What is House FlippingWhether you are house flipping in Reading, Pennsylvania or flipping houses in Los Angeles, CA, the process is essentially the same.

So What is House Flipping?

You find a property, whether listed for sale or not, determine how much you can buy the property for, how much it will cost to renovate it, how much you can make and how long it might take to sell it.  Seems simple enough, right?

Yet while the basic process seems easy to understand, if house flipping is such an easy way to make millions in real estate, then everybody would be doing it.

Further, those who flipped houses over the previous 10 years might have decided to get out of the business altogether after failed project after failed project.

But the process of buying low and selling high is still as valid today as it ever was.

The difference today is the status of homes for sale in the open market.  Ten years ago, anyone could qualify for a quick loan.

Real estate prices were constantly on the rise and all it took was buying a house, waiting then selling.  Yet we all know what eventually happened.  The music stopped and there weren’t enough chairs left for the players.

In today’s market, flipping opportunities might come from a distressed seller. Or a bank has a few too many homes in the foreclosure process.

Perhaps a home for sale is listed for less than what is owed.  Any and all of these scenarios provide real opportunity for a successful flip.  But it takes more than just showing up at the closing table.

Successful house flipping in Reading, PA or anywhere else requires patience, analysis and timing. Those three traits have long been in the toolbox of the successful real estate investor.

House flipping is indeed alive and well.

Talk soon,
David Slabon