I get a lot of phone calls from people looking at getting into flipping houses. I know I get these phone calls because of the mindset that we are in a recession. I’m not sure what clearly defines recession, however I don’t think this is it:
The Greater Montreal Real Estate Board sent out their monthly report and the headlines read: “Sales in Montréal Area Surpass Record-Breaking 2007 Levels. It read on saying that Sales in the Montréal Metropolitan Area increased by 51 per cent in November 2009 compared to November 2008. The 3,411 transactions were enough to surpass, by 4 per cent, the record-breaking sales levels of November 2007.”
One of my clients/friends is a professional house flipper. He’s been working at this for over a year now. He’s flipped one house; not because he doesn’t work hard, but because that’s all he’s found. He works at it everyday which includes many phone calls, analyzing, charts, research, meetings, did I mention analyzing
? After one year doing it full time, he’s starting to shy away from full time flipping and is getting into part time flipping and full time buy & hold.
