On your path to Financial Freedom it is always important to pay attention to what is happening in the market. If you’re watching the media talk about the the real estate market you might be wondering if now is a good time for a Flip House. So here’s the big question, “Is House Flipping dead?”
The last two years have been a great time to be a real estate investor and house flipper. Now in 2022, is it still a good time for a Flip House?
Prior to 2020 the real estate market was good, and it was a great time to invest in real estate. Rent house strategies worked. Flip house strategies worked.
But Covid ushered in a whole new set of outside circumstances that created the perfect storm. Just think of it: low inventory, artificially low interest rates, rapidly increasing prices, low days on market, bidding wars. It was the perfect time to sell a house. It was the best seller’s market I have ever seen in my 20 years of real estate investing.
Now with inflation through the roof and everything costing more you might be sitting around wondering to yourself what are ways to make extra money. If you’re like me you’re not thinking about searching job listings or scouring the job search sites, you’re thinking about easy ways to make money.
For some people trying to make money fast this meant putting up their home for sale. Based on all the data out there about prices and home sales, it probably worked. Selling a house is a great way to make money and should top every list on how to get rich.
But for the normal homeowner who decided their home was a good investment and sold it, what now? Go buy the tesla and back to the drawing board? After you’ve sold your house, it’s gone for ever. The big payday was fun but you’d better be smart with it. But wouldn’t it be fun to do it again?
Enter the world of the professional real estate investor and house flipper. Do you know what’s better than selling your house and making a cool $50,000? Doing it 5 times, 10 times, or 20 times. The house flipping strategy is simple.
Buy low, rehab, and sell high.
And the best part is that the big payday is repeatable!
Our Rent House MILLIONAIRE students have been making great profits all year with one student finalizing a deal at over $100,000 profit this week! Check out other real people making money flipping Here.
That leads us to here and now. Is it still a good time for a flip house? Is the market in a place where we can still buy a house, rehab it, and make money off it?
The simple answer is Yes!, but…
Here are 5 things to watch out for:
- Prices Trending Down – make sure your numbers are right. Over pricing your deal could cost you dearly.
- Days on Market – pay attention to your ability to carry the note. Long days on market can eat up your profit quickly.
- New Builds – newer better quality houses can be a devastating blow to your ability to sell.
- Job Shrinkage – watch for slowing job growth and opportunities in your area.
- Rising Interest Rates – again back to your numbers. just remember it affects your buyers too.
- Labor Shortage – getting workers to show up for your rehab is gonna cost you more.
And of course the one big Pro Tip:
- Don’t go it alone…
Find additional resources and information at Rent House MILLIONAIRE
(article link: Bob Vila “Here’s How Much House Flippers Actually Make”