Flipping houses?

most of the people in RE might
disagree with me but of perhaps
10,000 people INVOLVED in flipping,
i know of NONE that earn a profit
at it. NONE.

It requires having earnest money
deposits and the knowledge where
cash buyers are sitting waiting
for deals–or those who have qualified
for bank loans.

Also keep this in mind; when the
California investment buyers [and a
few other states of origin of buyers]
stopped buying and gas prices
went through the roof and arms
went up illegally fast and to non-agreed rates, the speculative
buying stopped cold.

Fewer sellers, therefore, are willing
to allow buyers to make offers without
being pre-qualified to buy themselves.

thus, what was popular is now
very unpopular.

I will agree that of maybe 15,000
of those attempting to profit in
flipping, maybe 5 will earn money.

Just think of the number of balls
you have to juggle at any given time
to make it work.

—what can work much more easily?
tax lien certificate sales and tax
lien sales.

First serious question I have for you is are you REALLY this stupid??? And here are just a FEW reasons why I am asking this.
1. “My FRIEND and I”….notice NOT business partner, nor any other PROFESSIONAL relastionship; just friends. The BEST way to ruin a “friendship” is to go into business together.
2. “PROFESSIONAL flippers”…now just how “professional” can you guys be if you need to ask the MOST important rule of real estate which is location, location, location.
3.”Leave our current jobs” Jobs means w-2 income in most cases and does NOT demonstate ANY skill in management which is a BIG part of ANY new business startup operation.
4.”OUTSIDE of our current state” This means that you have NO local market knowledge, higher costs doing this long distance, NO local contacts, NO local crew, NO cheap source of materials. NO knowledge of local building codes and expectations.
5.”Do we begin now or wait a few months” Wrong target, timing is NOT the issue and is NOT the selling product, the HOUSE and the DEAL are the improtant factors so again you are looking at the wrong things in the wrong way.
6.ALL real estate is a LOCAL market so picking prospects by STATE is a GREAT way to lose money.
7 Speaking of money, just how are you PROFESSIONALS going to bankroll this project? Let me guess, that is something you will “discuss” later …..

Flipping houses is a GREAT TV show but IF you were PROFESSIONALS you would already know the answer to most of the questions you asked, have a business mindset that would have you asking the right questions to the right people and be NETWORKING with people who DO know how to profit in ANY real estate market. Notice how the tc shows NEVER tell you NET profit? Ever wonder WHY???? Small hint is that the answer would ruin the excitment of “making more money in a few months then you made al last year”.

your nuts. you probably read some book on the subject. there are soo many yahoos like you trying to buy foreclosures that they actually sell for more than market value more often than not. Especially here in Sandiego.

I know one guy who makes money flipping places and he does it in cheaper out of the way places towards the desert and he has millions to play with so if one goes bad it doesnt sting him at all. but he rents his out. doesnt resell them.