Recently, I was on my way to work and a commercial came over the airwaves advertising a free seminar on how to "Flip Homes in Tampa in your Spare Time." Needless to say I was not only surprised but a little sick to my stomach. Yes, we are experiencing just a little bump upward in home sales and pricing do to private equity buying up most of the inventory, but this message is not similar to just a few years ago, IT'S EXACTLY THE SAME MESSAGE that we all heard just prior to the whole market crashing to the ground here in Tampa. Now, can you successfully buy, renovate and flip a home and make some money, yes, but it's not the enterprise you want it to be "in your spare time". Please beware the signs before you do anything involving risk. Investing in the financial markets, real estate, business all carry some risk and you have to have a plan in case things go wrong. Betting the farm with next months rent money will almost always get you burned.
The signs of a bubble forming are upon us as I type this. The article below is mainly about the market in California, but the signs apply to all markets across the country. The first paragraph pretty much spells out the guidelines.
The Next Housing Bubble is Upon Us
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