/biz/ - Business & Finance

>>50968814
>google real estate price chart
>see we're near all time high
>delete thread
>wait for market crash
thanks for reading my post.

Sure, if you have the right skills. I think those skills are considerable though, and it could be dirty work

ARE YOU READY TO SEE YOUR FIXER UPPER

>>50968814
I have friends that still do it but they owned the property back in 2018 and just now got around to flipping it.
Each one had the same set up
>GC license with Handyman/Trade skill prior
>Stable job/Crazy overtime hours to keep themselves afloat during the flip
One of them stopped doing it and now just rents out the properties he fixed up because you make more that way.

Real talk: Property is not what its cracked upto be. Most landlords run at a loss (see Australia) and most builders are cutting corners and doing poor jobs.

The only people making money are the banks and old-realestate moguls whove owned their properties handed down to them paid off.

>>50968929
people underestimate the skill it takes
You also need 5000 bucks worth of tools but in grand scheme not crazy
t. currently flipping in leafland

>>50968866
yes but after the market crash will house flipping still exist as a profitable business
valuation and overvaluation will come down so charging insane markup on some shitty cosmetic innovations would bring in the big bucks anymore

tfw no texas raised azn qt cooking garden loving antique browsing waifu

>>50972542
If you rent, you need to make your space liveable after tenants leave (they fuck up the paint at minimum, at worst... really bad lol)
If you want to buy, undertaking renovations is a serious ordeal for people that work day jobs, and people seeking to rent immediately also don't want to have to bridge massive renovations (especially when they want all costs consolidated under mortgage, not LOC).
If there is a massive housing crash, the economies of Canada, Australia, New Zealand and increasingly, the USA, are fucked.
Roughly 1/2 working americans is currently working for an insolvent/unprofitable company.

>>50972607
yes but you state the opposite of the anon i was replying too, he said bluntly wait for market crash
you say market crash will not be bad because it would collapse the whole scam, i can see that
but in a collapse it stands to reason that house flipping dies as a possibility

>>50968866
>nonstop going up since always, with minor corrections
>bothering to talk about "all time high"
???

Highly depends on the loan market and rates

People buy houses when rates are low and they get loans easily, current state is increasing rates and people being scared, so bad time to flip imo

Lots of zestimate screenshots of flippers reducing their prices in the last weeks because none is buying and they get eaten by rate payments

>>50968866
>wait for market crash
not this time
federal reserve got caught with their pants down in 2008
that was a once in a lifetime opporunity

this time they are going to give unlimited funds (disguised as loans, which they will later forgive) to blackrock to buy up every home they can
it doesn't matter if the prices of homes goes down, blackrock will be given as much as they need.
(((they)) have to take away the single biggest asset from you and make your money worthless.
also 83,000 new IRS agents to audit your capital gains
enjoy your property tax on the pod you had to buy, which will be higher than the tax you were paying on your 2000sqft home that you just sold.

>>50972601
I'm building one rn, just moved my hot 100lb Ukrainian out to texas, she cooks and cleans and is helping me design our new house