Anybody know what kind of profit the Houston flipper is making these days?

Asked by A Stanford, Houston, TX Wed Feb 22, 2012

Houston Flipper-buy a house, fix it up and re-sale it

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Carolyn Wol…, Agent, Houston, TX
Wed Feb 22, 2012
Depends on the expertise of the buyer. You must know your market to know if it is a good deal, and know restoration and remodeling enough to do a rough estimate in a short time. The best deals go fast, so make sure you have a Realtor that is experianced in Market Analysis that will get you good comps and how much the property can lease for in case you cant sell it for as high as you wish. Some foreclosures require that you not resell for a restricted amount of time, and all of the banks vary with their rules.
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Don Groff, Agent, Austin, TX
Thu Feb 23, 2012
It really depends on the market knowledge of the buyer. There are people making good money and there are people losing their shirts. Flipping can be profitable but you need a good team in place and you need a thorough understanding of the market. Then you need to be able to forecast your expenses and plan for the unexpected because something will always happen with these types of transactions. Your preparedness and your team of experts will determine how successful you are in the long run.

Best of luck to you.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
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