real estate


Question by  nishanth (46)

How much money does it take to flip houses?

I am not making much money at my job, and I have an eye for design, so I think I could be successful, but I don't have a lot of money to put into it.


Answer by  Ann89 (613)

You need to buy property which requires little work as this can erode your profit. Ultimately you should aim to buy a property where you are positively geared where the tenant meets your monthly repayments. Normally you will need a deposit of at least 20% of the purchase price.


Answer by  Hewitt302 (1720)

In this market, you can flip a home for as low as $50,000. Since the market is so bad, I would not invest right now. Wait it out another year.


Answer by  patti (29325)

It takes a good bit of cash on hand. How much depends on the property and what needs to be done by hired tradespeople.

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