Yeah, at least in my market, that’s what usually happens. A markets prices don’t change fast enough for an investor to make a buck by doing nothing at all. People make money by flipping houses in neighborhoods that are desirable or are becoming desirable.
It’s strange how the term has changed. When I was a kid I was dragged to real estate seminars, and “flipping” was specifically not modifying the homes, that was “rehabbing”. Flipping was literally just buying cheap and selling for a profit, maybe taking better pictures or making minor adjustments to improve curb appeal. I specifically remember this guy Ron LeGrand, whose motto was “The less I do, the more I make”.
Just to be fair. Many homes are modified aka flipped. Not saying they do a great job….
Yeah, at least in my market, that’s what usually happens. A markets prices don’t change fast enough for an investor to make a buck by doing nothing at all. People make money by flipping houses in neighborhoods that are desirable or are becoming desirable.
It’s strange how the term has changed. When I was a kid I was dragged to real estate seminars, and “flipping” was specifically not modifying the homes, that was “rehabbing”. Flipping was literally just buying cheap and selling for a profit, maybe taking better pictures or making minor adjustments to improve curb appeal. I specifically remember this guy Ron LeGrand, whose motto was “The less I do, the more I make”.