Flipping works in any market?

[Jason Grote]

Our family chose flipping homes as our bread and butter because it seems that the overall real estate market is not that great of a factor. If you know the market is depressed in an area, you can acquire a home in that area with that in mind.

We recently purchased a home in Northeast Austin, Texas in a neighborhood that we thought was on the rise. Unfortunately, the homeowners needed several months to build their new home and move into it. After rehabbing the home, it had been 7 months since we acquired it. In this time the market shifted and this area became COLD! The house sat on the market for 110 days before we got our first offer! Yuck! This is not an ideal situation for a flipper.

When a flipper has the controlled variable of buying and selling within a short time, they can make a smarter investment... any thoughts??

[Chris Martin]

Flipping in some markets is like day trading stocks. You don't always call it right. Sometimes you miss. In the big picture, hopefully you don't miss too much. Contain/minimize your losses and know when to move on with a loss. I think it is part of the business.