Heather,
Sometimes the starter homes are easier to flip. Remember your dealing with people that may just be starting out and may not be able to qualify through conventional lenders. Someone just starting out may only need two bedrooms. It’s your job to convince them of the benefits of homeownership. Once they establish themselves, they can either refinance or purchase another home. But if the homes are there, go after them. You “can” move them to the right people.
Profitability of flipping 2 bedroom houses vs. 3+ bedrooms - Posted by Heather - MI
Posted by Heather - MI on February 20, 2000 at 10:44:33:
Hi everyone. Wondered if you could give me some advice.
In my area, I see several 2 bedroom houses for sale by anxious sellers at good prices. Could you share your experience with me about how easy and profitable it is to flip a 2 bedroom vs. a 3+ bedroom?
Most all of these are “starter” homes. My strategy is to buy, fix and re-sell if the house needs work; if it doesn’t need much work, just assign the contract to a retail buyer. I’m planning on advertising owner financing when I sell(creating a note).
Re: Profitability of flipping 2 bedroom houses vs. 3+ bedrooms - Posted by Bill K. - FL
Posted by Bill K. - FL on February 20, 2000 at 17:44:35:
My experience with this is people will rent a two bedroom house and buy a three bedroom house. This may be why the owners are so anxious. They are more difficult to move. You might have better luck with these selling thru a L/O. I also find resistance to only one bath, and lack of central air. Make sure you do your comps on these two bdr. houses and, if you can, find out how long it took them to sell.
