Is Flipping Houses A Good Idea?
Dave explains the basics of flipping houses and what Jason should do to get started.
QUESTION: Jason asks about flipping houses. Is it a good idea?
ANSWER: Flipping houses is contracting to buy a house and then selling it before you actually close on it or shortly after closing on it.
For example, if you buy a $100,000 house for $70,000, you could sell it for $75,000 and close on both deals at the same time. You’d come away with $5,000 after only owning the house for about 30 seconds. It is very do-able and has everything to do with learning how to dig up a deal.
You should also find some other old real estate guys in your area and learn from them.