subject: Why House Flipping Still Works [print this page] Why House Flipping Still Works Why House Flipping Still Works
The banks are trying to slowly release the massive list of foreclosures. What everyone thinks is going to happen, once they release these lists, is that the market is going to go back down.
However, if you're an end user, an end buyer, right now is the best time to be buying real estate. The housing prices are not suddenly going to be getting better. If you're not in the game, you should be getting in the game to buy real estate.
If you're going to make good money in this, you're going to need to be educated. If you don't know several different ways on how to exit out of a property, you should never walk into a property to flip it.
To get financing, FHA is a huge asset, especially to those with low credit or even no credit. There are the conventional ways, to go to the bank and get a loan, but the banks have such high standards these days that people are unable to get the loans they need to flip a house. FHA gives those loans, based on certain requirements.
Some great ways to get the most 'bang for your buck', you should make all your houses look the same in a 'cookie cutter' way. All the same color, same appliances, same everything in every house. Don't get attached to the house. You can get the same, cheap appliances, paint, carpet, everything in every house and it will not only save you money, but it will also relieve the stress of being an interior designer, which is not in your job description as a house flipper.
The biggest thing is, to educate yourself to the max. Just watching a reality TV show will not make you an expert on flipping houses. Get the education you need in order to flip a house successfully.
