I read in the December issue of Money magazine that flipping is out in 2006 since inventory is high and there is too much selling competition. I realize this is a general comment and may not apply to a specific market that is hot. For someone that is just starting out, this is not encouraging.
What do you guys think?
It’s fluff. I will guess that the author has not owned more than 1 piece of real estate in his/her life.
It is risky and uncertain predicting the future. Always has been. If real estate investing was a sure thing then everybody in the county would be doing it. What’s the fun in that?
I would put that information in the box with “This is the year the ‘bubble’ will burst”…
Keith
The author might be talking about the speculative type of flipping, i.e. buying with no intention of improving the property, just letting time and the appreciation fairy bring up the value. Yeah, I would agree that’s out in most places.
hey you guys and gals,
I actually read that issue of MONEY MAGAZINE…I read that “little” article that is untrue especially in San Antonio…it’s a very hot market in flipping…I totally disagree with what the writer said. >:(
get er dun
Money Magazine is generalizing. Flipping can be done in any market as long as the price is right. There were people flipping “down” markets, up markets, etc. The last poster was right. San Antonio, Bastrop, and many areas in Central Texas will be excellent investment areas for flippers in 2006 and 2007.
How do you guys flip in areas you don’t live in? Some of you are seasoned flippers and may have contacts all over. But for someone starting out, do I hop on a plane and head to San Antonio? I live in California. What’s the best way to start flipping in another area you don’t live in?