Flipping houses is prolly the safest investment right now.

4,054 Views | 22 Replies | Last: 1 mo ago by BBRex
lancevance
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Lots of cheap houses in the market soon. Investors gonna make it out like bandits.
Gap
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AG
I can't imagine the plunge in home prices right now. We really don't know what that is because who would want to buy or close on anything they had in process. Any estimate on what % someone would actually buy a house for today as compared to what they might have just 2 months ago?
Waltonloads08
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I'd hold off...
HouAggie2007
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How do you make the logical jump that lots of cheap houses about to flood the market = flipping them becomes a good idea
b0ridi
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HouAggie2007 said:

How do you make the logical jump that lots of cheap houses about to flood the market = flipping them becomes a good idea
Because no one has ever lost money in real estate, right?
ThunderCougarFalconBird
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b0ridi said:

HouAggie2007 said:

How do you make the logical jump that lots of cheap houses about to flood the market = flipping them becomes a good idea
Because no one has ever lost money in real estate, right?
the only better/safer investment I can think of has to be pumpkins in November.
Cromagnum
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Lots of people potentially losing jobs and for sure losing money right now. Who is your market?
Texan_Aggie
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Yeah I think lots of people are going to stay put. Can't imagine with oil at $30/bbl many people are getting good bonuses or raises. Layoffs are coming and this doesn't appear to be a short term deal
W
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a recession is a great time to buy property in the country.

if you're looking for some for your own use
Aggie369
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Buy the property and RENT it to those who cant afford to own any longer.

Rental market will get stronger
E
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Market dips lowers cheaper homes and raises remodeled homes... got it
Stan Crowch
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I'm part owner in a single-family rental investment company. Things are really good. Lots of people wanting to allocate money to assets they can see and touch. I wouldn't want to be flipping houses right now though.
IrishTxAggie
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blindey said:

b0ridi said:

HouAggie2007 said:

How do you make the logical jump that lots of cheap houses about to flood the market = flipping them becomes a good idea
Because no one has ever lost money in real estate, right?
the only better/safer investment I can think of has to be pumpkins in November.
Christmas trees in December
XpressAg09
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b0ridi said:

HouAggie2007 said:

How do you make the logical jump that lots of cheap houses about to flood the market = flipping them becomes a good idea
Because no one has ever lost money in real estate, right?
1. Buy House
2. ???
3. Profit!
Harry Dunne
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lancevance said:

Lots of cheap houses in the market soon. Investors gonna make it out like bandits.
Depends what price range the houses are in and exactly what said investors plan on doing with them. Different variables now than usual, but big picture no different than ever.

Flipping higher end homes is always risky and the pool of potential buyers will be smaller than ever...and there is typically not much margin in flipping lower end homes. If you can tolerate eating a mortgage for a while or playing the long game & renting a place until the market recovers for a flip you can certainly get great prices right now... but it's by no means "easy money". Anyone that thinks this has never actually done it.
Gus Fring
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lancevance said:

Lots of cheap houses in the market soon. Investors gonna make it out like bandits.
Where are these cheap houses?
Tibbers
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Gus Fring said:

lancevance said:

Lots of cheap houses in the market soon. Investors gonna make it out like bandits.
Where are these cheap houses?


In places that are so scary it's scary.
TarponChaser
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Tibbers said:

Gus Fring said:

lancevance said:

Lots of cheap houses in the market soon. Investors gonna make it out like bandits.
Where are these cheap houses?


In places that are so scary it's scary.


I have a friend working for a company due tear-downs and renovation/flips of houses in Lindale Park. The cheapest one I've seen them do is like $625K.

I know that area ain't what it was 10 years ago but that just blows my mind.
T Durden
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XpressAg09 said:

b0ridi said:

HouAggie2007 said:

How do you make the logical jump that lots of cheap houses about to flood the market = flipping them becomes a good idea
Because no one has ever lost money in real estate, right?
1. Buy House
2. ???
3. Profit!


I saw this exact method in a Tom Vu infomercial in the early 90s.
civilaggie2011
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Lindale Park
MAS444
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It's been over a year since the original post. Let's hear all the success stories!
The Milkman
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My in laws family business is real estate investment. Not flipping, but buy cheap, clean up, and rent. Also will buy empty lots and build from ground up and sell.

Both directions are booming. Rentals are all occupied and paying on time at a higher rate than before the pandemic. New builds are selling before houses are finished.

That is small town Pennsylvania.

If the OP was actually able to get any properties cheap then I'm sure it went really well. Here in DC/Virginia/Maryland everything sells at asking or above in a day or two.
BBRex
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A former co-worker and her husband bought over there six or seven years ago. I thought it was probably a smart long-term move, but I wouldn't have wanted to live over there while waiting for the neighborhood to gentrify. But when I saw the houses immediately around theirs, it didn't look so bad. Of course, her husband had to do some serious work on the house, too.
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