House flipping

[rtr]

Anyone know anybody that's in the business of house flipping in el paso county? Good way to make money or a good way to make a big pile of money into a smaller one?

[michael_aos]

My wife has some friends who looked into it. There's money to be made, but there are a lot of people with established connections that are already doing it too.

Mike

[Merl]

sounds like a game of hot potatoe to me

[Delphi]

Definatly a way to make quick money. You'd need lots of willpower and sweat to make it happen, the great thing is you dont need a huge company to do it either, just call in CO-AR15 members to come help ya!

Heck we could start the CO-AR15 House flipping company :P

[Gman]

I don't want any part of that venture.

[Delphi]

I dont really either but if they waived pizza in my face... maybee i'd go for it...

since we all know pizza rules all :lol:

[Colorado Osprey]

My wife is a realator and we looked into it briefly. There are hundreds...yes hundreds that look at the new listings daily to see what's on the market for a steal. Some have very large bank rolls so that houses in the mil plus are not out of their ability.

If you want to try the game concentrate on houses marketed over $400,000 and have been on the market at least 6 months and offer them $50,000 or less than what they are listing for. The problem with houses in this price range is they are not fast movers anywhere except wher you would expect, Denver area or the ski resorts. So, you might get stuck selling at close to what you paid fo rthese places after sitting on them for months.

The $200,000 and under priced homes are overshopped for deals.

[WillysWagon]

I'm not strong enough to 'flip' a house anyway :roll:

[cheapo]

I don't know anything about house flipping. I talked to a woman yesterday who had done some graphic art work for my company, and she told me her house had been forclosed on and that she had 75 days to leave. She said I should contact Wells Fargo and buy the house out of forclosure. I don't have the money to do that. The house is worth about 280k to 290k. She said I could buy if from Wells for 208k.

I don't know anything about forclosures so I don't know how any of this is done. I don't know if there is already a line of people waiting for this house at the bank, but if anyone wants more info on this situation let me know. Her house is in a nice sub in Aurora.