Florida Pro House Flipping Advice Needed (credit, lawyer, real estate)

[newteacher]

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 ?

[chaz longue]

You're kidding, right?

[newteacher]

Why would I be kidding? I'm not from FL, and every state has some areas/markets that are better than others, and are not as severely affected.

[Carbondated]

Wow...I can't stop laughing.

If you are serious newteacher, then how about sticking to teaching?

It's a much more admirable profession that requires education, a code of ethics and skills, which is quite the opposite of being a "flipper".

[chaz longue]

Originally Posted by newteacher

Why would I be kidding? I'm not from FL, and every state has some areas/markets that are better than others, and are not as severely affected.

Sorry - I just read the papers every day and watch the markets and find it interesting that anybody would ponder dabbling in the sort of extremely speculative business I believe you're describing.

Actually, short term real estate speculation takes many skills too. And they are relatively rare skills indeed, in my experience.

I salute you though - as a business person, I admire people with a great deal of capital they can put at risk and employ other people with. It's admirable. And I ain't even a Republican

You must have a lot more cash and a lot more guts than I have. I admire you. But Im not sure I envy you if in fact you take the leap... I can explain some of the pitfalls I'm thinking of if you like.

You do have a great deal of cash though, right? Or perfect credit and superb carpently skills, and tons of business and management skills...right?

[gypsychic]

I think the days of "flipping" houses here in Florida are over for a good...long....while............. and I can't say I'm a bit sorry about that, either. That's partly what got our state into this mess in the first place.

[newteacher]

To clarify.....please disregard my screen name.....I am a father using his daughters screen name while visiting from New Jersey. I am not a teacher. Additionally I have been in the construction industry for over 40 years. I was really just looking for some useful information from those with knowledege and experience in Florida as opposed to criticism from those who apparently find satisfaction in ridiculing someone who has been successfully self-employed all his life. I realize self-employment is not for everyone but if you only wish to follow please step aside and let those who wish to lead do so without comments that only display your own lack of confidence. So...again...if there is anyone in Florida with knowledge of viable house flipping communities in Florida I would appreciate hearing from you.

[Muggy]

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.

[cfIfan]

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.

[carolac]

We here in Florida are a little sensitive about the flipping house profession because, to many, it is the flippers and speculators that have brought about the financial devastation that is existing in Florida right now; i.e., the housing market (among other things).

We are sort of hoping the very profession you are seeking to launch here would move out of the Florida. Now that is not personal to you by any means, and you certainly are not the only one seeking to do this. It's sort of like meeting the undertaker, or your wife's divorce lawyer.