Housing News
Are short sales a gold mine or a rabbit hole for flipping?
Flipping short sales is being sold as an investor gold mine, but is it as easy as it sounds? Let’s discuss.

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Garrett Nelson
August 6, 2013 at 1:06 pm
I’m not exactly sure what this article is about. First you say that your friend took a class about how they could buy foreclosed properties in California and flip them and make a lot of money, but then you talk exclusively about short sales. When looking for a home to flip I don’t think it matters if it’s a Short Sale, or foreclosed home, etc. What matters is that you’re able to buy it at the right price and know that you’ll be able to resell it for X once you invest some into it. When trying to resell anything for profit, it all comes down to the price you can buy it at, not the end price. And the Status of the home doesn’t automatically mean it will be a good deal and sell at a low price. Banks want to get the most money possible out of property, so the don’t sell them at a super discounted rate just because they’re a Short Sale.