Friday, August 10, 2007

The real estate game - House flipping


I know that I am not the only one who has been affected by all these shows on TV showing people flipping houses, and turning very large profits in very little time. I am completely intrigued, and if I had large sums of extra money lying around, you can bet I would be jumping on this bandwagon.


My husband and I both have degrees in Architecture, and have worked in the construction industry. I have always thought about entering in real estate as a career down the road, and if I did, it seems as if flipping houses might even become easier as I would get a first glimpse of the ideal prospects when they came on the market.


The most difficult aspect to this process, besides having the money around to invest, I think would be finding the right crew to help you. We could do a lot of the work ourselves, but I am sure we would need to hire some professionals for parts and pieces, depending on the job. This part is a bit intimidating to me. We don't have a handful of folks we could turn to, and in construction, it seems almost impossible to find a crew who will show up when they say they will. In my experience, it seems that they run on their own clock. I understand this, as jobs take longer than expected, unforseen things come up, etc. But it seems as if the folks who do well flipping houses, have people in their back pocket who they can count on, and that they show up when they say they will. And these folks seem hard to find, as we found out when we built our house.

1 comments:

George Christodoulou said...

Hey,

I have been flipping houses for some time...House flipping is harder than the TV shows make it seem. There are a lot of aspects the TV shows don't depict.

Thanks,

George Christodoulou
http://houseflipblog.com
Find Thousands of Foreclosures wiht a 7 day free trial at: http://houseflipblog.com/freetrial