What is the annual income potential of flipping (buying and selling) houses?

Asked by Trulia Brooklyn, Brooklyn, NY Wed Feb 13, 2013

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Akil Walker, Agent, Upper Marlboro, MD
Wed Feb 13, 2013
In Brooklyn, the 4 largest city in America.......one word...unlimited!
1 vote
Joe Koltes, Agent, Maple Grove, MN
Thu Feb 14, 2013
Speaking from the Minneapolis, MN area, our housing stock is way down. Most REO properties are subject to owner occupant purchase only in the first 15 to 30 days. Investors sit on the sidelines and wait. And like sharks seeing blood, if one that has potential does make it past owner occupant status, there are 10+ offers.It is somewhat of a blessing in this housing market when working with first time buyers, or owner occupant, but hard to make money with investors flipping with the limited opportunities. Joe Koltes Minneapolis, MN
0 votes
Dorene Slavi…, Agent, Torrance, CA
Thu Feb 14, 2013
The home "flip" market is not all gain without loss. It is much more hazardous then the television shows would have you believe and there are many ways to lose part or all of your investment money. Labor Costs, Material Costs, undetected defects, market fluctuations, lack of knowledge of construction and Real Estate, interest rates, all contribute to make "flipping" a difficult business to succeed in.

I have to speak for my area (California) where we have few investors who remain in that market. Real Estate now(2013) appears to be slowly improving, so we might see that side again. We also have had much of the distressed property market bought up by "hedge fund" investors. Those properties will eventually be flipped and sold.

My advice?...........proceed slowly and evaluate before proceeding!
0 votes
Tammy Benkwi…, Agent, Somers, NY
Wed Feb 13, 2013
Contract sales price, plus closing costs plus repairs. minus sales price, minus closing costs, minus commission, equal profit.
0 votes
Home flipping is based solely in dealing in cash. Commission for who? Closing costs for what?
Flag Fri Jan 24, 2014
Mitchell Fel…, Agent, Brooklyn, NY
Wed Feb 13, 2013
Potentially it is unlimited! On the other hand, it maybe limited to a person's imagination.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes
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