Msg. 19200 of 47202 (This msg. is a reply to
19187 by
capt_nemo)
Jump:
Nemo:
You ought to relate to that. You're flipping cars!
If you're good at it, there's far more money to be made in flipping houses. And they give you a place to live while you're doing repairs. It's not the fastest of pricesses, but I've known people who flipped houses every six months (while the market was hot, anyway), sometimes making $75k in that period.
I may occasionally flip homes when I retire. There are some older houses in that part of NH that have been on the market forever. I might be able to get them cheap. While I don't particularly enjoy home repair, I do intend to help build my new house and expect to learn a lot. Part of my beef with working on houses has always been not knowing what I'm doing. I find it frustrating to have to spend a lot of time figuring out on my own how to do something - especially if I may never have to do it again. And, then, it's not always easy. Anyone can put up drywall. But surfacing it? I've tried. It's not easy. I've poured enough concrete to know that putting a good surface on it isn't a skill you'll master quickly. Fencing? EASY. Shingling a roof with composite tile? EASY. Painting? EASY. Wiring? Scares me so I don't do it.
I might change. Probably not, but maybe.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
A tactic that helped define the height of homebuying madness in the U.S. in the years before the market collapsed is rearing its head again.
Home flippers, who buy homes as a speculative bet on short-term price appreciation, accounted for 6.1 percent of U.S. home sales in 2016, according to Trulia, which defines a flip as a property sold twice in a 12-month period in arm’s-length transactions. That’s the highest share since 2006, when flips accounted for 7.3 percent of sales.
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