Is Buying and Flipping Foreclosures Easy?

Question

Buying and flipping foreclosures, I hear its really easy, but I'm skeptical. Is it easy?

Answer 1

It's only easy if you do it right. Take the time, do your research. You can flip in any market.

A good place to start would be the articles and advice at www.reiclub.com

Answer 2

Not in this market. Not for the next 5 years is the market suppose to pick up. If you do don't expect to make any profit until several years down the line. Right now is a bad time to buy even foreclosures and you don't know what you will get with a foreclosed home.

Now if you are wanting to turn it into a rental then I say go for it. The rental market is up at the moment and will continue as more people lose their homes to foreclosure.

Answer 3

yes actually. you can get started fairly quickly. i flipped my first foreclosure 6 months ago and i'm now like a machine! lol.

there's the guide called tax liens made easy which teaches you to take advantage of foreclosures, which is what i used. take a look at http://www.taxliensmadeeasy.info

dude it shouldn't be hard if you know where to look :)

Answer 4

You known all those TV shows they have now showing people flipping houses and making a ton of money?  Well, don't expect that.  If you have ever owned a home you know how hard it is to maintain it.  When you buy a foreclosed home you buy "as is" and many come with hidden little treats that will cost you thousands to fix, add to that all the time it takes to fix the house and then put it on the market you will not make much if anything in profit.

Answer 5

Depends on the market.  It's a great time to buy, hard to sell at top dollar.  At least in the market I'm in.