# Flippin houses



## Premier_929 (Dec 30, 2010)

Whats the best state for flippin a house right now? 

Looking for investors to put up $ and I will take care of the renovations.

I can GC the whole thing, I know someone to do everything. I have the know how, and the tallent, but no $


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## Dirtywhiteboy (Oct 15, 2010)

If you have tallent:blink: Why so broke:blink::blink:


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## angus242 (Oct 20, 2007)

Flipping houses was so 2005.


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## griz (Nov 26, 2009)

Contact this guy::whistling

http://www.buyflipitnow.com/



Don't plan on walking away with anything except maybe some dirty boxers:laughing::laughing:

Flippin' is a very risky game & most investors don't play anymore.


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## mehtwo (Nov 14, 2010)

What's the difference between flipping a house and gutting one to remoldel it right?:blink:


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## angus242 (Oct 20, 2007)

mehtwo said:


> What's the difference between flipping a house and gutting one to remoldel it right?


About $80,000


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## Splinter (Apr 5, 2005)

Any investor who has to front all the cash right now is going to want a large return, leaving little for you, especially if you're going to sub out a lot of the project. The other problem is selling the home you've just renovated. There are plenty of homes for sale right now. Why would a homebuyer pay a premium for one you've flipped when 3 others on the same street are going for considerably less?

I've tried playing that game here on Long Island... Definitely not worth it.


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## mehtwo (Nov 14, 2010)

angus242 said:


> About $80,000


That's what I thought.:whistling


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## slowsol (Aug 27, 2005)

Premier_929 said:


> I can GC the whole thing, I know someone to do everything. I have the know how, and the tallent, but no $


Welcome to the trades.


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## mehtwo (Nov 14, 2010)

.....doesn't flipping a house require a big a$$ spatula?:blink::jester:


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## KennMacMoragh (Sep 16, 2008)

Haven't seen anyone do that around here for a while, sorry. It's probably the same throughout the country. Doubt you'll find any investors who are willing to do that. How about target average people, ages 50 to 65 with lots of money who want to remodel their homes?


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## mehtwo (Nov 14, 2010)

mehtwo said:


> .....doesn't flipping a house require a big a$$ spatula?:blink::jester:
> 
> View attachment 52967


Sorry Premier, I couldn't resist.


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## Premier_929 (Dec 30, 2010)

Splinter said:


> Any investor who has to front all the cash right now is going to want a large return, leaving little for you, especially if you're going to sub out a lot of the project. The other problem is selling the home you've just renovated. There are plenty of homes for sale right now. Why would a homebuyer pay a premium for one you've flipped when 3 others on the same street are going for considerably less?
> 
> I've tried playing that game here on Long Island... Definitely not worth it.


Well that sucks:sad:

I just need to make more money... I do spend the time to do it right, but the jobs are'nt really rollin in

I guess your all right, its not really the time or place to do this.


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## TxElectrician (May 21, 2008)

Premier_929 said:


> Whats the best state for flippin a house right now?
> 
> Looking for investors to put up $ and I will take care of the renovations.
> 
> I can GC the whole thing, I know someone to do everything. I have the know how, and the tallent, but no $


Looking for the best state but you know someone to do all the trades??? Are your contacts licensed in all 50 states?

I think you need a better sales pitch before you can convince someone to losen their wallet.l


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## Premier_929 (Dec 30, 2010)

TxElectrician said:


> Looking for the best state but you know someone to do all the trades??? Are your contacts licensed in all 50 states?
> 
> I think you need a better sales pitch before you can convince someone to losen their wallet.l


maybe i'm thinking of moving ... I was just inquiring.


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## onthelevel (Apr 6, 2011)

*Flipping is cyclical.*

I think flipping is one of those high risk high reward things. Unfortunately it also goes in cycles. 
The best advice I've ever heard is that you make the money when you buy. Not by breaking your back and wallet renovating. You gotta get a steal of a deal as they say.
I'm not an expert though. I have enough tools to fill a house, but no house to put them in.


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## plazaman (Apr 17, 2005)

if you are serious about flipping homes, i suggest you order a course from steve cooks.


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## Premier_929 (Dec 30, 2010)

I dont know how serious i am right now, i just need to bring in more income and thought that was one option. I would like to really join up with another company around here to maybe help each other out.


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## Framer53 (Feb 23, 2008)

i am working on a flip right now for an investor.

He doesn't expect huge returns in the next 3-5 years. Buying, fixing renting until he can get a decent price.


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## Premier_929 (Dec 30, 2010)

does he need more hands?


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## W-Tinc (Feb 15, 2008)

Most investors place just about zero value on a contractor's ability to manage a job. Unfortunately people with no money that are willing to work are a dime a dozen these days:sad:

Plus with home values being down flips that need a lot of work have lost much of their appeal, the material and labor to fix it may cost more than it raises the market value.

