OK did everybody hear the KEY sentence?
“They just paid full price for the home” Well, how do they expect to make any profit paying full price to start with?
The DEAL dictates the profit NOT the market.
lol, reality can be percieved as negative if your negative nanaja. if you dont agree with what he said lets hear some constructive crticism cuase hes right on the mark.
The formula to make money is ARV-30%(or 25K)- Repairs-
5K(For me)= The most money I offer for a house! This is then called a deal! From 50 offers 1 person may exept, the thats the 1 that bring pay day!
Flipping can go ill-treat somtimes. One word- RENT! If you flip & sell it, you build income. If you hold onto the property & rent it, you build net value.
Remember people, reality television is whatever thing but real. There something called editing in the land of TV. And it is what they don’t show you that you need to see.
The only way to flip a house profitably is to find a seller desperate enough to sell you his house at a price far not more than market value. Market value is what the price of the house considering its condition, whatever that may be. If a house needs $100,000 in work to bring it up to $500,000, then the market value is $400,000. Sellers are not stupid. They will sell it at $400K because many buyers just want it to reno and live in, not flip. Those people will pay the $400K. It will not sell for $300K.
yes it is harder to flip now than last year but there is still room to make money i just closed on my 3rd house this year BUY FORECLOSURE HOMES don’t try to buy from a private seller when a foreclosure hits the market go look at it they will be asking some crazy price but just watch it after 60 days on the market they will drop the price considerably if u like the price bid 14% below the asking price they will usually take it
Flipping is nearly impossible now. Property values are still sinking. The best way to buy a fixer-upper is with an equity loan on your current house. Cash sales have less finishing costs. You have to go quickly because the loan payments will add up. It’s really have to find homes with the sweat equity that you need to clear a huge profit.
I beg to clash. When you buy a foreclosed house or buy from a motivated seller for a excellent price, there is bounty of room for profit. It is not a free lunch, it just is what it is. Doing the leg work and reallllly looking for a excellent deal, possibly spending months doing so, is something many people do not have the patience for. But, it is of utmost importance. If someone is smart about it, it is most certainly possible.
T.V. shows you how not to flip a house.
OK did everybody hear the KEY sentence?
“They just paid full price for the home” Well, how do they expect to make any profit paying full price to start with?
The DEAL dictates the profit NOT the market.
what about the tax on a house if you don’t own it for more than 2 years? i heard it is like 30% in California.
How many houses have you flipped?
Fantastic Vid! Spread the negativity around.
That will leave more deals for people like me!
lol, reality can be percieved as negative if your negative nanaja. if you dont agree with what he said lets hear some constructive crticism cuase hes right on the mark.
You would look more credible without raccoon eyes lol, too long in the tanner eh?
haha
The formula to make money is ARV-30%(or 25K)- Repairs-
5K(For me)= The most money I offer for a house! This is then called a deal! From 50 offers 1 person may exept, the thats the 1 that bring pay day!
Looking for homes to buy or sell in California, then visit NickNekoo Dot Com for a free list of active listings
Thank you for the info.
Flipping can go ill-treat somtimes. One word- RENT! If you flip & sell it, you build income. If you hold onto the property & rent it, you build net value.
Very lucid.
THANKS FOR THE ADVICE
Haha
That’s why you buy a DEAL, not a home.
Remember people, reality television is whatever thing but real. There something called editing in the land of TV. And it is what they don’t show you that you need to see.
The only way to flip a house profitably is to find a seller desperate enough to sell you his house at a price far not more than market value. Market value is what the price of the house considering its condition, whatever that may be. If a house needs $100,000 in work to bring it up to $500,000, then the market value is $400,000. Sellers are not stupid. They will sell it at $400K because many buyers just want it to reno and live in, not flip. Those people will pay the $400K. It will not sell for $300K.
yes it is harder to flip now than last year but there is still room to make money i just closed on my 3rd house this year BUY FORECLOSURE HOMES don’t try to buy from a private seller when a foreclosure hits the market go look at it they will be asking some crazy price but just watch it after 60 days on the market they will drop the price considerably if u like the price bid 14% below the asking price they will usually take it
Flipping is nearly impossible now. Property values are still sinking. The best way to buy a fixer-upper is with an equity loan on your current house. Cash sales have less finishing costs. You have to go quickly because the loan payments will add up. It’s really have to find homes with the sweat equity that you need to clear a huge profit.
I beg to clash. When you buy a foreclosed house or buy from a motivated seller for a excellent price, there is bounty of room for profit. It is not a free lunch, it just is what it is. Doing the leg work and reallllly looking for a excellent deal, possibly spending months doing so, is something many people do not have the patience for. But, it is of utmost importance. If someone is smart about it, it is most certainly possible.