Asked by Angie  |  Submitted September 28, 2015

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?

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  Answers  |  1

September 29, 2015

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

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