I don't flip, but I'm thinking of doing that one day, probably in 2-3 years. Right now I just hold on to the real estate. My job doesn't allow me the time it takes to get that stuff done.
But I would think that if I were into flipping houses, as in 4-5 a year, I would spend some coin on some furniture. Vacant houses are so unfriendly when you're looking at buying, IMO.
As for the cycles, there are generally standard times of the year when prices go up and down. I expect another bump from January to April, but it won't be anything like last year, unfortunately. June/July/August are usually pretty slow.
Oh, and flipping doesn't really make sense unless you're coming out with a capital gain of 30k, depending on how many renovations you do.
Foreclosures and estate sales? Good luck. They aren't the deal they used to be, and the few that are a great deal are picked up by others. There are a ton of people out there looking for the same deals you are.
In the end, your best option is to send out tons of offer sheets. Most of them will be laughed at, but all it takes is one of them to stick and you're making money.
photon's more of a flipper, I think.
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