Quote:
Originally Posted by Z-man
Dirt. As in real estate. Right now, the RE market is very soft - inventory levels are low, at least here in North New Jersey. Most people are not buying right now. So this gives you time to find a fixer-upper and prep it for the spring when the market gains more traction.
You already have a talet at fixing this up -- but with filipping cars. Flipping houses require some of the same skills, a little more equity up front, a longer time to 'repair,' but a whole lot greater return on the other side.
Do some research, find a desireable location, then find a house in that area that requires a little attention, and have at it. Pay attention to details when fixing the home, don't cut corners, find what is popular now in homes (granite? open floor plan? master suite on first floor?) and work those into your repairs.
My $0.42,
-Z
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BTW, I agree with RL, but the investment is much higher then buying a 50-60k car so the risk is greater.
How's are homes moving up in your neck of the woods? In socal (certain parts, but LA is still on fire), the market has not slow up much. This time of the year is typically a bit soft for a couple of months but buyers are still buying.