By Kevin S OBrien I know! Lots of people are having trouble right now and who in their right mind would want to start a business flipping houses? I don't know if you are aware of the terms buyer and seller markets? Its a buyers market right now. That means there are a ton of houses for sale out there and you have your pick. So whats that mean for you? Well for one it means better opportunity to get the price you want to pay. You can pick the best one in your price range. And if this means you are going to resell it then that equates to money in your pocket. That is if you can resell it. So here's some options for you. First , rent it out. Even if your desire isn't to be a landlord, this can free up some cashflow and also your credit. Since you can show to the bank or mortgage company that you have that payment covered you may be able to get another loan to buy more property. So you buy up as many houses as you are comfortable with while the prices are low. Then when the market turns around, and it will, you have all these houses to sell as they become vacant. The beauty of all this is when you first buy you have the cream of the crop. At least the best ones you can find in your range. Most will not need a lot of work. And you can also let the rentors paint for deposit. Then you keep your work load down to a minimum. And since you bought low, your payments are low. You might even be able to make a monthly profit! Second, wholesale the house. This amounts to simply cleaning the place up. Mow the lawn , take out all the trash, and put a clean smell in there. Then advertise it to investors. Run an ad in the newspaper simply saying you have a house that needs work. You might say motivated seller, or investor special. Your target here are those small to midrange investors. Others that want to put the time and money into a place. Keep in mind that you don't want to make a killing here. Your mark up should be low to move the place fast. After costs, think about only making on-two thousand. What with how little work you do to the houses, you can move several a month this way and make a good part time income. After a while you may even have a short list of investors to call when you find a deal. And lastly its the long way. Buy low, fix up and hold. Be ready to make payments and count that as redo costs. Fix it up the best that you can. Carpet, paint, kitchen. And any mechanicals that need it. Give people a good value for their dollar. Make sure that your house is the best one in that price range in that neighborhood. And since you bought low you can keep your resale price competitive. The market is slow, not stopped. People Still need to buy homes and there are new people entering the market everyday. Those people are looking for deals. Keep that in mind during your redo. Hope this gives you some ideas ! I have been in real estate for over 22 years. I have built houses , been a realtor, and worked for banks on their REO's . For the most part I have been on my own flipping houses a number of ways. I have worked foreclosures and even moved houses. I have short ebook for beginners to help you get to know the industry and find Cheap ways to get out there and Flip Houses ! Tresninas.com Thanks ! Article Source: http://EzineArticles.com/?expert=Kevin_S_OBrien