[IPAYCASH]

I am a national real estate coach and mentor, based out of Tampa, FL. I instruct individuals on how to wholesale real estate, or as many people refer to it as, quick flip. Wholesaling is simply negotiating a purchase price for a home, then flipping that contract to another investor, for a fee.

I have a potential student in Burlington, but he has expressed concern over possible laws, or hinderances, toward wholesaling. For example, he says that bandit signs, strategically placed on the side of the road, saying something to the effect of "I buy houses cash" are never seen in town. In Tampa, you can't drive one block without seeing many of them. The bandit sign is a staple of any wholesaler's marketing plan.

This is just one example he brought to my attention. So, I thought I would inquire to see if anyone knows of any laws that would keep someone from wholesaling property in Burlington, or Vermont in general.

I appreciate any help you can lend.

Andrew M Massaro
VP, Real Freedom, Inc.

[vter]

Off premise signage is NOT allowed in Vermont. Thats why you dont see a proliferation of roadside signs advertising this or that. If you have something to advertise, the signage MUST be on the property related to the advertisement.
Most municipalities will confiscate such signs, and some have the power to issue municipal complaint tickets

[MRVphotog]

Originally Posted by vter

Off premise signage is NOT allowed in Vermont. Thats why you dont see a proliferation of roadside signs advertising this or that. If you have something to advertise, the signage MUST be on the property related to the advertisement.
Most municipalities will confiscate such signs, and some have the power to issue municipal complaint tickets

I wish that were true in reference to all the political signs you see on alot of lawns months before every election. Just because it has a picture of someone doesn't mean it's not litter.

[square peg]

Call me old fashioned, but I like the idea of buying a house to live in it.

[arel]

I thought of flipping houses in Vermont - not flipping contracts but fixing houses and reselling them - but I am concerned that this may harm locals by driving up real estate prices. People are being driven out of Vermont because of this, I think.

Someone please correct me if I am wrong on this!

Also, I have read that people often leave houses looking bad on the outside in order to minimize taxes. Is this true?

[vter]

LOL. Ya...political signs are exempt. That little thing called Freedom of Speech or something

[flu189]

I am no expert, but it seems that Vermont real estate is not the best market for "flipping" houses. I say this because the volume of homes for sale is not large enough and also not concentrated enough in regions with ample job and growth opportunities. Early in the year I remember reading an article of a Vt man and wife who had years ago moved to Florida where they were buying up cheaper homes needing some work and flipping them for a pretty good profit, enough to live on comfortably. Of course now with real estate woes and high foreclosures down there I am imagine business is slow. Even if you were to buy fixer up houses here the cost of materials and labor is much higher here so I don't think the profit realized would be worth the effort. I am curious if anyone out there knows of anyone being successful in this endeaver here in Vt though.

[tkln]

I am no expert but based upon our experience from when we renovated our condo a few years ago, I would agree with flu. Not to mention that almost all the contractors take off for hunting season (at least in our area they did) so that kills a few months there. And labor/materials are definitely pretty expensive, so I wouldn't think the profits would be anywhere near as great as in other parts of the country.

[NYtoVT]

Originally Posted by IPAYCASH

I am a national real estate coach and mentor, based out of Tampa, FL. I instruct individuals on how to wholesale real estate, or as many people refer to it as, quick flip. Wholesaling is simply negotiating a purchase price for a home, then flipping that contract to another investor, for a fee.

I have a potential student in Burlington, but he has expressed concern over possible laws, or hinderances, toward wholesaling. For example, he says that bandit signs, strategically placed on the side of the road, saying something to the effect of "I buy houses cash" are never seen in town. In Tampa, you can't drive one block without seeing many of them. The bandit sign is a staple of any wholesaler's marketing plan.

This is just one example he brought to my attention. So, I thought I would inquire to see if anyone knows of any laws that would keep someone from wholesaling property in Burlington, or Vermont in general.

I appreciate any help you can lend.

Andrew M Massaro
VP, Real Freedom, Inc.

No laws regarding wholesaling or flipping. When I was in VT I had a business partner who does just that and does quite well. Some of the things you have to keep in mind is the RE transfer tax paid by the buyer and the homestead exemption.

[harry chickpea]

I have very strong negative feelings about flippers and how their manipulations create housing bubbles and price good honest people out of their homes. I just lived through the flipping craze in south Florida, and consider it a disgusting and anti-social method of making money.

I advise anyone thinking of playing that game to read the Florida forum thoroughly and take serious note of the posts telling about well-educated people who were flipping their life savings through the top of the bubble and are now literally waiting on tables in a restaurant. While looking in that forum and those of Tennessee and Georgia, the reader might also want to check out how how many residents of Florida have been forced out of their homes and have fled to states with less volitile markets.

My impression is that Vermont doesn't have a large enough real estate market for flippers, is not transient enough, and doesn't have as many foreclosures as other states. Be thankful, and be thankful for the tightening of credit in real estate.