When you’re looking for a house to flip, it’s easy to get second-guess yourself and wonder about the best time to flip a house, or if it’s even possible.
It’s easy to talk yourself into not doing anything and wait for the right time to flip a house.
Here’s the truth: You can flip houses at any time, regardless of the housing market and the economy. Whatever is happening in the market, you have to understand that motivated sellers will always want to sell at a good price and buyers will always want to find a good house at a fair price.
But even though you can flip in any market, you need to understand what you can find in the different markets.
Here’s an overview of how to find opportunities and what to expect:
Depressed market
If you are living in a depressed market, you can easily find properties that are selling below market. Even though properties are easy to find, you don’t want to jump at just any deal. You want a deal that is extremely below market value. In a cold or depressed market, you will find deals so greatly undervalued, you can fix them up, sell them at a discount, be the lowest-priced house on the market and still turn a profit.
Flat market
In a flat market, you can also get phenomenal deals below market value, because there is less competition. Most investors don’t know how to flip in a flat market. If you know what you’re doing, you can be like the only kid on the playground who has all the toys.
Hot market
In a hot market, a lot of people want to sell their houses. This means the profit margins when you flip may not be as big as they are in a slower market, but the deals come fast and sell fast. This means you make lots of money by getting lots of deals. The beauty is that you don’t need to work harder; you just need an effective system.
So how do you know that you can find a house at a good price? Because you can always find a house at a good price. It sounds a little redundant, but it’s true. When you know how the real estate markets really work, you’re prepared for anything. Then your fortune is at your fingertips.
You can flip houses at any time, regardless of the housing market and the economy. Click To Tweet