By Alan Brymer
Real Estate Investing – There has been a lot of controversy about “flipping” houses in recent years. Is it legal? Is it perfectly fine? Well, it depends on who you ask, and more importantly, what their definition of house flipping is.
Here’s the common definition of house flipping: Buying a property, doing repairs if needed to put it in great shape again, and selling it right away for a profit.
Now how could there be anything wrong with that?
There isn’t. I have done it dozens and dozens of times, and it’s my preferred method of investing. There are always houses you can buy from motivated sellers under market value, whether the market is hot or cold. People always have financial problems and may want to get rid of a house for a lot less, for any number of reasons.
Sometimes the houses don’t need any work at all! I have literally bought some houses one morning, and listed them for sale the same afternoon! So keep in mind that not every house you are flipping has to be a big fixer-upper.
The problems with flipping houses come when there is dishonesty involved, such as lying to the seller, lying to your lender, lying to the buyer, and so on. So yes, there’s an illegal and a legal way to flip houses, just like anything else.
So many shady investors have “flipped” houses when there was fraud involved that a lot of people associate all flipping with being dishonest. This is unfortunate, but is really just a matter of semanticsso don’t let it get to you.
Call it what you want and let people have whatever attitude about it that they will, but don’t let other people’s crimes keep YOU from flipping houses yourself. So, I’ll say it one more time. It’s not only totally legal to buy a house and sell it again immediatelyit’s a really, really good way to get a big paycheck within a couple of months.
Click Here:StinkyMarketReport.net In this FREE digital book, learn the secrets that a $100,000,000 real estate investor has discovered about making money in a slow market, by understanding how market cycles REALLY work. Or, for info on Alan Brymer, go to www.AlanBrymer.com
Real Estate
for sale by owners
Related Websites -
Millions of U.S. borrowers owe more on their mortgages than their homes are currently worth! [/caption] CNNMoney had an article last week titled 7.5 million homeowners 'underwater'. It's primarily a breakdown, by state, of what percentage of mortgages are higher than the value of the underlying asset. The technical term for this is negative equity, but it's also know as being underwater or upside...... -
Making Your Money Back: Similarities between the Tech Bubble and the Housing Bubble This post is a summary of a private discussion I've had with reader Josh regarding my post on spotting investment bubbles. He asks: When could I reasonably expect my Atlanta condo to be worth what it was 4 years ago when I bought it? I thought the discussion and similarities...... -
Real Estate Photography- Ultimate Exposure to Earn Profits From Your Property Firm Real estate photography is a new, exclusive initiative to promote international property business to inspire by the theme Development, Nature and Architecture. Real estate photography leads to increased competition in the photographic market. Most of time people would likely visit their property for sale because of the attractive images.Tips...... -
Seeking New Investment Options in a 401(k) Plan Recently I wrote a piece on how a 401(k) plan can make lousy retirement plan. One of the reasons I cited is the lack of high quality investment options in the plan. The missing qualities can include low-cost, variety, and suitability to changing market conditions. A Visit from the 401(k)...... - Housing Update From WSJ Todays WSJ had a decent article on housing, 'Housing Glut Gives Buyers Upper Hand'. Seems like certain parts of the country are in for a bumpy ride. Here are some excerpts.*A quarterly survey of housing conditions in 28 major metropolitan areas by The Wall Street Journal showed that the inventory......
You must log in to post a comment.