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Old 04-10-2008, 03:51 PM
 
183 posts, read 1,043,568 times
Reputation: 107

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This reponse and those like it greatly confuse me. I would be interested to know how an individual who vastly improves a house that is usually in poor condition and a blight on the neighborhood and in doing so also increases all the nearby property values by thousands of dollars would be so despised ? There are too few house flippers or flip sales to have the statewide impact let alone a nationwide impact that you would seem to suggest is the result of house flippers gone wild. If you did a little research I suspect you might discover more likely causes are that many appraisers may have overvalued houses, many mortgage companies have taken alone of many uneducated first time buyers and buyers with highly questionable credit histories.....perhaps you should be questioning your government as to why these lending institutions are still allowed to be in business ?
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Old 04-10-2008, 03:56 PM
 
15,091 posts, read 30,951,789 times
Reputation: 18148
Quote:
Originally Posted by newteacher View Post
This reponse and those like it greatly confuse me. I would be interested to know how an individual who vastly improves a house that is usually in poor condition and a blight on the neighborhood and in doing so also increases all the nearby property values by thousands of dollars would be so despised ? There are too few house flippers or flip sales to have the statewide impact let alone a nationwide impact that you would seem to suggest is the result of house flippers gone wild. If you did a little research I suspect you might discover more likely causes are that many appraisers may have overvalued houses, many mortgage companies have taken alone of many uneducated first time buyers and buyers with highly questionable credit histories.....perhaps you should be questioning your government as to why these lending institutions are still allowed to be in business ?
I think it depends on one's definition of "house flipper" - I really don't like that term. Flipping suggests the short term investor who buys a home for cheap, does a cheap fix-up and expects a quick windfall. It is another matter for someone to come in and do a nice rehab on a house and expect a fair return. There was far too much "flipping" done here in Fla., along with the funny money and crooked appraisals, and many of us just have a bad taste in our mouths from what happened. It's nothing personal, I like to see folks fix up places. But honestly, I think you will have a hard time right now, I can't think of anywhere in this state where you could actually make money doing this right now. Maybe in a few years when the dust settles.
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Old 04-10-2008, 04:35 PM
 
Location: The Conterminous United States
22,553 posts, read 47,191,418 times
Reputation: 13382
Someone that comes onto this forum and asks Floridians for advice on flipping is either insensitive, has no idea about this country's housing market, or both. Either way, they have no business investing in real estate.

A contractor is not an investor, obviously.

I can't build a house but I know how to make money. Two entirely different things.
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Old 04-10-2008, 05:03 PM
 
670 posts, read 1,507,883 times
Reputation: 269
Default Hey Muggy!

Quote:
Originally Posted by Muggy View Post
You should flip at least 50 houses. It's a great time to get into the game. With all of the boomers on the way it's a sure bet.
Common, what's your HBB screen name?
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Old 04-10-2008, 05:08 PM
 
670 posts, read 1,507,883 times
Reputation: 269
Talking See, I CAN agree with you CFIan

Quote:
Originally Posted by cfIfan View Post
Well, as a self employed person who is a realtor, i can tell you that everything you read in the papers, on the forums, or see on TV is true. The days of flipping are over, for the time being anyway. If you are wanting to buy property as a home to live in for a long time then go for it, nows a great time. But dont let yourself be under the impression you will be able to flip. I dont care what anyone says. Real Estate is still the best long term investment. However, the days of people buying in June and selling in August at a profit are over.

I think you said you were a builder or a contractor, you should know what the market is like,, and whilst regionally it may differ slightly, the whole country is in pretty much the same state, depressed.

That being said, there are some great deals to be had on property right now. But if your accepting of the fact that nothing is for certain, and you you would have to consider it a long term investment for a number of years, then go ahead, but i do mean a number of years, not 2 or 3 if you want to see any sort of meaningful return.

And i dont want you to think i am slamming you because i am not, but you must understand that. I dont think there is an area anywhere in the country suitable for flipping right now. Do i know that for sure? No, but i would imagine that, but it might just take someone with some balls to go out there and get the great deals and wait for a while. Which ever way good luck.

I tried to give you a positive rep point but wasn't able to (could someone else do it for me)
And that's even after I got censured for my replies to your posts!

_
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Old 04-10-2008, 05:12 PM
 
944 posts, read 3,530,244 times
Reputation: 578
Quote:
Originally Posted by jbravo View Post
Common, what's your HBB screen name?
Dude, this may surprise you... it's also, "Muggy." I riff on th FL threads and sometimes others.
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Old 04-10-2008, 05:28 PM
 
Location: The Conterminous United States
22,553 posts, read 47,191,418 times
Reputation: 13382
Whoa. Excuse me.

jbravo: You are a real estate agent?

Did you not say this?

As far as desperate... I do not think so.... I do not sell Real Estate....
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Old 04-10-2008, 05:32 PM
 
670 posts, read 1,507,883 times
Reputation: 269
Talking New Teacher


Quote:
Originally Posted by newteacher View Post
I am looking to retire in Florida from NJ in the near future and am hopeful of flipping a few houses. I am not without the needed skills, however, I do realize that the housing market is depressed and Florida is an area I am not familiar with. Are there any experienced Florida house flippers that are willing to offer/share advice on Florida real estate markets that have not been as severly affected by the economy and are viable house flipping markets where they have experienced and continue to experience success ?
Thank you for making my day a little brighter.

p.s. I just broke even selling my own house (exactly one month ago) which I built in 2007 (owner-builder) Feel proud of that accomplishment since other houses are selling bellow building costs. Hard to make a profit, isn't it?
_
p.s.s. But, disregard anything from me since I also bought silver two weeks ago just before it plunged 20%
Decided my best course of action was to put all my money in different accounts an earn 3.75% (which means that after inflation, I still lose money )

Sorry guys, I'm a sucker; there's a LONG (really, really long) shot that NewTeacher is for real (real off chance, I know) so I gave a reply
_

Last edited by jbravo; 04-10-2008 at 06:18 PM..
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Old 04-10-2008, 05:33 PM
 
670 posts, read 1,507,883 times
Reputation: 269
Default Heya silent "h"

Quote:
Originally Posted by hiknapster View Post
Whoa. Excuse me.

jbravo: You are a real estate agent?

Did you not say this?

As far as desperate... I do not think so.... I do not sell Real Estate....
answers:
I do not belong to NAR and have never sold a house as an agent in my life.
I did.

I did, I did see a pussycat!

_
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Old 04-10-2008, 05:49 PM
 
331 posts, read 1,408,956 times
Reputation: 167
Thinking in "a glass half-empty" terms, it's about 5-6 years too late to start learning about flipping. But for a "glass half-full" kind of person it's some 80 years too yearly
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