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Renee, Other/Just Looking in Chandler, AZ

My husband has gotten himself into some seminar for flipping houses. Is now a good time in Phoenix, AZ?

Asked by Renee, Chandler, AZ Sun Nov 20, 2011

He's taken a very expensive seminar in flipping properties and says the company giving the seminars has investors in the wings. I think he's been sold a very expensive bill of goods. Any opinions?

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Dear Renee:

A simple version of the course....4 words.

Buy Low....Sell High.

Works every time.

Buying at the right price is the key.

Jeff Masich
HomeSmart Realty
Arizona Homes and Land
Web Reference: http://ArizonaHomesLand.com
0 votes Thank Flag Link Sun Nov 20, 2011
Renee,

Be very very careful. Specially if all the information he has is from this seminar, with little previous experience. Many investors are now buying and holding for rental income rather than flipping. If he still decides to do the flipping he will need a solid team with a Realtor, lender and contractor (at a minimum) who he can trust.

Just remember that if he invests some money, he will have to be willing to loose at least part of it without impacting your lives. If loosing the money will have a big financial impacty in your lives I will think it twice!

Best of lucks,

Carlos J Ramírez, PC
Broker/Realtor, ABR, CNE
Certified Negotiation Expert
602-512-5825 direct
602-749-6327 fax
http://www.SmartAZRealty.com
0 votes Thank Flag Link Sun Nov 20, 2011
The appeal of a quick profit pulls thousands into your scenario and there is absolutely Nothing wrong with that. It's all about numbers and location. Our current market supports buy and hold versus quick flips. The largest problem with flips are appraisals. If your comp numbers are Very current - you can easily overcome the appraisal issues. Let me know if I can be of further guidance. 480-467-7222
0 votes Thank Flag Link Sun Nov 20, 2011
Renee,

There are investors in the Phoenix market who are flipping homes for a profit. Feel free to contact me if you would like to see some examples.
0 votes Thank Flag Link Sun Nov 20, 2011
I'm not sure my opinion would be worth anything to you, but I would recommend that you and your husband do some serious, independent research on the company and their background. Then you might want to sit down and have a heart-to-heart talk with your husband. Real estate can be a very stressful adventure, and you don't EVEN want to enter it unless both of you are on the same page.

All the best!
0 votes Thank Flag Link Sun Nov 20, 2011
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