A 3 bed 2 bath, 1800 sq/ft house on nearly an acre. Great safe area, growing, good schools. Getting it very cheaply. T his will be our third flip if we can get it. The question is whether or not to get it even though our chances of selling right now are very low. We can rent it and cash flow it til we do sell. We'll have to use a hard money loan for now.
As a Dave Ramsey girl I'm very leery of getting any type of loan for anything. But the potential return is around 25K easy and when the market turns..which it will for all you skeptics...this could be a great buy. It easily fits into the 70/30 rule of after repair value.
So my question is for you Flippers out there (yes I know you lawyers hate that term..think Flip that House)
Are any of you buying real estate and sitting on it or flipping it and how's it going for you. I'd love your feedback.
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