Flipping Real
Estate Property for a Profit – Is it a Safe Investment?
May 9th, 2006
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Real Estate |
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According to ABC’s
20/20 there are a lot of people investing in real estate to turn
around and sell it to make a quick buck. They discussed a popular
“flipping” of real estate which is a real estate term that means to
quickly buy and sell a property for a profit.
Flipping real
estate for investing is popular among the new home housing tracts.
People line up the night before to get their chance at buying a property
for a new housing development. It is unlikely that they will ever live
in the property and they usually don’t even rent the property to keep it
in mint condition. As the property prices go up in value in a short
period of time they make a profit on the sale of the property.
ABC’s 20/20 report
said that the real estate market in Florida has slowed down and made it
harder to turn a profit. It has been a slower market taking 3 – 4
months to sell a home where before it would sell in 24 hours. Some
investors started renting the properties to stay afloat.
There is also
ability for a person to turn an old home that they paid at a discounted
price, fix it up and turn around and sell it for a profit. This still
happens, but it is a lot more work involved than the purchase of a newly
built housing tract.
If you are going
to get into real estate property flipping, you should know your market
really well. You have to way out the worst case scenario, and how much
you can invest in real estate. Being able to rent properties can be
helpful in keeping the investment strategy afloat.
If the real estate
market slows even more, you might look at getting into the older homes
that need to be repaired. With this kind of investment you need to know
the cost for repairing and painting the entire property to way out if
you will turn a profit.
Real estate may be
slowing down a little bit, but if you know your market well, you will
likely still make a profit. It just might take a little longer to
make the same amount of money.
Nicole Wilson
Best Syndication
Books on
Flipping Real Estate
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