In todays market in the professional opinion of those rehabbing or simply investing.What is your opinion of the possibility of earning a full time pay simply doing rehabs. Are there enough properties in the country with enough spreads to do it full time with rising interest rates and market deflation.I was told the other day by one wise minded individual that If you buy low enough and rehab appropriatly you can make money day or night in any market .What do you think?
Um… yes. ;D
A person can definitely make a living with rehabbing IF you buy at a big enough discount and properly estimate the rehab costs and time. If this is what you want to get into, why not try one and see how it goes. The experience should answer your question.
BUY LOW!
Mike
Excellent question Campbell. I’m wondering if it is possible in the midwest where we don’t have out of sight inflated skyrocketing property values???
Jeff
Silly question considering how many people on this site alone are doing that very thing.
Now Rich_in_CT,
You dont strike me as one that believes everything he reads 
Mike , I know there are people doing it .I have done many of them but havnt been real sucessful at flipping in the appreciating market Im in which sounds A*( backwards but we strugled with HML lending and lack of experience.As I know you have followed my posts as well has Mike I have been frantically trying to find a comfort position to invest in to get out of my day JOB.We have set our Commercial ideas aside due to lack of knowledge at this time and are leaning toward making a run at what we know again and flipping rehabs . Just not here due to over inflation .Fortunatly we have made some VERY wise decisions this past few years and are in a position to use our own cash now and we have much experience in the rehab / residential market.So now Im just trying to muster up the courage to tell the paycheck goodbye :-[A little experience we had recently is We had a duplex in crack town and we wanted to get out of there and my next door neighbor was selling his prop.My Dad and partner was hesitant because he thought I just wanted my neighbors house because it was the nicest duplex on the market.He was offering it for $250,000 and we just bought 2 other ones on the same street for $200,000 4 months earlier.My dad thought I was going to sink us but I convinced him it was a good Idea.We 1031 exchanged our cracktown house and negotiated the next door home down to $240,000.To start they appraised his duplex at $290,000(he doesnt know)so we recieved $50,000 in equity from the get go.Then I was always told you could not take a heloc on investment prop only to find that to be false so when we decided to try and get me out of my day J.O.B. we decided to open a heloc on this prop we just bought 8 months ago.(the whole get your financing lined up first)Much to our suprise the bank , the nations largest bank probably, appraised the duplex at $360,000 .Yes we aquired $120,000 in equity in 8 months :D.What if the market adjusts worse than it ever has ?$320,000 X say .12 =$281,600 ok so thats $41,000 in 8 months :DBut what is the chance of the market going down 12% tomorrow Not gonna happen.Keep it up newbies there’s hope .And you all have been a GREAT inspiration for me who isn’t completly new but just needing reassurance and guidance .Thank You ,to all