House flips during a pandemic as a new real estate investor.

3 Replies

Personally I dont think flipping is wise for a new investor even pre-pandemic. Especially if you have no construction experience or any reserves/funding. Id say its probably safer to buy longterm buy hold first. 

Originally posted by @Candiace Roach :

Has a contractor have you worked with first time house flippers before ?

Yes I've worked for all sorts of flippers in the past. It's a though part of REI to start out doing in my opinion. Alot of things can go sideways quickly. Also it's more about trying to get the house as cheap as possible vs trying to make the value as high possible.

General rule of thumb any investment where you want a quick profit is risky. I had a cash heavy customer a couple years ago that decided to start flipping houses out of the blue and I dont think he turned a profit for the first couple and gave up on it.

Also I've seen people that flipped and did nothing by the books and were plauged with issues afterwards. Like not pulling permits, cutting corners quaility wise etc.