Another good occupation to maximize this opportunity is being a reality agent. Just because your transaction fees are lower and you see the deals first.
International Level: Senior Politician / Political Participation: 188 18.8%
Flipping properties is the way to go if you do have the capital, but if you are the go getting type then you can make good use of the banks. Buy a home for cheap, develop it and then resell for more than you paid - already you have doubled your money. It takes a certain kind of person to do this though. If you are the type that is very dependent on others to make things work then you may not reach very far or your profit will be low. I know this from watching my mother in the business for a long time.
International Level: International Guru / Political Participation: 3231 100%
I know someone who does this. Well, he buys properties then rents them out. The down side to having renters is that the people might not pay on time and you usually have to fix things if they break. It could be neat to buy houses, repair them, then sell them. You'd have to have extra money to take the risks though. Also you'd end up putting time and money into the houses. This might be fun if you don't have to worry about money for awhile and if you like to fix things.
International Level: Politics 101 / Political Participation: 5 0.5%
I think flipping properties is a great way to make money if you have money to spare. If you have the skills as well you can fix it yourself and save the money.
International Level: Politics 101 / Political Participation: 0 0%
Preparing for a Home Flipping Venture
Before you enter the business of home flipping, you should prepare every aspect of the venture first. Looking at properties and choosing the ones to buy is not exactly the ideal first step. There are more preparations needed even before you look for a residence to purchase.
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