subject: |
|
|
J-Ro, check out the main page for a good laugh:
http://flippersintrouble.blogspot.com/ _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006 |
|
Back to top |
|
|
|
|