The good news is houses are incredibly cheap in some areas, and since they are hard to sell a person with out much cash may have a good chance of finding a land contract/rent to own deal that could be spruced up and resold for a profit. 

I bought a house about 20 years ago on a land contract, from people that owned it via a land contract, and I sold it to someone else using a land contract lol. They sold it for cash shortly after and we all made money:whistling


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## Framer53 (Feb 23, 2008)

Premier_929 said:


> does he need more hands?


Not right now., sorry.


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## Doubleoh7 (Dec 3, 2009)

Premier_929 said:


> Whats the best state for flippin a house right now?
> 
> Looking for investors to put up $ and I will take care of the renovations.
> 
> I can GC the whole thing, I know someone to do everything. I have the know how, and the tallent, but no $





I think there may be a better market for demolishing homes and cleaning up the properties right now.


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## SSC (Feb 8, 2011)

Long Island NY is and has been for a few years now one of the hardest places to flip homes. The land is worth more then the house itself. The closer you are to the city the harder it is to make a profit that's worth-while. People will pay a high price just to own a house that should be flipped just so their close to the city. 

Now on the other hand I have family that has done about 3-4 over the last 2 years near mid Suffolk County. Their buying them cheap for CASH!! and selling them after their fixed for under market value- so they sell.

I have a hard time believing investors are willing to invest on real estate now in this econom at least in my area


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## Acres (Feb 12, 2011)

The money isn't in the flip, it's in the purchase...Let me repeat that the money's made in the purchase when doing a flip...There are undervalued houses all over the place in every state. I buy live in fixers and I'm on my third one,I wait those two years sell and pay no cap gains. If the markets not there and I'm done then I'll rent it out for 3 years then move back and sell-no cap gains. Looks like it will be this strategy for my current house. There so much you can do with realestate to make money, it's the ultimate diversification investment. 

Im going to leave you with maybe the best advice I've ever read or seen.


> Don't do a process that needs to be repeated, find a process that repeats itself.


 That's all I can tell you.


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## Premier_929 (Dec 30, 2010)

Well everyone SURE has their own opinion... and FINALLY some positive feedback.


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## BKFranks (Feb 19, 2008)

What I see is people buying up undervalued homes is crappy areas in other states. Then fixing them up enough to rent out. Then they market these homes, not to the people in those areas, but they market them to people in other states where homes cost far more like California and their incomes are higher.


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## JBM (Mar 31, 2011)

Premier_929 said:


> , but the jobs are'nt really rollin in


I hope you take this with the constructiveness it is intended. Your website needs alot of work. The way it is right now wont bring you in much business. It is small, only 4 pages, has 15 backlinks, and is kinda generic. I almost think it is a yellow pages site you had done.

This doesnt mean too much really, but it scored a 25 @ websitegraderdotcom. 

I would attack this issue with everything you have. There is alot of information at the seo section on this forum.


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## angus242 (Oct 20, 2007)

Premier_929 said:


> Well everyone SURE has their own opinion... and FINALLY some positive feedback.


Everyone basically agrees, as a GC looking for an investor to work for to flip houses is not a good idea right now. That was your original question. 

While it may not have been what you wanted to hear, I think that is positive feedback. You could have had all of us encourage you to follow that path and then fail miserably. That wouldn't have been cool.


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## Premier_929 (Dec 30, 2010)

JBM said:


> I hope you take this with the constructiveness it is intended. Your website needs alot of work. The way it is right now wont bring you in much business. It is small, only 4 pages, has 15 backlinks, and is kinda generic. I almost think it is a yellow pages site you had done.
> 
> This doesnt mean too much really, but it scored a 25 @ websitegraderdotcom.
> 
> I would attack this issue with everything you have. There is alot of information at the seo section on this forum.


Thanks for the input, but the website is through Outrank.com and they designed it. I really have not gotten more than 2 responses from customers. What do you suggest I do to improve it? Most of my work is through word of mouth.


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## J L (Nov 16, 2009)

FWIW - it's no longer called flipping. It's a short term real estate investment. Flipping was so 2005.

I personally think money can be made in real estate right now. But on the buying end - not the fixing up end. Around here you can find a house for 35k, plan on doing 30k work, and sell it for 90k. If you're going to work with an investor, they're going to make most if not all of the money. The house has to be move in ready and nicer than most of the other homes at the same price point. With the right house, it can be done. If you have cash to spare, buy and rent houses right now. It's a great time to buy.


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## Jaws (Dec 20, 2010)

I sincerely thought about building a small but high end spec home and entering it in our Parade of Homes, to show case our finish work, but their are to many nice homes on the market for so little money, im afraid it wouldn't sell very quick and murder my wallet. 

Good Luck, JAW


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