There are a lot of people really interested in flipping homes again. I see it happening more and more these days. A lot of people got out of the business a few years back when things turned bad. Now they're back and pushing pices up. That's good in a way I guess. But it makes it more difficult for me to find good deals on the front end.
Buying a house, fixing it, and selling it for a profit is more diffiuclt than you would think. Just finding the property is a pain. I talked to a guy at McDonald's just the other day who oversimplified it in a typical manner. He thought that all you do is print up a list of homes for sale in Plymouth and then go look at them, put an offer in, get a loan, get some contractors to do the work, then call a Realtor and sell it.
What a joke. It's usually much, much more difficult than that, and much more involved too. [Read more]