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Flipping Homes for Profit
House flipping - it's the big trend in real estate. For those who are not risk-adverse and have a good eye for a home's potential, house flipping can be a lucrative money-making venture. However, it isn't for everyone, nor is it for every market. What is house flipping? House flipping involves buying a home, improving it, and then quickly selling it again, presumably for a profit. For example, say a house goes on the market that is a real eyesore. A house flipper buys it and makes some cosmetic changes before putting it back on the market at a much higher price. How do you make it work? Any old house won't do for house flipping. Just because a house is in dilapidated condition and priced low does not necessarily mean that it is prime for flipping. There are certain factors that increase the potential for a successful "flip."
· Location, location, location. The old adage of real estate holds true in house flipping, too. You can buy a house with the greatest potential at the cheapest price, but if its location is bad, it could be a recipe for disaster. For example, a house with train tracks running ... more
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