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03-05-2014, 08:38 PM
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Location: Asheville, NC
12,559 posts, read 30,514,182 times
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I'm just wondering if you purchase less expensive homes in the area ($60K and under) and fix them up can it be done? It seems there is a good market here for homes under $100K. Looking for profits of $15K-$30K. Is it always best to buy were schools are good or other areas still acceptable for people who don't have children? I've heard to stay away from West Greenville.
I know there is a lot to know about when flipping houses. You have to have experience, connections and funding. Just trying to get to know the area and what can work.
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03-05-2014, 08:55 PM
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5,355 posts, read 7,738,881 times
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Yes
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03-05-2014, 09:13 PM
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Location: Asheville, NC
12,559 posts, read 30,514,182 times
Reputation: 5354
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Quote:
Originally Posted by redcliffe
Yes
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What are some good locations with homes under $60K where it could be possible? |
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03-05-2014, 09:44 PM
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Location: FLORIDA
8,963 posts, read 8,168,751 times
Reputation: 3457
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Beckycat, the house flipper?
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03-05-2014, 09:45 PM
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5,355 posts, read 7,738,881 times
Reputation: 2151
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Quote:
Originally Posted by beckycat
What are some good locations with homes under $60K where it could be possible?
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Under 60k is tough. What made you choose 60k? Are you going to invest out off pocket or use leverage? I tried to send you a private message, but I'm on my Galaxy S4. Send me a message direct please. |
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03-05-2014, 11:32 PM
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Location: Not where you ever lived
11,537 posts, read 29,037,842 times
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I flipped for 25 years. The secret is to know your market, have more than a passing knowledge of home construction, buy the WORST house in the BEST neighborhood, and learn how to stage it before you try to sell it.
If you want a quick flip, buy a good house (in a good neighborhood) that only needs cosmetic update and minor repairs. I watched HGTV for months before I sold. I made sure it had what women wanted. The guy may have the money, but you can bet the significant other is spending it when it comes to buying your house.
By the way, redcliffe is a smart cookie about real estate.
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03-06-2014, 06:15 AM
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5,355 posts, read 7,738,881 times
Reputation: 2151
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There is actually someone local who teaches a class about once a month on wholesaling. There are many ways to do it. Just depends if you're using your money or leveraging others money. PM and I'll give you info on him.
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03-06-2014, 07:59 AM
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506 posts, read 1,162,941 times
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Yes but you'd be wayyyy better off renting them around here. The rental values here are really high compared to the sales values. You can easily buy a house that is 'ready to rent' and rent it out for almost double your mortgage payment.
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03-06-2014, 08:06 AM
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Location: 5 Miles to the Beach
1,403 posts, read 2,382,201 times
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You would be better off investing in properties, I would think. We bought a duplex and have our entire monthly mortgage paid for and then some. This is also with a 15 year mortgage. If we were to sell the home today (and we purchased it in 2012), we would be cut a check for at least $30,000 and barely any of our own money went into the home.
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03-06-2014, 08:10 AM
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Location: FLORIDA
8,963 posts, read 8,168,751 times
Reputation: 3457
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I was thinking the renting would be better too. I just dont see the home appreciations there yet. Even nicer houses are still cheap.
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