Is Property Flipping In Florida A Good Sign?
I think no matter what it is risky business but you can make money doing it. Then again with any risk you take there is an upside and a downside. I also know a few people in the Fort Lauderdale and South Florida area that are having success doing it. They also know what they are doing and aren’t trying a “get rich quick” tactic.
The article below talks about how they are back and it makes some interesting points about how it’s different this time around. I don’t agree 100% with what they are saying because unfortunately we have seen how a few bad apples can ruin the bunch. We have also seen greed get in the way along with many people coming in too late after seeing the huge success others have had. It goes back to what Warren Buffet said, “when people are fearful be greedy and when people are greedy be fearful.”
“Real estate analysts say not to panic — yet. This new cohort of investors is kinder, smarter, less predatory. It might even mark the era of what experts are calling “the good flipper.” “The first group blew it — they don’t have any money left,” says Bradley Hunter, who heads the South Florida office of Metro Study, a housing-consulting firm. “The current group of investors is made of [genuine]investors and not momentum flippers.