Question:
“I was intrigued by your article last week on fix and flip investors. I have some extra cash and was thinking about getting into that. How hard is it to do?”
Answer:
VERY hard.
Most flippers work crazy long hours, 6-7 days a week. They have to be available to move quickly when the right home hits the market.
And the fix/flip market is HIGHLY competitive. You’d be competing with some real pros for a limited number of fixer upper homes.
How competitive?
I’ve fixed and flipped a few homes in my time, but I haven’t even tried during this cycle. I’m not saying I won’t, but if I do it would have to be a special situation.
Bottom line, you should think not twice, but three times before jumping into fix/flip investing.
