So You Flip Houses…

I try not to tell people what I do for a living.  Not because I don’t want to help people, but they always ask the same questions.

My (name of a relative) is a real estate agent and I’m trying to buy a property to flip.

I say, “That’s great, where are you looking for property?”

Usually, they give some kind of excuse or reason why they haven’t started looking or they mention how they are waiting for a deal to come to them.

I always encourage them to go to some f the local RE investment clubs, or at least go to some local real estate forums, but usually that seems like too much for them.

The conversation typically ends there, I am happy to answer any additional questions if they have any.  But the TV Shows have glamorized our business to make it look easy.  Most people think you typically buy any house, fix it up a bit and cash a $100,000 check.

Sadly, it’s a reality check.  Go look at 100 properties, write 50 offers, get one deal, come up with all the cash to close, do a massive rehab, fight lenders on all their crazy restrictions, pay escrow, title and the real estate agents and hopefully 4-6 months later you should get a fair return for your time and investment.

That doesn’t make it sound as glamorous does it?  Don’t get me wrong, I love this business, but “easy” is not a word I would use to describe it.

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2 Responses to “ So You Flip Houses… ”

  1. […] Flipping Homes: A Wake Up Call Posted by: claire | Category: Flipping Houses, Real Estate Investing, Rehabbing Houses […]

  2. Larry Davis says:

    I agree with you on t.v. shows,they make it seem easy.It is a lot of work.

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