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Ask Dave

Flipping Houses A Good Career?

Jason wants some information about flipping houses.

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.