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By Alan Brymer
There has been a lot of controversy about “flipping” houses in recent years. Is it legal? Is it perfectly fine? Well, it depends on who you ask, and more importantly, what their definition of house flipping is.
Here’s the common definition of house flipping: Buying a property, doing repairs if needed to put it in great shape again, and selling it right away for a profit.
Now how could there be anything wrong with that?
There isn’t. I have done it dozens and dozens of times, and it’s my preferred method of investing. There are always houses you can buy from motivated sellers under market value, whether the market is hot or cold. People always have financial problems and may want to get rid of a house for a lot less, for any number of reasons.
Sometimes the houses don’t need any work at all! I have literally bought some houses one morning, and listed them for sale the same afternoon! So keep in mind that not every house you are flipping has to be a big fixer-upper.
The problems with flipping houses come when there is dishonesty involved, such as lying to the seller, lying to your lender, lying to the buyer, and so on. So yes, there’s an illegal and a legal way to flip houses, just like anything else.
So many shady investors have “flipped” houses when there was fraud involved that a lot of people associate all flipping with being dishonest. This is unfortunate, but is really just a matter of semanticsso don’t let it get to you.
Call it what you want and let people have whatever attitude about it that they will, but don’t let other people’s crimes keep YOU from flipping houses yourself. So, I’ll say it one more time. It’s not only totally legal to buy a house and sell it again immediatelyit’s a really, really good way to get a big paycheck within a couple of months.
Click Here:StinkyMarketReport.net In this FREE digital book, learn the secrets that a $100,000,000 real estate investor has discovered about making money in a slow market, by understanding how market cycles REALLY work. Or, for info on Alan Brymer, go to www.AlanBrymer.com
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By Pat Patty
If you are in the market to purchase a home in the Lake of the Ozarks, Missouri area, seek the help of McNally Properties. Whether you are an investor looking for commercial highway frontage, a second-home buyer seeking to own the magic of Lake of the Ozarks, or perhaps a first-time home buyer looking to capitalize on tax incentives, McNally Properties will tailor its professional service to match your needs, and they’ve got the experience to prove it.
Pat and Patty McNally have a combined four decades of Lake of the Ozarks-specific professional real estate transaction experience. The McNallys have experienced the exponential growth of Lake of the Ozarks first-hand since moving to the area in 1975. Since then, they have used their knowledge and expertise of the region, its businesses, features, geography, recreation and potential to grow an award-winning local real estate business.
McNally Properties offers a comprehensive list of properties on their website for sale and lease. This has enabled buyers to approach the real estate agents with a definite idea in their mind about what kind of property they are interested and looking out for. Also, they are clear as to which property they find appropriate in the terms of investment. The information displayed on their site about different properties available in different locations enables the buyers to put forth their budgetary proposal forward and negotiate with the brokers or the seller of the property.
Among the more notable of McNally Commercial Properties recent real estate transactions was negotiating the sale of property that will be the future home of Chateau Lake of the Ozarks, a world-class John Q. Hammons Resorts hotel, spa and convention center. McNally was also instrumental in guiding the Hammons organization through planning and zoning of the real estate and other municipal matters related to the project.
The agents of McNally Properties are experts in the entire region including but not limited to Osage Beach, Four Seasons, Horseshoe Bend, Lake Ozark, Linn Creek, Camdenton, Sunrise Beach, Shawnee Bend, Porto Cima, The Villages at Shawnee Bend, Bagnell and Eldon. In addition to geographical expertise McNally Properties agents are all Realtors and hold accreditation of the highest standard including RSPS (Resort and Second Home Property Specialist), CRS (Certified Residential Specialist), CLHMS (Certified Luxury Home Marketing Specialist) and ABR (Accredited Buyer Representative). Mac McNally, Pat and Patty’s son, also holds the unique and prestigious title of CCIM (Certified Commercial Investment Member).
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Patty is author of this article on Commercial Residential Properties.
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