Flipping Foreclosed Homes is a Business

Homepreneurs suggested property management in a previous post as a good home business.  Many individual property managers buy up and fix foreclosed homes and resell them, hopefully at a profit.  This process, called flipping, was very popular before the housing market meltdown.

 

For a person with skills and experience in home repair and improvement, this seems like a great idea.  A hobby extended to a business, something we’d all love to do.

Buying foreclosed homes has risk, too.  WhiteFenceSavings.com has posted a recent article: 10 Hidden Hazards to Check for When Buying Foreclosed Homes.

 

flipping foreclosed homes

From property destruction to no disclosure and simply unclean homes, those interested in buying and/or flipping foreclosed houses should read this article.  As WhiteFenceSavings.com points out, “…buying a foreclosed property can be a great way to save money. However, be sure to look into all the potential costs involved before making a final decision. Do the math to determine if you will really wind up saving, or if the property will end up costing you when all is said and done.”

Want to make money and enjoy what you do?  Buy a foreclosure, fix it up and sell it for a profit or rent and manage the property.  Be warned though, like the stock market or any other investment, risks exist.  Do your homework.

Flipping Foreclosed Homes For Profit: The Rich Do It To Cheap Homes

A common real estate strategy of buying foreclosed homes to rent them out or later sell for profits has focused on the cheapest foreclosed homes, according to a post by Standards & Poors Financial Services LLC, which produces the leading tracker of U.S
Buy Foreclosed Homes: Housing Website Now Links Buyers with Foreclosures …

Sales of foreclosed homes still continues to dominate a portion of the real estate industry in many states in the U.S., according to housing data. The Real Estate News Wire company has now launched its partner services online to help men and women to
States With The Most Zombie Homes

In Indiana, for example, roughly 30% of the 16,618 foreclosed homes have been abandoned. 24/7 Wall St. identified those states with more than 10,000 homes in foreclosure, and at least a one-in-five foreclosure vacancy rate. These are the seven states