I've always thought about it.
I have flipped plenty of real estate through the years. Not just houses.
I was there before all the shows on TV showing everyone how "easy" it is. Articles like this and those shows create a false reality where everyone thinks it is easy and "they can do it too"
It's not nearly as cut and dry. People in this article and people on those shows have spent years building up market knowledge and the proper contacts to locate the best deals. They also built relationships with contractors and suppliers that service them first and give them the best deals for ongoing business. They buy the property cheaper and get it remodeled lower than you could do it. It's not as simple as buying a foreclosed property, slapping some paint and floors in it then reselling it.
I saw so many horror stories of people losing their life savings trying to emulate what they saw on TV with zero market experience or construction knowledge.
I started as a Real Estate agent 13 years ago in 2000. Bought my first flip in 2001 and got my contractor license and built my first spec house in 2002. I was there pre sub prime bubble and rode it before it popped so I have seen it all.
This post was edited on 7/23 at 6:54 am