House Flipping Makes a Comeback (WSJ article)

House Flipping Makes a Comeback (WSJ article)

Interesting article I came across...thought I'd share:



Nice Story

My wife was just in phoenix a couple of weeks ago visiting family, and she was amazed at the number of foreclosures. Because of the info on Deans preforeclosure system I found a ton of potential short sale situations that could make tons. My brother in law is CPA in AZ and I am trying to work with him, actually teach him, how to work these potentials.
I am in Austin,TX, 27yrs, and am looking for investors in Phoenix "the valley",Austin,TX, N.W. Arkansas, Cedar Rapids,Iowa(and surrounding area) if interested let me know.

Re: Nice Story

Sduss, thanks for the local in-sight. It definitely helps to learn what's really going on via real experiences.

I'm still very much hanging out in a 'learning-phase' - just taking in everything I came across from this site + book(s) and others. Definitely looking to get something started after the holidays/new year - thinking maybe with a Lease-Option method.


Lease option

If you do a lease option, be sure you allow yourself the right to also lease option on the other side.
In other words the "Double Lease Option" of course this allows you to lease the property for more per month, and let them opt. a couple of months before you.

Re: Lease Option

Yes, definitely. I want the ability to "sublet w/ option" as you described as well as the ability to sell at anytime to any other available buyer. I fig once I start and find a property, I'll find a local lawyer to help read over/create any necessary documentation to that effect.


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