Flipping Process
Hi all, I would like to know the exact process of flipping properties. I am interested in buying pre-construction condos and upon completion sell them. I had an opportunity to book a condo, 2 months later the developer increased the prices over 75k of the remaining condos that were lesser attractive.
Why or how could he raise the price over 75k in just 1-2months? Now these condos are sold.b
Coming from a background as a developer your pre sales will have a lower price but will be the most attractive units available.As more units are sold the price rises.But you are speculating not flipping,which can be very dangerous!!!
Well to help you with the process, you can read my "Anatomy of a Wholesale Flip" article on the site. It will help you with the basics, but not with your exact situation. You will probably be able to figure it out.
I agree with the other poster. You are speculating. Can the builder do it? If the demand is there, sure they can. I wanted to buy a condo villa near me recently, and the builder raised the price and there were people camping outside to get them. It was ridiculous. They were paying crazy money for them.
If the market stays like that, it can be done.