Flipping Property; Is it Right For You?

Flipping Property was a booming business until the recent real estate industry melt down.

There was even a time when flipping homes was my full time job. I’m talking about legitimately buying and reselling real estate for profit…and not the illegal stuff you here about from time to time.

If I needed extra money I’d flip a house. If I had a big bill due I’d flip another one.

But all good things must come to an end, or do they?

Robert G. Allen is quoted as saying “don’t wait to buy real estate; buy real estate and wait!” It made since then, and it makes sense now.

Right now it’s a buyer’s market and there are plenty of bargains ready to be snatched up by someone who can buy and hold. Now is a perfect time to invest in real estate.

My interest in flipping real estate began when I was in college. I was on a flight to Washington DC to visit my girlfriend at the time when I struck up a conversation with the guy sitting next to me. I don’t remember his name, or much about him, but I do remember what he said.

He said he was a real estate investor who self reportedly was making a lot of money buying and selling real estate. Of course he could have been pulling my leg, but nonetheless he had my undivided attention for the duration of the flight. I soaked up what he said like a sponge.

Through him I learned that the best time to start flipping property is while you’re single. Why? Because a single person is more likely to be okay with the idea of buying a fixer upper, moving into it, fixing it up, selling it and doing it all over again. Married couples with kids are much less likely to do that.

And it’s true. I lived in places as a single person that I would never move my family into. However, I still flipped lots of properties after I got married, so don’t think for a second that you must be single to be successful.

And some of the best strategies I learned are found in Robert G. Allen’s NO MONEY DOWN real estate investment course. I bought one property after another with no money down, using other people’s money, via simultaneous closings, 110% financing, and other creative ways.

I also learned some successful real estate investment strategies through an organization that was called ACRE; it stood for American Congress on Real Estate. Its focus was also on buying and selling real estate with no to low money down techniques.

Summarily, the real estate market is right for a buy and hold flipping property strategy until the market turns around. If you buy cheap enough and have a good marketing plan it’s still good for flipping. And a good place to start is buying, moving in and reselling when the market rebounds.

However, whatever you do learning as much as you can about successful flipping property strategies and techniques highly recommended.