Re: Flipping houses, how much profit to expect after remodeling?
The advice here is to study the market that you want to flip houses in. That is the real key to how successful you will be. Without knowing the market, you will never know how much money you can make. Is the market rising? Falling? Flat? Are people moving in or moving out? By the market, it is the local geographic area that you plan to flip in and not "THE REAL ESTATE MARKET", where people tend to generalize national trends to local areas. Understand the market. Study it. Speak with real estate brokers to know the area. Drive around in the area..all of it. Also understand that there is no "easy flip" and that you will need to understand the notion of carrying costs, interest costs, lawyers fee, agents fees, insurance and a whole host of soft costs that they really don't go over in the "Flip this house" type of shows.
All of those variables will affect the profit you make. No one can give you a reasonable answer to your question without knowing all of those details.
THE HUN.
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