What Happens When You Flip A House?

Today, I’ve decided to document one of our real estate journeys. We came to a decision to flip a house here in San Antonio. I've been selling real estate houses for 22 years and I’ve helped many families in and out of San Antonio to buy and sell real estate.

And now, we’re going to flip a house.

WHAT IS A FLIP?

A ‘FLIP’ or ‘HOUSE FLIP’ is a real estate term used when you buy a house or a property that is in a bad state or situation. You’ll buy it, fix it, and then resell it for a higher price so you make a profit.

A property is considered a flip when the home was purchased and sold within 12 months.

I’ve got to tell you, flipping houses is more popular than ever.

However, I have some baggage from a few years back when we decided to try this because as mentioned, everybody was doing it.

Unfortunately, we lost our shirts. How?

At that time, we are paying interest on different loans that we got to buy the property, plus all the renovation expenses among many others.

And we ended up having to put a lot of money into that property and it was pretty painful.

However, the real estate market has changed and I think I've gained a lot of experience ever since we did that flip.

THE TRUTH ABOUT HOUSE FLIPPING

In my real estate journey, I’ve witnessed a lot of people who make incredible amounts of money by just flipping a house.

BUT, I also witnessed a lot of people gradually losing their money and savings by doing house flips.

That's the reason why I've always been kind of scared to try this. 

However, THE MARKET IS COMPLETELY DIFFERENT RIGHT NOW THAN IT WAS BEFORE.

I have videos on my YouTube Channel showing some of the house flips I did these past few months.

I documented my journey because this might help someone out there who is thinking of starting to flip a house.

If you have any questions about house flipping or other real estate inquiries, contact me using the details below or leave some comments below.