Guys is it possible to buy low and sell high. Just say the house sales for 8K and it needs 25K in repairs ARV is 135000 Can I sell this property for 125000 If the comp line up.
anything is possible but that will not work here. No one here is making profit like that. Deals like that would be so good everyone would be bidding on them driving the price up.
Is it impossible to do what would be the hold up. Is it too big of a spread.
Yes impossible. Well you might do it once but not as a business.
Roosevelt, that is a story book scenario. Memphis is a great town to flip houses in; but it's a business. Profits are made knowing the market, knowing the numbers, finding motivated sellers and working your tail off ;-)
Best of Success to You
Yea pretty impossible here.
Numbers don't tend t work like that in this market
What is the area your investing in, what i'm saying is how many sales in the last 3 months? How many houses are vacant in the area? What is the neighborhood like? Would you live in the house if you can't sell it soon? Just some rules I live by when looking to invest in property.
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