Anyone here a house flipper?

>erotic stomach punching fetish

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I don't get why everyone isn't flipping houses. Buy a plot of land for a few k, draw up some designs, hire contractors and buy materials. Surely that can't cost more than 100k for an average sized house? Sell for a few hundred thousand. Do just 1 house a year and you're in the 1%. Why isn't every brainlet doing this? Am i missing something?

Isn't it super risky right now since the market is only going UP and UP and UP.

And I only have around 30-40k available to me for this.

Riskier than investing in meme money? Anything that has the potential to make a lot of money usually carries risk. Also, the margins are just so high, a housing crash probably wouldn't have much of an effect. Even if it did, you can just rent the place out until the market recovers to a point where you want to sell.

Im assuming you're in the USA. There's a ton of crazy cheap dilapidated houses out there you can pick up for a couple thousand and flip for 50k

Interesting.

Cheapest in my Area is a 85k 605 sqft apartment thats in such a trashy area that if my way of thinking is right..

no renovations would improve the amount I could rent or sell it for

That's pretty hot.

Sorry, didn't mean in USA, I meant to say in Detroit

I do some flips, but recently I've been building new homes on spec. The foreclosures that I've recently bought I've just kept as rentals.

Do you chain together mortgages?
So one rental pays for the other mortages?
What would you do if it all crashes?