Updated over 2 years ago on . Most recent reply
Starting to flip houses in current economy?
Hi everyone, I'm new to the forum. I'm just starting my journey, I read a couple books on investing and flipping houses. I'm wondering what the take is on the current market for those who have been in the industry for a while and are currently active. With the current state of the economy, is it a good time to get into the game? Are there enough good deals out there? If so, how are you accounting for the downturn in the economy? Being a lot more conservative on ARV? What is your general outlook for 2023? I'm in the Sacramento area, so if your in this area as well it would be particularly great to hear your take.
Most Popular Reply
A lot of optimism in the comments above.
I personally think that it is a very sketchy time to be buying deals, especially for a new house flipper.
The market hasn't picked a direction yet. Meaning we could be flat the rest of the year, we could see a small recovery by year end, or we could see values drop another 15% by year end.
If I were in your shoes I'd read some more books, spend some more time on BP, and build up your network/team of real estate agents, contractors, designers, title company, lender, etc. Then plan to re-evaluate around summer time.