Extensive Guide to Meditation
November 6, 2010Dominate the Web 2.0 Market
November 7, 2010Website Flipping for Cash
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Like most people, you've heard of flipping houses. The idea behind it is straightforward.
You start by locating a promising fixer-upper property. Next, you purchase the property and put some work into it. Finally, after renovating, you put it up for sale, aggressively seek buyers, close the deal, and hope to make a profit.
If you've ever watched one of the TV shows on flipping, it probably seemed quite attractive. In most cases, they do the renovation in a short period of time; and then close the sale in a matter of weeks. In no time, it appears that they have turned a profit while taking on no risk whatsoever.
In reality, however, you know that flipping houses is not always a profitable business. If you aren't a skilled renovator or if you don't time the market correctly, you could easily end up selling at a loss or getting stuck with a property that won't sell. To see that this happens, you needn't look any further than the most recent recession in the U.S., where real estate speculators and flippers were left with massive amounts of debt and houses that were rapidly depreciating in value.
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