flip that house

[denalilvr 10+ year member]

anyone catch the show called flip this house? i been watching it for about 3 months now and im addicted to it.it comes on station A&E.basically its a show where a person buys a home really cheap puts about $10k-$30k into it and sells it and makes anywhere from $50k- $150k profit within only 2 weeks to 1 month.got me so interested i searched some sites to find homes in preforclosure state and i found tons within 5 miles of where i live some cheap has $100,000...homes in my area go for $300,000-$2 million depending on size.so i think im gona take the risk and purchase one of these homes before it hits forclosure then the big dogs will bid on it..i cant compete with them just yet..so i was told preforclosure is the best time to make a move..anyone else buy homes and flip them for a living?

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[jeeper07 5,000+ posts]

ive seen it and i hope that quote in your sig is a joke

 

[mtdewelf 10+ year member]

ive seen it and i hope that quote in your sig is a joke

HAS to be.

I've seen it, it's alright, haven't had time to watch any shows religously though.

 

[bibby 5,000+ posts]

I'm watching it right now. I like it as much as King of Cars.

 

[denalilvr 10+ year member]

lol yes its a joke..i just got done watching it now..the pink house that was built in 1920.purchased for $198,000 i think they put about $25000 into it so he spent $223,000 and he ends up getting $300,000 for it $77,000 profit in 2 weeks is phuckin sweet..

 

[forceofwill 10+ year member]

Meh, try if you want. You think you're the only person who knows about forclosures? Tons of people think they can get a deal like this. And the "big dogs" look at pre-forclosures as well. Hell, most of the people getting forclosed on even put their home on the market to try and sell it before the sale. You gotta be pretty lucky these days to actually find a home going into forclosure that has any equity in it even worth looking at, down here anyway. The people who make the real money in it don't go to forclosure sales anymore, we get property other places.

 

[atoz350 10+ year member]

In most states "flipping" is illegal anyway. There are laws in place, at least here in MD. that require you to own the property a minimum of 6 months before you can sell it. Check your local laws about that.