Downward angle icon Downward angle icon. There's a lot you don't see in before and after photos. Tania Griffis Flipping a house isn't like it's portrayed on reality TV. Flipping a house can be rewarding and a good investment, but you need to be prepared for unexpected issues, budget stretches, time-consuming mistakes, prolonged renovations, and problems selling on the market. What's it really like flipping a house, according to people who've done it? Visit Business Insider's homepage for more stories. “Flip or Flop” is not only the name of HGTV's most popular home renovation show, it also speaks to the…
Author: Private Lending Agent
Some people look at our red bricks and see them as green. A new report from Realtor.com says St. Louis is one of the top markets in the nation for home resale. The ranking is based on the number of investment home sales in the 100 largest metropolitan areas in the United States, with St. Louis taking the top spot with 18.8% of the region's sales being investment property sales. In second place was Birmingham, Alabama (17.3%), and in third place was Miami, Florida (17%).So where are the newly renovated, bright, beautiful, subway tiled homes? As Realtor.com points out, these…
Zulix claims to teach people how to make money flipping homes. Its advertisements feature celebrities such as Tarek El Moussa and Christina El Moussa from HGTV's “Flip or Flop,” Hilary Farr from the same network's “Love It or List It,” and Peter Souleris and Dave Seymour from A&E's “Flipping Boston.” The ads tout “free events” and claim that Zulix will teach consumers how to make money flipping homes “using someone else's money.” According to the FTC, the free “seminars” were actually sales pitches for three-day workshops that cost nearly $2,000 to attend. Attendees at the free events were told the…
Have you ever thought that those celebrity-endorsed real estate seminars that promise to get rich quick by flipping houses using other people's money sound too good to be true? Turns out, they might be right. The Federal Trade Commission and the Utah Department of Consumer Protection announced this week that they were suing a Utah-based company for allegedly lying to entice consumers to participate in its purportedly free real estate seminars, where the company promised free tips to make money flipping homes, but in reality charged thousands, or even tens of thousands of dollars, for those “tips.” According to the…
Is house flipping right for you? Don't be fooled by the TV shows: flipping a house is hard work, but that doesn't mean you can't do it, or that it can't be profitable. House flipping – the process of buying property, renovating it and selling it at a profit – has become a phenomenon in the US, thanks in large part to the popularity of shows like Texas Flip n Move, Masters of Flip, 5 Day Flip and Flip or Flop, and the (potential) money that can be made. Read more: Top 5 down payment savings tips for first-time home…
Real estate data showed investment gains from home resales hit an eight-year low in the second quarter, with the number of homes being resold falling more than 5% from a year earlier. During that same period, home prices themselves rose more than 4%, but profits on resold homes fell 2%. “Flipping” a house or condo — buying it cheap, renovating it and selling it at a profit — is as much a part of the American dream as homeownership itself, and cable TV is replete with hit shows like “Flipping Out,” “Flip This House” and “Flipping Vegas.” But recent data…
Real estate data showed investment gains from home resales hit an eight-year low in the second quarter, with the number of homes being resold falling more than 5% from a year earlier. During that same period, home prices themselves rose more than 4%, but profits on resold homes fell 2%. “Flipping” a house or condo — buying it cheap, renovating it, and selling it at a profit — is as much a part of the American dream as homeownership itself, and cable TV is replete with hit shows like “Flipping Out,” “Flip This House” and “Flipping Vegas.” But recent data…
Sen. Bernie Sanders (I-VT) on Wednesday unveiled a new plan to tackle America's affordable housing crisis, a day after he made headlines by criticizing President Trump for his role in California's homelessness crisis.Sanders, who wants to challenge Trump for the Democratic presidential nomination in 2020, laid out a series of ideas including rebuilding America's public housing, making rent affordable, strengthening tenant rights, ending homelessness and making home affordability more affordable — he also had a section dedicated to tackling gentrification.”We must encourage expansion and new construction while not forcing current tenants and homeowners out of their homes and neighborhoods,” the…
A combination of low interest rates, low inventory and a booming economy has created a near-ideal situation for home flippers who buy properties, fix them up and sell them quickly at a profit. But the prospect of a recession could quickly change that equation, experts warn.”We're definitely reaching the top of the bubble,” Taylor Denchfield, a Washington, D.C.-area real estate broker, said in an interview on CNBC's “American Greed.”Denchfield says he has been flipping houses since he was 17 (he is now 25).Data from the first three months of the year suggests the property resale market is already starting to…
Denchfield says he has been flipping houses since he was 17 (he is now 25).Data from the first three months of the year suggests the property resale market is already starting to cool.Flippers flipped more than 49,000 homes in the first quarter, accounting for 7.2% of total home sales in the quarter and the highest rate since 2010, according to real-estate-research firm Atom Data Solutions. But profits on those sales were down nearly 10% from a year ago. The average return on investment (38.7%) was the lowest since mid-2011. And the number of flippers fell 11%.”Investors may want to exit…