MONEY: Is there still money to be made with buying a house in distress/fixing/ and re-selling it for a profit?

Question

Are a lot of investors still making money by doing this? Do you think this is a good way to make money or do you know of a better way? what is it?

Answer 1

A lot? No, probably not.

The people making money at it now are the same ones who made money at it before – the ones who either have great real estate agents sniffing out amazing deals in desirable areas for them or have the time to do it themselves, the ones who have reliable contractors to do the work at a reasonable price, the ones who know what sorts of changes/upgrades are appropriate for a given area, the ones who understand building code & permit requirements, and ultimately the ones who have the capitol to pay for it all and to weather the occasional loss.

Great way to make money? Maybe, after a nasty learning curve IF you’re both intelligent enough to learn from your mistakes & lucky.  

Answer 2

Yes,but you'll nearly have to steal it. The cost of materials has skyrocketed like everything else! ;-(=

Answer 3

yeah....u have asked a brilant question......the thing is the "place" where the above mentioned house is situated makes all the difference........that is if it is situated in a nice place then we can buy that ....

Answer 4

yes, it depends on the area.  

Answer 5

Only on TV.

You may buy it cheap, but good luck selling it.

Not just for a profit....but plainly....selling it.