Flipping Houses Smart?
Tyler's business has taken a dip for the first time. Should he think about getting out?
QUESTION: Tyler owns a small business that flips houses. This is the first month that he’s had to dip into savings to pay for it. When should he think about pulling the plug on the business?
ANSWER: It's tough to work in a slow economy but it can be done. The key to flipping houses is timing and knowing trends for the different areas of town. You have to be very picky in the houses you choose. Resist being pressured into deals too.