My daughter has become interested in "house flipping" as a source of additional income.

Where is the best resource to get information on what all is involved with flipping houses?

Asked by Angie

1 Answer

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Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
Hi Angie, I don't know how handy/savvy/experienced your daughter is regarding buying and selling real estate, but in general, flipping houses requires some pretty specific skill sets: the ability to predict the cost of repairs a home will need; the means to pay for the purchase plus the renovations involved; skill to know what a home will be worth after renovation: and financial reserves to cover taxes and other upkeep on the homes purchased. If she has to ask how to get info on the subject, I would respectfully state that she probably isn't ready to start pursuing it. The days of "buy a home with no money down, sit on it for a month, then flip for a huge profit" are gone, and hopefully will never return! Hope that helps, thanks, Ted | 09.29.15 @ 20:27
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$commenter.renderDisplayableName() — {comment} | 12.09.16 @ 19:34
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Answered by

Ted Rood
Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO

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