Will Flipping Real Estate Still Work in 2013?
Flipping real estate has only become more popular in the last couple of years between inspiring reality TV shows like ‘Flip This House’ and the massive discounts available o foreclosure properties. Many have made millions from flipping real estate, the question is, will is still work next year as the housing market rebounds?
Obviously the concern of those who have been enjoying making huge money from flipping real estate recently and those who are considering getting in now is that it may not work if REOs and foreclosures dry up.
Of course flipping real estate may become a little tougher for some. Especially for those whom have been spoiled with access to far more homes than they could ever flip, outrageous discounts and cheap properties and record low interest rates, all of which could become a lot tighter very quickly.
Certainly real estate investors in many areas of the country are already complaining that it is increasingly difficult to find deals like they did 6 months ago. Bidding wars are now common on new foreclosure listings and inventory levels have dropped over 60% in places like South Florida and parts of California.
However, those worried about their prospects for flipping real estate and the longevity of it if they get in now, need to remember it was probably even more popular when home prices were at their peak, mortgage rates were double what they are now and sellers were refusing to accept anything less than their lofty asking prices. Investors still made millions then, sometimes over a million dollars a month.
In fact, a rebound brings the one thing we have been missing for flipping real estate fast and for bigger profits recently – tons of hungry buyers. So bring on the rebound, bring on the buyers and keep on flipping for profit.