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February 25, 2007

Comments

Cara Fletcher

I am not sure if house flipping is a get-rich-quick scheme.But it may help you to earn some extra money.You should know how to preppare yourself for the whole process and if you do it right then you're going to be sucessful.

Dave Iverson

Cara,

Some people have been highly sucessful at house flipping, but it takes more than skill in working the transformation. It also takes skill in market timing. My sister is good at the former, but arguably not at the latter. And it has cost her a bunch. There are many others in the same boat.

Nassim Nicholas Taleb (author of The Black Swan) argues that much of what is touted as "successful entrepreneual skill" in many popular books and journal articles is simply blind luck. I tend to agree with him on this and much more. It's a good read.

If one buys a house to 'flip' at the top of a local or regional (or international) bubble, they will be hard pressed to "be successful."

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  • Chronicles of international finance and geopolitics, with hints from thither and yon to help us find a way from "growth and development" to "sustainability."

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