Question Details

Moniqucurt, Other/Just Looking in Arizona

What is the downside to house flipping?

Asked by Moniqucurt, Arizona Tue Apr 3, 2012

Help the community by answering this question:


Risk vs. reward, both are high when discussing house flipping. The downside(s) are perhaps too many to list as previously mentioned. However, there are plenty of folks doing it, do a search on You Tube on house flips and of course, one of the bigger search engines. There is a show too, called Flip this House I think...but remember, they pretty much highlight the sucesses, I rarely see many crashes on these links.
Good luck in your new venture.
0 votes Thank Flag Link Wed Apr 4, 2012
That is like asking what is the downside to having a car accident....the downsides are too many to list. The upside is you can make a good bit of money if you have the knowledge, skills, competencies, etc. required to flip. I've been doing it for years and it ain't for the faint of heart.
0 votes Thank Flag Link Tue Apr 3, 2012
Having it flip the wrong way and squash you. Making repairs to a vacant property and then having it vandalized. Title issues, back taxes, toxic waste, the sky is falling. If you do not know the rules you shouldn’t play the game, yet there are crowds in casinos that have no idea what they are doing. Good luck,
0 votes Thank Flag Link Tue Apr 3, 2012
If done well by knowledgeable flippers who know construction, costs, their market and can make business not emotional decisions, nothing.
Where flipping goes bad is when people learn on the job at their own expense. It's common that they underestimate what it will take to fix up a place to be market ready and over estimate what it will get on the open market.
0 votes Thank Flag Link Tue Apr 3, 2012
One downside to house flipping is unexpected repairs that are needed. Another could be the ability to sell for the price you want.
0 votes Thank Flag Link Tue Apr 3, 2012
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