The best way to make money in real estate is like everyone else says to make your money when you purchase the home. That said at the start of this year it was very hard to buy "fixer uppers" as people were over paying for them as they were looked opon as guarantee money no matter what you paid. Now as the market cools there are so called deals out there, they're just very hard to find as everyone in the city has seen the profits made and now there are so many people who want to invest in real estate. Welist was a great source for investors at the start of the year as people didn't know what their home was worth and were selling way under value, now it's the exact opposite as everyone thinks their home is worth millions.
As a real estate agent my advice to make money flipping is to buy in the slow months (now til january), pay less than market value by finding a motivated seller or uneducated seller look for vacant homes. Have a longer possession date say 90-120 days then come May-July do your fixes and sell during the hot time. Gobsgraham you'll need a realtor who will work with you on this as it's very hard to determine profit on homes right now and be very careful picking one as some will put you into a house will no potential just to make a sale. If within a week that realtor has how every many house that are guarantee profit he's just trying to sell.
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