Real Estate News & Commentary

Is This a Good Time for Rehabbing?

Expertise:
155 Articles Written
Doom and gloom is everywhere. Foreclosures are at record highs, builders are swimming in inventory, the mortgage market is in a shambles and there seems to be no end in sight. Buyers are afraid to buy because the market might go lower. Sellers are in a panic because there seems to be no hope of [...] View the full article: Is This a Good Time for Rehabbing? on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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    Cash
    Replied almost 12 years ago
    EXACTLY! I’ve been preaching this all along! It’s a great time to be flipping, but you HAVE TO stay on top of the deal and your #s! You gotta buy low enough that you can have the nicest house in the area, for the lowest price, and STILL make a profit! It is possible- I’m doing it all the time. Great article!
    Cash
    Replied almost 12 years ago
    EXACTLY! I’ve been preaching this all along! It’s a great time to be flipping, but you HAVE TO stay on top of the deal and your #s! You gotta buy low enough that you can have the nicest house in the area, for the lowest price, and STILL make a profit! It is possible- I’m doing it all the time. Great article!
    Real Estate Investor Girl
    Replied almost 12 years ago
    Richard, I agree, flipping is still viable if done right. On the selling side, besides the low price, I might add on a seller “will carry” second. Some of your profit would be on hold, but with the interest, and a call or balloon, it would be profitable, and serve the credit crunched consumer. Kathleen
    whatley
    Replied almost 12 years ago
    I want to start flipping, have rehabbing experience (own homes) understand that the money is made at the first deal. would like a guide to follow for keeping on target.
    whatley
    Replied almost 12 years ago
    I want to start flipping, have rehabbing experience (own homes) understand that the money is made at the first deal. would like a guide to follow for keeping on target. Reply Report comment
    rick marnon, howell
    Replied almost 12 years ago
    here in michigan we can still flip but you have to do it with the utmost care. rehab and hold is the best thing right now in our state. good article.
    rick marnon, howell
    Replied almost 12 years ago
    here in michigan we can still flip but you have to do it with the utmost care. rehab and hold is the best thing right now in our state. good article.
    Mike-TWA
    Replied almost 12 years ago
    The “flip and grow rich” TV shows make it seem so simple. Wait a second. Are you saying that the road to riches is not paved with granite countertops? 🙂 Good article. I think those of us in areas where the flipping model never changed (no big double digit price growth) are still puzzling at the repeated stories of the bubble flippers as evidence of a real estate calamity. Also, Rick makes a good point about buying and holding right now in some areas. I believe the credit fallout makes it important for rehabbers to at least have a plan B of renting for awhile simply because nervous underwriting may artificially depress prices for a period.
    Atlanta New Homes
    Replied almost 12 years ago
    This is a great way to make some money fast. If you have money to put up front, you can expect a nice return. The key is to find a home, and have it heavily inspected. You don’t want to end up with a home beyond “flipping” at a reasonable price.