Buying houses cheaply to sell at a profit is becoming a popular way to make a living
Not everyone who buys a home plans to live in it or hold on to it as a long-term investment.
Investors purchased between 2% – 5% of the 6.1 million existing single-family homes that were sold in the US in 2003, according to the National Association of Realtors. Some are investors trying to hedge against the vagaries of the stock market and others buy and sell houses as commercial ventures.
Investors watch for home foreclosures, or pursue properties listed as for sale by owner. Or they put up a billboard advertising their willingness to buy properties, like the one announcing “We Buy Ugly Houses” used by a Dallas-based franchise company HomeVestors of America Inc., whose network includes real estate investors across the nation.
Flipping proves lucrative for some [Dallas Business Journal]
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