Flipping Houses

by John
(Auburn, Ontario )

Hi there,

So I got this brain wave about fixing up older houses an selling them...

Is there much in it? Is it worth it?

Starting out small buying a decent house that should sell but tack on enough profit say..40% or is that number really high? What are my chances of actually being able to do this from scratch? Are there areas in Canada that sell better than others if so.. Where?

I'm really eager to try it but I don't wanna bail on the first house.. Hope to hear from you!

Thx John

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Jul 23, 2014
RE: Flipping Houses
by: Tom

Hi John,

It's definitely possible. One of our team members at Rock Star Real Estate has done it over 20 times now. Started with small properties and moved up to multi-million dollar homes.

The key, in our humble opinion, is to buy the property right. So when you buy you leave plenty of room for reno, carrying costs, selling agent fees, etc..

I'd interview agents in the area that have been around for a while, they've likely bumped into people doing it in your area and can give you some general guidance. If you can work with someone who has done it before it's a huge shortcut to your success.

Thanks so much for the question!


Tom

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