been a local contractor in the area for past 30 yrs work been slow thinging about doing single family flips . your thoughts

Asked by bradso56, Lynn, MA Sun Apr 7, 2013

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Anita Voutsas’ answer
Anita Voutsas, Agent, Lynn, MA
Mon Apr 22, 2013
Right now is a great time to flip a house if you can get one. The renovations need to be done well as buyers are very picky and home inspectors very tough with the finished product. Inventory is at at record low and there are multiple buyers for every home. I work with inverstors all the time and my track record is usually 95 % and higher list to sale. Give me a call 781-477-2404
1 vote
Gene Clements, Agent, Lynn, MA
Tue Jul 9, 2013
Now is a great time to get into flipping homes. Rates are low,there plenty of buyers and the market so if you go over budget you may have a little more room. Just make sure you work with a local agent that works with investors and has a proven tract record. Like me! I work with mostly investors and would be happy to help you. There are three aspects to consider 1, what you pay for the property, 2, what you spend to repair and carry the property and 3, the resale. A good agent can take care of steps 1 and 3 for you. Best of Luck, Gene
cell 089-998-9600
1 vote
Paul Stonkus, Agent, Lynn, MA
Mon Apr 8, 2013
Inventory is very low and you really need to stay in touch with a few Realtors to find out about opportunities before they become public
0 votes
Gene Clements, Agent, Lynn, MA
Sun Apr 7, 2013
Most of my clients are flippers and I have sold more homes than anyone else in Lynn for the last 2 years . You do not need $500,000 in Lynn. You would be buying under $150 most likely and can finance up to 80 percent of that. The biggest problem is everyone is now trying to flip homes! Inventory is limited . If you are seriouse give me a call. 978.998.9600 good luck!
0 votes
Andrew Adams, , 01915
Sun Apr 7, 2013
You don't Need $500K or more. You can in fact Obtain Renovation Financing on 1-4 family residential loans with 25% down payment on aquisition cost. The challenge is haveing the ability to carry the property during renovation and marketing the property.
0 votes
Edith Karoli…, Agent, Winnetka, IL
Sun Apr 7, 2013
As a contractor you certainly could have the means and the workers to update a home that needs it
and buy it at a very reasonable price tag, but careful.....
You may want to do two things, connect with a really experienced local Realtor to let you know about
what is coming on the market, and about what and where buyers are looking to buy, either because of
transportation hwys, or public transportation, schools or parks or........ So that you do not buy however
inexpensively but then are not able to sell it quickly enough.....

And when buying a home to flip you also must consider how much work it needs, and how much the
buying public will consider your home once updated is worth to them compared to other homes.....

Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE 
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties ---- EdithSellsHomes@gmail.com
Check out my website at htttp://tinyurl.com/YourRealtor4Life
HAVE THE MOST WONDERFUL DAY :)
0 votes
Michael Cheng, Agent, San Jose, CA
Sun Apr 7, 2013
Flipping homes is an option for a contractor if you have the capital ($500K+), the time (6-12 months), and the connections to get deals. If you have those, then you should get started.
Web Reference:  http://www.archershomes.com
0 votes
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