Foreclosure in 49417>Question Details

Ross & Kim, Both Buyer and Seller in New Era, MI

What are the best areas to flip homes, city areas, or rural areas? Does anyone know the Grand Haven, Ottawa?

Asked by Ross & Kim, New Era, MI Wed Nov 28, 2007

County area? Looking to flip a short sale /foreclosure there, good idea or bad?

Help the community by answering this question:

Answers

2
Typically speaking a city area sells more homes than rural. It doesn't appear that anyone has mentioned to you that short sales are practically a figment of your imagination. Banks take FOREVER to answer you offer, if they ever do at all, and rarely sell them at prices that would allow you to flip the home. With the number of forclosures on the market you can find some real deals! The only problem (as mentioned previously) is that you need to either price the home EXTREMELY well or be prepared to sit on it for a while. If you have any more questions, please email me @ mslager@greenridge.com!
Web Reference: http://www.MikeSlager.com
1 vote Thank Flag Link Thu May 22, 2008
Hi Ross and Kim,

Flipping houses seems to me to be a numbers game when you do the demographics and count the number of sales in any given area. Emily and I flip 2 to 3 houses a year and have been in the game 30 years. We bought 3 this year but put rent-to-own buyers in two of them. Its really tough to get your top dollar right now, unless you REALLY buy right. Of course those who flip homes in rural areas may tell you that its the best way versus someone who does it in the city. We have done both and just prefer being near city areas and suburbs. Got to look at the number of sales going on. If you jump into an area of real slow sales, your flip could sit on the market longer also. I hope this helps.

Best regards..., and "sharpen your pencil twice" before you begin!
-Don / Associate Broker
0 votes Thank Flag Link Wed Nov 28, 2007
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer