Thread: Flip That House
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Old 11-19-2006, 11:59 PM  
HeadPimp
Bad Mo-Fo
 
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Join Date: Jul 2001
Location: Seattle, WA
Posts: 2,772
Flipping houses is a bitch! Unless of course you have a serious bankroll and resources to buy properties with cash and get 'em fixed and on the market on schedule. I am not saying that it can't be done, but it is difficult for the first timer to pull off and make a profit on.

Best bet is to get a good bankroll, or a partner with cash and plan on going over budget and double your schedule to get the work done.

Also remember that your selling costs will be 8-10% of your selling price and you will pay increased capital gains on what you do make, provided you are honest about it. Factor that into what they usually make on those shows and they dont look so hot any more.

With that said, if you have some cash to play with, I have a crew ready to roll and a real estate agent sitting here next to me.
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