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Dr. Housing Bubble 08//02/14
So you think you can flip? Proliferation of house flipping and rehab shows highlight a resurgence for big bucks in real estate and a general amnesia of recent financial history.It is amazing to see the resurgence of housing flipping and rehab centered shows on cable TV. The shows glamorize the lifestyle of flipping forgetting how many people got burned in the previous downturn. Of course, many of the juicy flips already went to other investors and now many in the public are itching to get back into the game. Flipping works on a larger scale when the market is appreciating quickly. Why else would you assume the risk? In slow to declining markets, flippers are relegated to finding beaten down places and having to control costs carefully. You need a team and multiple flips per year to make it lucrative. From watching these shows, costs get out of control very fast and many seem to have a poor grasp of short-term gains and the bite taxes will have on their profits. There also seems to be a “mom flipping” trend. God bless cable television and the creative ways to promote real estate!
House flipping moms
http://www.doctorhousingbubble.com/so-you-think-you-can-flip-house-flipping-moms-mother-flippers/
