Has Anyone Flipped Real Estate and Made Money???

@cabergren (1181)
United States
March 2, 2007 7:28am CST
Someone we know wants my husband and myself to help him rehab a house. Of course there is a financial investment. I have never done this before. Has anyone fixed up and flipped any real estate??? Have you made any money at it or did you lose money??? What do you think???
2 responses
@sasklily (240)
• Canada
3 Mar 07
I had two houses I used for rental revenue, and this isn't the same thing. I tired of fixing and painting constantly so I finally sold them. But I think that it's possible to flip and make a profit, if you can find a good recycling outlet for supplies. You can quite often find something that is just right. I think you would have to realize the time that will be involved, and it can be hard and dirty work. But then you never get anything for free. Good luck if you go ahead with it.
• United States
9 Mar 07
It is a big risk to flip now a days with the market being the way it is. I am sure that it is better in some places than others. I was looking into it for awhile after we purchased our first home. There is a website I visited frequently to learn more about it. There are people there that can help you along the way. You can catch investors in the rooms as well. You just need to sign up for it. It is free. Very nice place to meet people and to learn. http://www.creoline.com
1 person likes this
@mlhuff12 (799)
• United States
2 Nov 07
I don't believe that flipping a house is risky at all, that is if you analyze the deal before you make an offer. Putting in to accout the cost of repair, cost of utilities while being fixed and waiting to be sold, home inspection, appraisals and so on, and you don't want to forget to take out your profit. Taking all that out then it will give you your maximum offer. If you don't do any analyzing of the property at all than it will be very risky.
1 person likes this