For those inspired by television shows like Flip That House and Property Ladder, where regular people like you and I by a house to make a profit, there are warning signs. Not so much with the Property Ladder show, but more so with the others, please be aware that those people have investors looking for fast returns on a short term investment. Property ladder seems to focus on individuals with a budget, although they may have money or a construction loan.
You must time the market correctly. Unless you buy a home with plenty of potential equity you cannot accomplish your goals in a buyers market. Renters won’t help you at all. And if the house stays on the market and sits empty you still have debts. The process is not as easy as it looks. Even in California, house flipping met with slowdowns and few qualified buyers.
Hi, I'm Jen and I'm here to help. Submit your complaint here or get help here
This article, Flip That House, Property Ladder Not The Norm, is just one of our articles from our Mortgage Crisis Daily
The Subprime Mortgage Crisis Before, During, and After
Mortgage Crisis Daily monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
