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Flip Your House Without Losing Your Shirt

Haunted House.   Photo by Todd Klassy.

Bankrate.com:

Bolstered by the many home renovation shows that dot the TV landscape, the recent housing boom has spawned a lot of interest in making money, by renovating a fixer-upper and selling it at a higher price.

It seems like a no-brainer, but is flipping a house a sure-fire path to riches? “It’s not that easy to do,” says Joe Devison, a mortgage expert with Centum Mortgage House Ltd. in Halifax.

“You have to be careful,” he says, noting that trading in real estate is not for everyone. Flipping a house requires a lot of leg work and a lot of capital. Read on to see if it’s the right path for you.

Read more.

Photo by Todd Klassy.

   

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