One Texas-based expert on flipping houses has a warning: -- it's not as easy to do as it looks on HGTV. JP Piccinini says the so-called “after repair value” has to justify the time and money you put in.
You need a team, starting with a good, dependable contractor.
“(Your success depends on) Their ability to be able to stay on task and complete the job when they say they're going to complete it,” Piccinini says, “and stay within budget.”
He says the market is getting stronger and he's not warning you away from flipping real estate.
“If you could do it right, if you can manage to have a great team and a great realtor to back up,” he says, “you can make great income and have a fun project.”
He says you're creating inventory for the real estate market -- and the market needs those homes right now.
There is one thing to remember:
“If it doesn't make dollars, it doesn't make sense/cents.”