Flipping Homes: Why This May Be the Best Time Ever

You’ve probably heard that in this soft market, flipping foreclosure homes or probate homes is not a good real estate investing bet. But once you really understand what flipping homes is all about, you realize that it’s sometimes best to ignore what you may have heard.

Flipping homes involves finding an undervalued property, rehabbing it and making it appealing, then quickly selling it at a profit. Though it may seem logical that flipping homes works best in a booming market, the reality is that in a rising market, it may be impossible for someone interested in flipping homes to find bargain basement properties in desirable areas.

In a falling market, flipping foreclosure homes or probate homes can still be profitable, because your holding period is normally too short for the value of the property to fall lower than the discount price at which you got it. And since you will have raised the value of the property by rehabbing it, your likelihood of making a profit is still high.

Additionally, in the current market, you’ll find many opportunities for flipping homes among foreclosure properties whose owners want to unload their houses quickly in order to get rid of their financial burden and salvage their credit.

In fact, many people who make money flipping homes only deal with foreclosure properties, which can often be purchased at well below the market values. Though foreclosure properties may sometimes require more rehabbing than do other undervalued homes, they can still provide you with great opportunities to profit. And don’t forget my favorite, which is probate home investing. This too, is a great way to find bargains. Flipping homes can be highly profitable in any market, but there are definite advantages to flipping homes in a soft market.

About Lance

Lance Young's expertise in real estate investing is grounded in more than 19 years of independent real estate deals and mentoring of novice investors. His first success came with buying and selling preforeclosure houses. Later, he made tremendous profits in the probate house market. In 1996, Lance wrote down what he had learned in a one-of-a-kind, step-by-step program for beginners and seasoned investors that shows how to make money buying preforeclosure and probate houses. The programs are updated frequently to fit the changing real estate market. His investing techniques require just a $10 contract deposit and 10 hours a week finding the most profitable opportunities. Testimonials from his students show that with no experience, people have made first-time profits of $11,000, $31,000 and even $80,000 just by following his simple guidelines. Through his web site, PropertyForeclosure.com, Lance Young has shared his simple, yet powerful investing methods with thousands of students while continuing as an active investor himself. His motto is: To teach others to become successful, you must keep your hand in and practice what you preach.
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