11-07-2006, 05:29 PM
Evan Wrote:There is also absolutely no chance you could sell a house after 3 months and not loose any money. #1 reason is the declining market. I have read reports of the market loosing 12% over the next year. #2 is closing costs. You dont get that $10k+ back. And if you roll it into your mortgage you are even more fucked, because now you owe interest on it.
Well, I guess somebody better call up all those people that make their LIVING off buying/selling real estate and inform them their business model is faulty. I know several people who do it as a side job where they flip 2-3 houses a year and are making MORE at that then their daily job with little to NO improvements done to the property.