All Forum Posts by: N/A N/A

Trust me, a lot of people have been, or will (when the dust settles) be burned during the recent boom times. It's the people who make the success, not the times. I was in industrial sales, in TX during the late '70s and '80s boom. When the bust came in the mid '80s, some of my salesmen and a lot of my competitors failed. My true salesmen, continued to rock and some of them had record years!

I see a lot of newbies jump in for the wrong reasons;

1. I've been looking long enough and I've got to (mentally, psychologically) do this deal.

2. This is a thin deal, but I need the experience, I'll make my profits on the next one.

3. I thought I could make X dollars, but the market won't support that, so I'll just rent it (often at a negative cash flow) until the market comes up. I call this the "Property Ladder", "Flip That House" mentality. Can't tell you how many times I've seen that scenario on TV.

Just remember, during the "great depression" some industries and business had record sales and profits and a lot of people became millionaires.

all cash

all cash,

Thanks. You are definitely motivating!!

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Hello Joshua,

You have a great site here!

Thanks for the welcome. :D I am doing sort of a doggy paddle now but one day perhaps I will be doing the butterfly strokes! :lol:

I am from Hamilton, NJ. I am married and have twin 5 year old boys. So life sure is busy to say the least!

I am inro working out (when I find the time) and collecting old iron weights and dumbbells (YORK, JACKSON, ETC).

My goal is to be independant and wealthy. Flipping is something that I am fascinated with. I just posted a question in the rehabbing forum about it, so any input would be great!

Thanks again!

Butch

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Hello All,

Is now a good time to flip a house?

I am located in Central, NJ.

I have one experience in flipping and all worked out well. That was a little over a year ago. It was a situation where I was forced to flip. It was a house that I inherited. It needed a liitle cosmetic work (carpet, paint, appliances, fixtures, repairs, etc.). I put about $8K into it and it sold the same week it was listed for top dollar! I could have sold as is when I got it, but In honor of my father I wanted to get it back in the same shape as the day he bought it. It's a good thing I did because the Realtor told me if I hadn't I probably would have never received an offer.

It took about 2 1/2 mos to get all the work done. I hired a contractor / handy man. The house was about 150 miles away. Even though I didn't do any of the work, it was sure hard due to the distance and going there on weekends.

Hard work, but exhilerating! It was a great feeling being captain of the ship and my destiny. I enjoyed calling contractors, attorneys, going to town hall, Realtors, etc. Orchestrating everything and having a plan all come together was the coolest thing.

I understand that now is a totally different market and all and I would hate to get burned.

Any input would greatly be appreciated. :D

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Hello All,

I have been lurking about for a few days and decided to jump in the pool!

My name is Butch and I plan to also jump in this real estate thing and accumilate some wealth.

It's good to be here!

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All Forum Posts by: N/A N/A

N/A N/A has started 2 posts and replied 4 times.

Post: Flipping... is now a good time?

Post: Hello from New Jersey!!

Post: Flipping... is now a good time?

Post: Hello from New Jersey!!