[Nicholasp27]

there is ALWAYS money to be made in flipping just like there are ALWAYS real estate markets that are booming...the national real estate market doesn't matter...what matters is the submarket that you are working in

submarkets go beyond just city/state...the north-east side of the city will be a different submarket than the north-west side

and even then, there is residential in the asset market, and then retail, office and warehousing in the space market



flipping a house is simply a math equation...u just have to understand all the variables that go into it (unlike what they show u on the shows) and then learn how to minimize/maximize various variables to make the most profit


i'd think getting an appraiser's license (or at least training) would be more valuable in the long run than a real estate license...


an appraiser's training and skillset would allow u to not only accurately gauge the value of homes, but also gauge what the selling price will be after repairs x,y, and z...

u wanna minimize the repair cost/value added ratio

to do that, u can lower repair costs by

a) do some work yourself
b) good network of low-priced labor
c) knowing which ones to do and which ones to NOT do

and u can maximize ur selling price by knowing which repairs will add the most value to the home

u balance repair costs, value added and TIME (since there are holding costs) to maximize ur profit


there are some more generic projects that add in lots of value and some that are lesser known that add lots of value

for instance, in many markets, closing in a loft/etc to make it go from 1 or 2 bedrooms to 2 or 3 bedrooms will add 20k+ to the value, yet cost <1k to do

it really depends on your submarket, so know it very well...thus why knowing how to accurately gauge those things is helpful, so an appraiser's license/training is of great value


u also have to look at your projected internal rate of return on each project to see how much more you are making than putting that money into other investment vehicles

also, if u are doing the repairs yourself or managing over the projects daily as your job, then you need to look at how much you could have made had you worked a job instead during the timeframe


if u know what u are doing, u can make a ton of money at it, and even make it seem easy...but that's because KNOWLEDGE is money...but if u don't know what u are doing, and u make gross overgeneralizations about the variables without seeing the underlying reasoning behind cause-and-effect, then you can lose a lot as well