I want to become a person who buy the house and sell it for more profit is the call Real Estate something?
I want to start my own business in buying house for the price of it and then sell it for a little more price. What is that call? How do I get started is it hard? Do you have to hire someone? Or can you do it yourself? Do you have to have a license or not? Can anybody tell me how to get started?
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December 28th, 2009 at 7:37 pm
try startin as an investor mate
December 29th, 2009 at 6:52 am
well they are called house flippers and if i were u i would not do it when the economy is bad. It is very hard to sell homes these days
If you do get started i dont think u need a license its like if u buy the house u are currently living in. did u need a license to get it?
you can do it yourself but workers would help. get started by carefully buying a house, but make sure you have enough money to do the job
December 30th, 2009 at 8:58 am
Great I like the idea, First you have to check your state’s Real estate laws, Where I’m at you dont need a license to Flip a house. That’s the name of it (flipping houses)
You can do it your self if you know what your doing. You will need to have a Licensed for the Construction depending on your state. Where I live The Electric, Plumbing and heating and air people have to be licensed and it has to go through inspection, before you can move in your need wants called a C.O. Certificate of Occupancy.
The best place is to google your State for example NJ+real estate laws
January 2nd, 2010 at 7:20 am
This process is called flipping houses. Read all the literature you can find on real estate and property investments. You don’t have to have a license, but for investment purposes, you usually have to have 20% down for a loan.
January 4th, 2010 at 7:35 am
I want to start my own business in buying house for the price of it and then sell it for a little more price. What is that call?
Investing. It is called “flipping” if you buy and sell shortly thereafter. In this market, there is not too much of that done anymore. It depends on your area of the country, but in my area (California) some people expect the real estate market to keep declining for another couple of years before is hits bottom. You might want to wait untill the markets bottom out before getting involved.
How do I get started is it hard?
The hardest part is buying right. If you buy a property and pay too much or it has too much work to be done ot it, you can loose money. Also, if you have to hold the house too long before you sell it, you can loose money.
Do you have to hire someone?
No.
Or can you do it yourself?
Yes.
Do you have to have a license or not?
No license is required if you are doing this for your self.
Can anybody tell me how to get started?
Study the markets. Make sure you know porperty values. Wait until prices have bottomed. Wait for a fantastic deal on a property.
Good luck.
Jim Kirby, CPA/PFS, CFP, CFS