I got a coworker who started flipping houses. Went all in and just finished posting her third house for sale. They got a second(third?) job to can pay the mortgages/loans until they sell. It’s been 4 months and they’ve dropped the price to be competitive. I think they’re gonna lose money after all this is said and done. Which couldn’t happen to a more deserving person. They’re the reason bosses are cracking down on us for every single thing. They aren’t sleeping and keep fucking up. Fuck these leaches
Yeah if you’re going to flip houses you shouldn’t be buying liveable units to upscale, you should be buying nearly derelict buildings nobody would want and fixing them up to be comfortably inhabitable. Your highest cost shouldn’t be the mortgage
Quite frankly, you shouldn’t be doing that either.
If someone wants a building a certain way, they can pay to make it that way. If you pay to make it that way and then sell it to them at a profit, you are not really providing them with anything, you’re just taking a profit and giving them a not-quite-right renovation they now have to deal with.
In the grand scheme of the system, it would be far better if your profit ended up going to other people who could instead use it to pay for a better renovation that they actually want.
Not true at all.
You’re providing the service of doing all that installation and restoration. You should be compensated for your efforts. You can do that work a lot more efficiently when you’re not beholden to a specific client’s needs or wants, you just want to get another affordable home onto the market.
We have a severe lack of homes that are affordable for people who work most of the time and don’t have the time or the savings to restore a home themselves, but might have the savings to make a down payment on a completed restored home. Not everyone has the same means, and we should be using our side hustle to help the world we live in, not hurt it.
