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Forum
-> Working Women
underthestars
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 Mon, Dec 06 2021, 6:49 pm
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Does anyone have experience with this and would be interested in helping out (advice only) someone who is interested in beginning to do this for themselves? My DD is interested but really would like to speak to someone in the business before she "jumps" in.
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amother
Eggshell
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Mon, Dec 06 2021, 6:57 pm
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You’d probably need to share a location
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FranticFrummie
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Mon, Dec 06 2021, 11:23 pm
I have quite a bit of experience.
My first piece of advice is get the best inspector you can, even if you have to pay top dollar. If you buy the house, you'll know what you're in for. If you don't buy the house, the money is still well spent because it may have saved you thousands of dollars and tons of heartache down the road. Make sure that the roof is part of the inspection. If you find serious problems but are confident you can get them fixed, make that a bargaining point with the sellers.
Overlook anything that is cosmetic. Ugly wallpaper and a kitchen from the 60's can always get updated. Structural damage is another thing entirely. You want to make sure the house has "good bones." Everything after that is just a matter of taste.
Any more questions, feel free to ask.
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amother
Alyssum
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Mon, Dec 06 2021, 11:46 pm
It depends on deals you get. Like
we’ve bought homes for 20k with collapsing front porches or trees growing out of the basement foundation.
You have to know what you are up for.
The cost to fix wasn’t crazy compared to the cost of the home and neighborhood potential.
(We don’t flip. We rent and refinance).
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underthestars
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Fri, Dec 17 2021, 1:23 pm
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My apologies and thanks to all of you for responding- for some reason I never got emails showing me I had responses & then I had been away. I will pass this on to my DD
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Rubber Ducky
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Fri, Dec 17 2021, 1:36 pm
One other thing: housing prices fluctuate. In an up market the value of all houses rises. But in flipping homes, there's a time lapse between when you purchase and when you sell. Right now we're in a seller's market but if the bubble bursts and prices decline significantly, you could really be stuck.
And one more other thing: many flippers fix up a home with shoddy work, shoddy materials, all glitz and no substance. Personally, I would stay far away from buying a flipped house.
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