The "Fix And Flip" Crowd Is Fired Up
About 1,000 investors and would-be investors spent the weekend at Phoenix Civic Plaza attending the Real Estate Investors and Landlords Conference & Expo.
Many came to learn how to find cheap properties and then "fix and flip" them.
The fact that housing prices have stabilized or even fallen in some areas and the number of homes for sale has risen significantly in the past few months didn't seem to cool interest.
Phoenix investor Dolf de Roos, the featured speaker at the event, said "It does affect the short term. I think the heat is going to come out of the market a little bit but not long and not much."
He said that even if housing prices come down by 5 or 10 percent, investors still came out ahead because the prices had grown by about 40 percent last year.
De Roos said the Phoenix area remains good for real estate investing because it is growing and has several major employers. More...
posted by Arizona Real Estate News @ 12:37 PM
1 comments
1 Comments:
I'm already a fixer and soon to be a flipper and looking forward to my next project.
People ask me how I got the house in the first place, thinking it was by owner or word-of-mouth but actually I had been working with a real estate agent. We had looked at a dozen or so homes that were ready to move in to when he suggested looking at one more “that needed a little work.”
He pointed out all the pro's and also that with some TLC I would have lots more house for my money than if I bought one of the others.
The house I bought has nearly doubled from what I paid (including what I invested to fix it up) and that was in 5 years.
Will I use this agent again? You bet!
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