HOUSE FLIPPING FAST EARNINGS OR SLOW LOSSES FLIPPING SLOWS

Dated: 08/22/2014

Views: 432

What a great topic house flipping, in my market Santa Monica Real Estate and West Los Angeles Real Estate, it is a rich man's sport. Since the houses in this market generally start at over $1,000,000 and usually these are major fixers or tear downs you are looking at a $2,000,000 investment to flip in this area. Professionals need apply only.


That doesn't mean flipping is only for the rich there are plenty of areas in Los Angeles where you can buy a fixer for $250,000 put $50,000 in renovations and then sell for $375,000 to $425,000 making a nice profit in 60 to 90 days.

What is the real key to flipping? You need a General contractor that will work with you in evaluating the house before you buy and then take you through completion of renovation, bringing it in at the budget he quoted when you bought the house. This sounds much easier then it really is, finding a contractor that will be loyal, knows his costs and can stick to a budget is not an easy find.
This article ; "Fading Flips? Fewer Investors Are Flipping Houses" (here is the link: http://goo.gl/KQAgQy ) shows that flipping has slowed down from its recent highs but Los Angeles remains high on the list of most popular cities to flip. 
Interested in flipping? Contact me let me work with you and show you how to make money not lose it, You can reach me at anytime 310.505.5571
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Robert Schmalz - BRE 01813025

DBA "West Los Angeles Real Estate Group" ....

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